Planet Resource Recovery, Inc. Engages Auditors to Audit Financials for Filing of Form 10-SB
19 December 2007 - 12:30AM
Business Wire
Planet Resource Recovery, Inc. (Pink Sheets:PRRY), developer,
manufacturer and marketer of the PetroLuxus� family of products,
announced today that the company has engaged PS Stephenson &
Co., P.C. as the company�s financial auditors. PS Stephenson &
Co., P.C. will conduct and complete the audit to be filed with the
Securities and Exchange Commission as part of the company�s Form
10-SB filing. Upon the effectiveness of the Form 10-SB filed with
the SEC, Planet Resource Recovery, Inc. will be eligible to elevate
its stock trading status form the Pink Sheets to a larger, more
broadly accepted stock trading exchange. PS Stephenson & Co.,
P.C. will audit the consolidated balance sheets of Planet Resource
Recovery, Inc. and subsidiaries as of October 31, 2007 and related
statements of operations, stockholders� equity and cash flows for
the year then ended. The audit is anticipated to be completed
during the first portion of calendar 1Q 2008. The engagement of PS
Stephenson & Co., P.C. as auditors, coupled with retaining
Axelrod, Smith & Kirshbaum as SEC counsel, completes all
parties required to file Planet Resource Recovery, Inc.�s Form
10-SB with the Securities and Exchange Commission. 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, 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:
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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