Early this year, Scorpex, Inc. stated its goals for the remainder of 2011, as part of its move to becoming the leader in hazardous and toxic waste disposal for the Baja Mexico/California region, filling a major and growing need for the area. Principal among those goals were the following:
1) Add key officers and board members to enhance the management team
2) Obtain necessary operating permits for operations of the developing waste disposal facility
3) Engage a third party valuation company to begin audit preparations
4) Increase transparency and industry awareness for company shareholders
5) Continue to develop the necessary infrastructure on its 26-acre site near Ensenada, Mexico
6) Take the first steps toward the purchase of an advanced gasification/thermal oxidation system
7) Obtain the financing necessary to accomplish these and associated goals
In August, Scorpex made an announcement which, looking back on the above declared goals, strongly indicates that the company is progressing faster than was originally expected. Although the year is far from over, the announcement pointed to the following already completed accomplishments.
1) Appointed an interim CFO, and made two additions to the board
2) Received the critical Use of Soil Permit, opening the door to the issuance of state and local permits
3) Engaged an accounting group to prepare for formal auditing
4) Engaged the investor relations services of MissionIR to better communicate with investors
5) Finalized building of a storage facility, water reservoir and septic system, sprinkler, and fencing
6) Signed major contract with IET to install and license a waste gasification/thermal oxidation system
7) Secured financial commitments for up to $35 million of non-dilutive financing
Scorpex CEO, Joseph Caywood, commented on the rapid developments. “Our progress over the last ninety days has been nothing short of remarkable. Even though we are only in the third quarter, our company has accomplished nearly all business objectives that were set for completion this year. This is a testament not only to the competence of our team, but also the exhaustive groundwork that has been laid over the years.”
For additional information on Scorpex, visit the company’s website at www.Scorpex.com
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