MDEChem, Inc. Completes Unaudited Balance Sheet for Year Ending 2006/All Debt Forgiven by EnviroFuels, LLC
12 May 2006 - 12:15AM
Business Wire
MDEChem, Inc., (the Company) (PINK SHEETS:MDKM) is pleased to
present to its shareholders and all interested parties an update in
it's May 10, 2006 Balance Sheet and its relationship with
EnviroFuels LLC of Houston. For the period ending 5/10/2006,
MDEChem Inc. released details of its unaudited Balance Sheet
showing very positive developments in its association with
EnviroFuels LLC. The Balance Sheet showed forgiveness of the note
due including interest owed. In addition EnviroFuels, LLC is
permitting MDEChem to convert the Company's common units for Class
A units. These Class A units are like preferred stock with a higher
value than the common units and emphasize greater shareholder
rights. The Balance Sheet (unaudited) may be viewed at
http://www.investments101.com/MDEChem_BalSheet.html. It is expected
that an audited Balance Sheet will become available when the K-1
for 2005 that is referenced on the Balance Sheet is received from
EnviroFuels. It can be assumed however that the conversion will be
positive to the Balance Sheet. "The forgiveness of our Note and
accrued interest plus the conversion of the EnviroFuel units is a
very positive development for MDEChem and its shareholders. These
actions are allowing us to proceed with our plans to manufacture
and market MaxHeal products in the United States this year." stated
MDEChem, Inc. President Paul Sack. Safe Harbor Notice This document
contains "forward-looking statements" as provided in the Securities
Act of 1933 and the Securities Exchange Act of 1934. MDEChem, Inc.
believes that the expectations reflected in the above statements
are reasonable, but no assurances can be given that they will prove
correct. Statements made herein are not a guarantee of future
corporate or stock performance. This information should not be
construed as investment advice. All information is believed to be
reliable, but cannot be guaranteed. The above information is not a
solicitation to buy or sell securities. Always consult with a
registered investment professional prior to investing.
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