Unassociated Document
EXHIBIT
99.1
FOR
IMMEDIATE RELEASE
CONTACT: |
J
John Combs III, President |
|
Strategic
Environmental & Energy Resources, Inc. |
|
7801
Brighton Road |
|
Commerce
City, CO 80022 |
|
303-295-6297 |
|
email:
john@regs-llc.com |
Strategic
Environmental & Energy Resources, Inc. closes acquisition of REGS and
Tactical Cleaning Company
New
York, NY, January 22, 2008 –Strategic Environmental & Energy
Resources, Inc. (“Strategic”) (SENR: Pink Sheets), formerly Satellite Organizing
Solutions, Inc., a Nevada corporation and portfolio company of Infinity Capital
Group, Inc., announced today that it closed the acquisition of all the issued
and outstanding interest of REGS, LLC (“REGS”), a leading provider of
technology-based industrial services, and Tactical Cleaning Company, LLC
(“Tactical”), a dedicated fixed and mobile railcar and tanker truck cleaning
company, both Colorado limited liability companies.
Pursuant
to the acquisition, the interest holders of REGS and Tactical allowed their
interests to be acquired for 18,282,630 restricted shares of Strategic common
stock (“Acquisition Shares”). The acquisition will be accounted for under the
reverse acquisition accounting rules. As part of the acquisition, the management
team of REGS became the directors and officers of Strategic, and Greg Laborde,
former president and sole director, resigned.
Prior
to
the completion of the transaction, a reverse stock split of Strategic common
stock was consummated on a one-for-four basis whereby each four (4) outstanding
shares of Strategic common stock was converted into one (1) share. There are
currently a total of 19,159,443 common shares issued and outstanding, including
876,813 shares held by existing shareholders of Strategic prior to the
closing.
J
John
Combs III, the newly elected president of Strategic, said, "We are very pleased
to conclude our going-public transaction and turned away many suitors before
we
found Infinity Capital. The Company is now in a position to
aggressively move forward with its business plan of revenue growth, expansion,
and vertical integration through acquisitions in a market that is experiencing
unprecedented revenue and earnings.”
Focusing
solely on its Rocky Mountain regional operations, REGS has nearly tripled
its personnel base and revenue over the last four years. “REGS has
achieved its recent growth using internally generated cash without the benefit
of any significant growth capital,” stated Mike Cardillo, REGS’ founder and
president. “As a result, we’ve been forced to pass up many large and potentially
lucrative projects. Our transition to being owned by a public
company, coupled with a stronger balance sheet, gives us the ability to operate
more efficiently and pursue many
available
opportunities to accelerate our growth and improve profitability. We
intend to move forward aggressively in opening additional industrial service
offices in markets many times the size of our current, more regional
markets.”
Tactical’s
rail opportunities are equally exciting in a market space that is also realizing
remarkable revenues and profits in recent years. The rail company has
completed two new offices from the ground up in the last three years with
two
additional scheduled for completion in the next several months. Combs
explained, “Tactical’s newly formed partnerships will enable the rail operation
to complete these cleaning facilities ahead of schedule and open new, additional
full-service facilities in strategic locations across the United
States. We have worked diligently for two years; securing short line
rail leases in high-traffic regions, contracting with large and small rail
partners, and employing experienced management to be prepared for this
closing.” Tactical should have at least four facilities opened by
year-end, each exceeding $1.0 million of high-margin revenue on an annualized
basis.
Combs
said Strategic and its subsidiaries expect to develop several significant,
complementary business partnerships, both domestic and international, in
the
2008-2009 time frame, but did not provide specific information about M&A
activity currently in progress.
About
Strategic Environmental & Energy Resources, Inc.
The
Company is a newly structured public holding company with two operating
subsidiaries: REGS, LLC and Tactical Cleaning Company, LLC. The
mission of the Company is to assemble a synergistic conglomerate of the most
innovative and profitable entities and technologies in the fast growing
environmental and energy arenas. The proven operating histories,
proprietary technologies, and experienced management of its subsidiaries will
enable Strategic to execute this plan, create a more complete and vertically
integrated industrial service offering, and thereby capture new and lucrative
market share.
For
more
information or to receive future press releases, go to the Company’s web site at
http://www.seer-corp.com
About
REGS and Tactical Cleaning Company
Formed
in
1994, REGS, LLC (d/b/a Resource Environmental Group Services)
is a leading provider of technology-based industrial services throughout the
country with its headquarters in Commerce City, Colorado. For nearly
fifteen years, REGS has serviced all levels of both the government and private
sectors. In addition to servicing many small and mid-sized customers
throughout the country, REGS has a well established network of large refinery
customers throughout the West and Midwest. Formed in 2004, its sister
company, Tactical Cleaning Company, LLC,
is a dedicated fixed and mobile railcar and
tanker truck cleaning company with current operations in Colorado, Nebraska,
Pennsylvania, and Oklahoma. Together, REGS and Tactical currently
provide industrial and tank cleaning services, environmental construction
services, transportation of recovered industrial wastes, railcar and tanker
truck cleaning, sludge dewatering services, and general environmental and waste
management services.
About
Infinity Capital Group, Inc.
Infinity
Capital Group, Inc., is a closed-end investment company that has elected to
be
regulated as a business development company under the Investment Company Act
of
1940. The business of Infinity is to seek out special situation
opportunities in emerging growth companies that are in need of initial or
expansion financing. Infinity provides managerial assistance and
invests in publicly traded vehicles and companies desiring to become publicly
traded through either a public offering, or a reverse merger with an existing
publicly traded entity. In addition, Infinity intends to invest in
micro cap public-traded companies seeking PIPEs (Private Investment in Public
Entities). Infinity believes that it will have a greater
ability to raise additional capital for “follow on” rounds for portfolio
companies than a traditional private venture capital fund.
For
more
information or to receive future press releases, go to Infinity’s web site
through the following link:
http://www.infinitybdc.com/contact.php
This
press release contains "forward-looking statements" within the meaning of
various provisions of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, commonly identified by such terms as "believes",
"looking ahead", "anticipates", "estimates" and other terms with similar
meaning. Specifically, statements about the Company’s plans for
accelerated growth, improved profitability, future business partners, M&A
activity, new service offerings and pursuit of new markets are forward looking
statements. Although the company believes that the assumptions upon
which its forward-looking statements are based are reasonable, it can give
no
assurance that these assumptions will prove to be correct. Such forward-looking
statements should not be construed as fact. The information contained in such
statements is beyond the ability of the Company to control, and in many cases
the Company cannot predict what factors would cause results to differ materially
from those indicated in such statements. All forward-looking statements in
the
press release are expressly qualified by these cautionary statements and by
reference to the underlying assumptions.