Partner in Accounting Firm Departs to Join Planet Resource Recovery, Inc. as Chief Financial Officer
14 August 2007 - 10:30PM
Business Wire
Planet Resource Recovery, Inc. (PINK�SHEETS: PRRY), developer,
manufacturer and marketer of the PetroLuxus� family of products, is
pleased to announce that Patrick Richard has joined Planet Resource
Recovery, Inc. as Chief Financial Officer. Mr. Richard, a former
partner at Turlington, Reeves, and Richard, PLLC, supervised and
managed Planet Resource Recovery, Inc.�s accounting while at the
firm. He relinquished his partner status in the firm to join Planet
Resource Recovery, Inc. as its Chief Financial Officer. Mr. Richard
will immediately commence consolidating all accounting of Planet
Resource Recovery, Inc. and its subsidiaries including RADA
Technologies, Oil Recovery Ventures, LLC and Raptor Ventures, LLC.
Planet Resource Recovery, Inc. has commenced audit preparations
with an SEC-approved auditor to prepare the company�s financials
prior to engaging legal counsel to file a FORM 10 to apply for
trading status on the OTCBB. Mr. Richard joined Turlington &
Foster, PLLC, in January of 2002. He became a partner of the firm
in March 2004 whereas the firm was renamed Turlington, Reeves and
Richard, PLLC in January 2005. Mr. Richard served many clients in
various specialized industries including consulting, oil and gas
and manufacturing. From June 1996 through January 2002, he was the
tax manager and assistant controller for megastore retailer Garden
Ridge Corporation. He was responsible for all tax compliance and
planning for the mass retailer as well as inventory control. While
he was with the company, Garden Ridge had over $400 million in
sales with 45 stores in 15 states. Prior to joining Garden Ridge,
he was with Andersen, LLP from 1993 until May 1996. Mr. Richard
graduated from Baylor University with a Bachelor of Business
Administration with majors in accounting and finance. He is a
Certified Public Accountant licensed by the State of Texas and is a
member of the American Institute of Certified Public Accountants
and the Texas State Society of CPA�s. He lives in Houston, Texas,
with his wife and two children. About Planet Resource Recovery,
Inc. Planet Resource Recovery, Inc. is a holding company
spearheaded by its Petrochemical manufacturing unit that has
developed PetroLuxus�, a proprietary environmentally-friendly
chemical compound that dislodges oil in practically all natural and
man-made environments. The PetroLuxus� family of products is an
effective and efficient solution for the remediation and recovery
of petroleum-based products. PetroLuxus� applications include
Enhanced Oil Recovery, Oil Sands, oil spills, oil tank farm
cleaning, marine ship cleaning, remediation of oil sludge pits,
treatment of raw fuel feedstocks, waste oil segregation and
biodiesel, to name a few. Through the acquisition and formation of
wholly-owned subsidiaries, Planet Resource Recovery, Inc. deploys
the PetroLuxus products. RADA Technologies, Inc. engineers new
mechanical processing equipment proprietary to PetroLuxus products
while simultaneously providing fuel inventory management services
reducing loss to increase gain for its customers. Oil Recovery
Ventures, Inc. deploys PetroLuxus� through joint ventures in the
Enhanced Oil Recovery market. For an audio/visual demonstration of
PetroLuxus�, click on the link below.
http://www.planetresource.net/test76u31b.htm For more information
please visit www.planetresource.net or http://www.petroluxus.com
"Safe Harbor" Statement: Certain statements in this release are
"forward-looking" statements as defined in the Private Securities
Litigation Reform Act of 1995. Such statements are subject to
numerous risks and uncertainties. Actual results may vary
significantly from the results expressed or implied in such
statements. Factors that could cause actual results to materially
differ from forward-looking statements include, but are not limited
to, the Company's ability to meet the terms and conditions required
to obtain its project financing, risks and delays associated with
product development, risk of market acceptance of new products,
risk of technology or product obsolescence, competitive risks,
reliance on development partners and the need for additional
capital.
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