Substantial Revenue Growth for Adama Technologies Corporation
Potential Merger Suspended as Corporate Forecast Shows Imminent Signs of Growth
NEW YORK, November 18, 2010 /PRNewswire-FirstCall/ -- Adama Technologies Corporation (OTCBB: ADAC), a clean tech company, estimates that during the course of 2011 the company's overall projected revenue will be valued at US$ 8 million, with an estimated gross profit of 40%, equivalent to US$4 million, as well as a net income of approximately US$ 3 million, an amount with may substantially grow with the MBS certification to be granted by the IEPA.
The company is currently engaged in the final stages of the MBS certification to license its heavy metal remediation technology in Israel and with development underway in Romania and surrounding countries, the company's revenue forecast for 2011 and 2012 are expected to grow considerably, placing the organization and management team as a world-leading clean-tech company.
The market value for MBS in Israel alone is estimated at US$3 billion and the company intends to spearhead implementation of the clean-tech patent in additional countries in order to remediate contaminated soil.
"As a result of these new developments, we have taken the decision to suspend the pursuit of a merger possibility as previously announced since the potential revenue to be obtained was not worth the huge dilution effect to the company's current shareholders, an ongoing concern to the company at all times", explained Aviram Malik CEO of Adam Technologies Corporation. "Our expectations of high compound revenue and profit growth in the next three years strengthen the confidence in our abilities to generate profit to our shareholders while avoiding potential business distractions and unnecessary dilution".
About Adama Technologies Corporation
Adama is a Brownfield remediation company whose foundation lies in its licensed, patented technology. The technology successfully treats all metals within the Resource and Recovery Act (RCRA) and Universal Treatment Standards (UTS). The technology has successfully completed the U.S. (EPA) "SITE" program and is ready for commercial use. For further information, visit: http://www.adama-tech.com.
Safe Harbor Statement
This release includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements involve a number of known and unknown risks and uncertainties that may cause actual results or outcomes to be materially different from those anticipated or discussed herein.
Contact: Aviram Malik +972-544459292 [email protected]
SOURCE Adama Technologies Corporation
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article