PASADENA, Calif.–(HISPANIC PR WIRE – BUSINESS WIRE)–May 21, 2003–American Soil Technologies (OTCBB: SOYL) announced today that its revenues for the first three months of 2003 were $258,454, compared to $17,797 for the first three months of 2002.
Carl Ranno, the president and CEO, stated, “The company is very pleased to announce that the substantial increase in revenue is a result of the company’s efforts to increase its distributor base, product line and sales force.” Ranno went on to state, “The revenues have resulted in a decrease in our loss from 10 cents per share at March 31, 2002, to 2 cents per share as of March 31, 2003.”
About American Soil Technologies Inc.
American Soil Technologies develops, manufactures and markets cutting-edge technology that decreases the need for water in agriculture and other plant-growing environments while increasing crop yield and reducing the environmental damage caused by common farming practices. The company also holds exclusive rights to a soil-washing technology that removes hydrocarbon contaminants from soil and three new patent applications on a revolutionary machine designed to install the company’s product Nutrimoist L(TM) into mature turf. More product information can be found on the corporate Web site, located at http://www.americansoiltech.com.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
American Soil Technologies Inc., Pasadena
Carl Ranno, 626/793-2435