BATH, NH -- (Marketwire) -- 05/16/11 -- MOP Environmental Solutions, Inc. (PINKSHEETS: MOPN) is pleased to announce it has secured funding for expansion of marketing, promotion, and manufacturing.
MOPN CEO Charles Diamond commented: 'We have secured adequate funding to achieve, our proposed near term objectives.'
Expansion of marketing and promotion:
Funding will provide for expansion of marketing and promotion with a budget of $200,000 allocated in a graduated increasing fashion for the balance of 2011.
Expansion of Manufacturing:
Funding will provide for expansion of manufacturing facilities with a budget of $800,000 allocated in a graduated increasing fashion for the balance of 2011.
The company's funding is being provided by a single source in accord with their steady monitoring and review of the use of funds with a graduated increasing monthly allocation.
CEO Diamond noted, 'This single source of funding is anticipated to satisfy the company's basic needs for moving to a stronger position of financial stability.'
Diamond further stated: 'Additional funding is also being sought for acquisition of a spill response company to allow for on-site spill response capability.'
ABOUT MOP ENVIRONMENTAL SOLUTIONS, INC. (www.mopenvironmental.com)
MOP Environmental Solutions, Inc. (MOPN.PK) is a publicly traded company. MOP Maximum Oil Pickup? is a 'cradle-to-cradle' green product that is arguably the most effective oil spill recovery system on the market.
Brief Description of the MOP Technology:
MOP Environmental Solutions, Inc. manufactures and distributes MOP®Maximum Oil Pickup. MOP picks up and recovers oil spilled on land and/or water. This revolutionary, 100% recyclable, absorbent material, picks up to 30 times its own weight in oil, without absorbing water, restores traction on slippery surfaces, yet is as safe to the environment as a leaf falling from a tree. MOP offers the fastest, safest, lowest cost way to restore a clean, natural environment from any oil spill, indoors, outdoors, on land or water in all weather conditions, and uniquely can pay for itself from the offsetting revenues of its oil recovery option.
MOP Environmental Solutions, Inc. addresses All Oil Spill Needs in Three Multi-Billion Dollar Markets.
- Direct to the Consumer - Ideal for leaks and spills from Auto, RV, Motor-Home Equipment and Used Cooking Oils.
- Commercial Industrial - Every company with machinery has a need for MOP.
- International Spill Response - MOP as the First Response is The Best Option for All Oil Spills on Land or Water.
MOP ENVIRONMENTAL SOLUTIONS, INC., participated in the cleanup effort of the BP Horizon Gulf Oil Spill.
Forward-looking statements in this news release are pursuant to safe harbor provisions of Section 21E of Securities Exchange Act of 1934. Investors are cautioned that statements in this release are not strictly historical statements, including without limitation, management's plans and objectives for future operations, assessment of market factors, statements regarding strategy, company plans and its strategic partners. These constitute forward-looking statements, are not guarantees of the company's future performance and are subject to risks and uncertainties, such as funding for machinery and materials, success in acquiring customers, maintaining needed government relationships, and successfully executing a business plan, which could cause the company's actual future results to differ materially from the forward-looking statements. For all such forward-looking statements, we claim the safe harbor for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. MOP Environmental Solutions, Inc. disclaims any obligation to update any forward-looking statement made herein.