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EAGLE ANNOUNCES NEW ACCOUNTING AND AUDITING FIRMS
SEPTEMBER 16, 2008
RENO, NEVADA, Eagle Environmental Technologies Ltd announced on September 16, 2008 that they have formally engaged Gallina Accounting to do the past years accounting and Macias Gini & O'Connell to do the past years audits. The problem to date is that in order to do the audits the firm must be Sarbanes-Oxley approved. This has been a long time in coming as the previous auditor failed to provide the necessary audits which lead to the stock being delisted. Once the accounting and the audits are completed then the Form 10 can be submitted to the SEC along with all the accounting and audits and the stock should be relisted within a couple months from the submittal. Connie Helwig, one of the board of directors will be overseeing the process on a weekly basis.
On a different vein Mark Wayne is making a personal trip to the Oil field this next week along with Hurricane IKE to review the plans for additional well development and review the water removal system.
Thank you all for your patience and confidence in the company.
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IMMEDIATE NEWS RELEASE
EAGLE ANNOUNCES THE FIRST LOAD OF OIL SHIPPED April 16, 2008
RENO, NEVADA, Eagle Environmental Technologies Ltd announced on April 16, 2008 that they have been able to get the first load of oil shipped since the severance or freeze on oil sales from last year. One transport is approximately 160 barrels of the premium oil quoted in the newspapers. Eagle's oil is actually paid a premium price of $2.25 OVER the quoted price. President Mark Wayne expects the production levels to steadily increase over the next several weeks in order to meet the goals of company stability and profits. Mr. Wayne is making a personal trip to the fields to review the plans for additional well development and resource management.
In addition, Mr. Wayne continues to track the accountants and keep the goal of finishing the accounting and then the audit by Early May. The 10 SB draft document prepared for submittal to the stock market is now completed and ready to be sent to the company attorney along with the audited financials for review and submission to our broker. The broker then submits it to the NASD securities review.
Thank you all for your patience and confidence in the
company.
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IMMEDIATE NEWS RELEASE
SEC REQUIRES NEW 10 SB FILING PRIOR TO TRADING October 8th, 2007
RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the SEC has refused to
modify or change the original ruling (12(j) caption) that was given to Eagle in
February 2006. It was that particular clause that pulled the stock from the
market and has held up our ability to get back on the OTC. The ruling means
that Eagle will have to complete the audits as planned and re-file the more
complete document, a "10 SB", that will allow the trading to resume. This is
more onerous than the 15C2-11 that the company had filed, but it will allow
Eagle to begin trading on the higher market gradient, OTCBB or better. This
ruling does not change our oil production or CryoYcix production plans.
This event, although disappointing, is not a
negative reading on the Company. It only means we have to finish the original
plan on the audits and the filing that we had begun under the former auditors.
It is always interesting to note however, that the original reason given for
this action by the SEC was to "protect the interests of the investors". The
Company fails to see what protection was granted to the investors by the SEC
with such an action as suspending your
ability to sell your investment. The
Company expects to have more news on the status of the new audits within a few
weeks and will continue to update the page.
Thank you all for your patience and confidence in the
company.
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IMMEDIATE NEWS RELEASE
NEW LISTING DOCUMENTS SENT TO NASD (National Association of Securities Dealers) August 13th, 2007
RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the documents needed by the NASD were sent off by the Broker for review by NASD prior to any approval to trade on the OTC "pink sheets". The NASD needs to conduct a thorough review of the Company's history to verify the status of the Company and all of its components and personnel. This process may take some time, up to two weeks or more, but when completed, the Company will be back trading its securities or stock. There is no timeline on the NASD process, but as soon as one is available, the information will be set forth. No pricing has been recommended for the securities at this time.
As the process continues, the Company will keep the shareholders updated to the various stages of the approval process.
Thank you all for your patience and confidence in the
company.
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IMMEDIATE NEWS RELEASE
NEW LISTING DOCUMENTS SENT TO BROKER/DEALER July 11th, 2007
RENO, NEVADA, Eagle Environmental Technologies Ltd announced today that the documents needed by the Broker were sent off for the preliminary review by the new prospective securities dealer. The Broker needs to conduct a thorough review of the Company's history to verify the status of the Company and all of its components and personnel. This process may take some time, but when completed, the Broker submits the reviewed documents to the NASD for its review prior to the trading of the security. There is no timeline on either party, and the NASD may have its own questions prior to approving our application to trade on the OTC "pink sheets".
As the process continues, the Company will keep the shareholders updated to the various stages of the approval process.
Thank you all for your patience and confidence in the
company.
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IMMEDIATE NEWS RELEASE
UPDATE February 2nd, 2007
RENO, NEVADA, Eagle Environmental Technologies
Ltd announced today that the audit is going to be delayed until the end of the
first quarter of 2007. The new audit will include 2004, 2005 and 2006, with the
addition of a stub of first quarter of 2007. This delay is due to the
resignation of the former auditor, Marc Lumer & Co. His resignation,
without a clearly defined reason, has hampered the new auditors on what points
to address in their new analysis. Our accountants, Mark Bailey &
Associates, have recommended that we put the company into a full operational
mode for at least 30 to 60 days to change the designation of the company from
developmental to fully operational.
In anticipation of this event, we
had made significant personnel changes in January in the oil field. In February
we expect to have our field in operation as soon as the State of Texas gives us
the necessary releases to begin pumping. It should be ready within the next
week and we can start the operations. We are going to continue this plan for
the audits and for the oil field operations. It is the only way we can achieve
the proper results for the company and end the stalemate brought on by Mr.
Lumer and the actions of the SEC in holding up our trading ability on the OTC.
As the company is now, we have 7
wells equipped and ready for full operations, and another 3 partially equipped
and can be ready within a week. With some additional funding, we can have
another 6 operating by the end of February. No matter what the audit concludes,
16 wells producing would put the company into the black and we can proceed with
the other projects.
The company will keep you apprised on the audit
program and the field operations as they develop. Thank you for your patience.
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IMMEDIATE NEWS RELEASE
UPDATE January 24th, 2007
RENO, NEVADA, Eagle Environmental Technologies Ltd.announced today that the annual shareholders meeting will be held in Reno, Nevada again. It will be on June 13, at the Peppermill Hotel and Casino. The details of the meeting will be sent out under separate cover later this Spring. We expect a large turnout this year as many changes have occurred in the company and the progress on our audits and business development will be available to all concerned. Plan to attend. The hotel has set up special prices for our shareholders and they will be made available as soon as the details can be sent.
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IMMEDIATE NEWS RELEASE
UPDATE December 29th, 2006 Happy New Years!
RENO, NEVADA, Eagle Environmental Technologies Ltd.announced that the audit effort is continuing. We have gotten a better understanding from the former auditor, Marc
Lumer and Co, on what promoted his resignation, but the information came to us
too late to get the audit process done in 2006.
Our new accountants/auditors are
reviewing the new information and expect to be able to render us a decision
after the New Year. We expect a positive response, as Lumer and Co did not have
any specific problem with the audit, just a general apprehension with the
historic activities of the company from its inception. This is normal if a
company is listed as a "Developmental Company" and not an "Operating Company".
Had our field operators performed satisfactorily in the oil field, we would
have had NO problems with the audit completion. We are correcting that problem
now and expect to clarify the operating status by February. As soon as that is
corrected, we should be ready to proceed with the filing.
In addition, we have started the
ordering of parts, drawings and plans for the CryoIcix units that were
discussed at the shareholders meeting. Jim Frye and Duane Corcoran of Applied
Control Technology are getting the items ready so production can begin soon. We
could have a unit ready for demonstration by the second quarter 2007. This
event alone would change our status to an Operating Company, with or without
the oil business. We are pushing on that front as well.
Even though we had some set backs
in 2006, we remain very optimistic about the future. With the efforts going on
now, we shall overcome the audit problems as well as getting the oil field into
solid production. Nobody walks away from 12 million barrels of oil!
I apologize for the delay, but we have no choices at
the moment. As things set now, we should be back in the market in the first
quarter of 2007. Management wishes all
of the shareholders and supporters, a very Happy New Year and a prosperous 2007
for all of us.
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IMMEDIATE NEWS RELEASE
UPDATE December 1st, 2006
RENO, NEVADA, Eagle Environmental Technologies Ltd. announced
that the auditor Marc Lumer & Company, has resigned from performing the
services for the company and will NOT finish the work required to submit to the
SEC. No reason was given. The company was prepared for such an event, and a new
auditor is being actively pursued at this time. More information will be
forthcoming as soon as it is available. Any delays in getting resubmitted to
the exchange are unknown at this time, but as the information becomes
available, we will post it.Eagle Environmental Technologies
Ltd announced that the new auditor has been contacted to continue the reviews
of the company. The preliminary reviews of the accountant work completed by
Mark Bailey and Associates are being done by the new firm. It is still in the
preliminary stages, but progress has been made as to moving through the documents.
It appears to be a three stage process of review, with the first stage
completed and we are in the second stage. The final review or third stage, immediately
follows and we are hopeful that it will be completed by mid December. All
parties are keenly aware of the time deadlines we face and are working
diligently to achieve completion on time. When a definitive date has been
received by the company, we will post that. In the meantime, our attorneys are
still on stand-by to submit the documents to the SEC as soon as they receive
them. OurNew York
brokers and advisors are prepared to assist us in any way possible once the
information is received by them. We had a meeting with all concerned including
the attorney, inNew York
last month.
I apologize for the delay, but we have no choices at
the moment. We have never been given a reason for the first auditor’s departure.
Our accountant is trying to get a reason for it to pass on to the new auditor.
As things set now, we should be back in the market in the first quarter of
2007.
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IMMEDIATE NEWS RELEASE SEC UPDATE October 11th, 2006
RENO, NEVADA, Eagle Environmental Technologies Ltd. announced
that the auditor Marc Lumer & Company, has resigned from performing the
services for the company and will NOT finish the work required to submit to the
SEC. No reason was given. The company was prepared for such an event, and a new
auditor is being actively pursued at this time. More information will be
forthcoming as soon as it is available. Any delays in getting resubmitted to
the exchange are unknown at this time, but as the information becomes
available, we will post it.
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IMMEDIATE NEWS RELEASE UPDATE September 15th, 2006
RENO, NEVADA, Eagle Environmental Technologies Ltd has completed
the information on the first two quarters of 2006, and as requested, the first
two months of the third quarter before we can be back on the board. The audit
information is in the Attorneys hands inNew
York, but due to the delays caused by the auditor, we
had to provide more information to be within the “current” standards of the SEC
requirements. Our accountants, Mark Bailey & Company, had compiled the
information, and are currently reviewing the updated Management Discussion
& Analysis (MD & A) for presentation to the attorney. The lawyers there
will need some time, perhaps up to two weeks, to prepare the new documents for
submission. One major change has occurred, the company has finally received the
designation of “Operating Company” from the auditor, as opposed to
“Developmental Company”. This is major step up in the eyes of the stock
markets. Getting back “on the market” will still be in the short future period,
but no dates have been provided to us. We are at the mercy of the lawyers and
the SEC. Of the two, the SEC will be the longest. It was they that pulled our
trading authority, which they said they would NOT do at the time, and which means
they will take the most time to review all of the documents. We have had
quality personnel doing our reviews and presentations, so that should help us
in the final analysis.
As to the oil field, we are still
in “severance”. (Not allowed to pump or sell oil by theTexas regulators). Our previous manager,
Redwood Oil and Gas has been replaced due to lack of production achievements.
He resigned in July. We have hired a new firm with 25 years of experience in
the oil fields, and the type of personnel we can depend upon to get the job
done. They are currently working with the State to get the severance lifted so
we can begin production while we do the required well certifications that had
not been done. The State requires that all wells (we have about 180) be tested,
repaired, or plugged in order to have a field operational. It does not matter
if it is one well in need of service or 50 wells. They shut the entire field
down until the work is completed. We expect to be back in production by October
with about 10 wells pumping, 5 in equipment additions and 10 others in
evaluation.
To quell any questions, the company
is NOT in decline, closing or in jeopardy from the lack of oil production. We
are expanding our oil field presence, and have undertaking an aggressive move
toward developing the CryoYcix equipment. My next news release will detail
those changes.
Thank you all for your patience and
encouragement during the past weeks and months. It is a long haul from this end
too.
Yours truly, Brian Wilmot CEO of Eagle Environmental
Technologies Ltd
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IMMEDIATE NEWS RELEASE
SEC UPDATE August 7th, 2006
RENO, NEVADA, Eagle Environmental
Technologies Ltd has received the word that the 2005 audit is complete and the
written report is being done this week. The accountants and the auditors have finished
the reviews of the data from the company. This document covers the previous
five years and brings all of the past audits into compliance with the new
Sarbanes-Oxley rules. We are VERY PLEASED with this occurrence. The
information on the first two quarters of 2006 is currently being reviewed and
completed as well. This will not slow us from our re-filing for trading, but
before we are back on the board, we will have to complete the first two
quarters.
The final audit copy will be
reviewed by the company management, and audit committee for any errors or
changes, and be submitted to the lawyers inNew York for preparation to re-submit to the
NASD exchanges. I cannot provide any price standards or which exchange we may
start on, but those events will be available at a later date. It will take
about one week to compile and review the documents, send to Eagle, be reviewed
and sent toNew York.
The lawyers there will need some time, perhaps up to two weeks, to prepare the
documents for submission. One major change has occurred, the company has
finally received the designation of “Operating Company” from the auditor, as
opposed to “Developmental Company”. This is major step up in the eyes of the
stock markets.
It may seem like a long lead time
to get back on the market, but it will go as fast as the normal logistics
allow. Thanks to all of the shareholders, officers and directors for their
patience and understanding in getting this difficult item cleared.
Brian Wilmot CEO of Eagle Environmental
Technologies Ltd
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IMMEDIATE NEWS RELEASE
SEC UPDATE July 14th, 2006
Eagle Environmental Technologies
Ltd herein is providing more information on the current stock trade halting by
the SEC. The accountants and the auditors have FINISHED the accounting and reviews of the data from the company!
Hard to believe, but it is true. The accountants will have to write the total
document up and provide a copy to the auditor for his final verification and
review, but the laborious efforts of detailing all of the past five years of
transactions is completed. We are VERY
PLEASED with this occurrence. The
accountants and auditors have done a very difficult job with total
professionalism and we at Eagle, thank them.
From here, the final audit copy
will be reviewed by the company management, and audit committee for any errors
or changes, and be submitted to the lawyers inNew Yorkfor preparation to re-submit to the
NASD exchanges. I cannot provide any price standards or which exchange we may
start on, but those events will be available at a later date. It will take the
accountants and auditors about one week to compile and review the documents,
send to Eagle, be reviewed and sent toNew
York. The lawyers there will need some time, perhaps
up to two weeks, to prepare the documents for submission.
It may seem like a long lead time
to get back on the market, but it will go as fast as the normal logistics
allow. We shall provide full backing to all the participants.
Thanks to all of the shareholders,
officers and directors for their patience and understanding in getting this
difficult item cleared.
Brian Wilmot CEO of Eagle Environmental
Technologies Ltd
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IMMEDIATE NEWS RELEASE SEC UPDATE May 20th, 2006
Reno, NV, Brian Wilmot, CEO of Eagle Environmental
Technologies Ltd provided more information on the
current stock trade halting by the SEC. The accountants and the auditors (two
separate entities) are STILL conducting reviews and reconciliation procedures
on the audits. As of today, they met up in the accountants offices inReno for the last three
days and have narrowed the discussion items, but have NOT satisfied questions. The
holdup seems to be from the auditor side with questions on the operations side,
as to which funds were capitalized and which are were expense. It is the
qualification of the audits that make this phase frustrating for all concerned.
Management finds the questions asked too late and not relevant to the final
audit as they are questions on the operations company, NOT Eagle. We can only
continue to press for conclusion prior to the meeting date which will probably
happen, but no one can verify.
This event is what we need in order
to reapply to the trading exchanges. The management shares your frustration and
concerns, and will continue to press forward. The company is NOT in any
jeopardy at this time, so we can continue to operate the fields, which are
producing at this time.
The management and directors of
Eagle wish to thank all of the shareholders for their patience in this matter. The
management looks forward to the upcoming shareholders meeting in June, where
these issues and others will be thoroughly discussed with the shareholders.
If you have not yet made your reservations, please
hurry as the hotel has only a few of the special rate rooms left for you. Just
call the Peppermill inReno
and use the code from your letter to get your rate. See you all there.
For shareholder or other information, call John Bowles at: 866-896-5800
(Symbol
EGVR, OTC Exchange, www.egvr.com)
50 W. Liberty, Suite 880, Reno, NV 89501
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IMMEDIATE NEWS RELEASE SEC UPDATE May 4th, 2006
Reno, NV, Brian Wilmot, CEO of Eagle Environmental
Technologies Ltd provided more information on the current stock trade halting
by the SEC. The accountants and the auditors (two separate entities) have been
conducting reviews and reconciliation procedures on the audits. As of today,
they are still working to finalize the questions. The holdup seems to be from
the auditor side with questions on the original efforts to obtain the oil
fields, and the subsequent efforts to get the field into production. Management
finds the questions at this time are extremely late in the asking and should
have been provided to management several months ago. We are NOT pleased to announce that the
accountants and auditors have NOT FINISHED
the audits, reviews and finalization of the documents as they had stated, “completed
BY THE END OF THIS MONTH!”
This event is the critical feature
we need in order to reapply to the trading exchanges. We have completed several
forms and the balance of the documents required by the 10 SB filing, so we will
be ready for the addition of the financial statements. A definite date for the
refilling period will be set in the near future, but we expect it to be near
May 10.
The management and directors of Eagle
wish to thank all of the shareholders for their patience in this matter. The
management intends to continue to press the auditors to finish the assignment
as they had agreed. More information will be available next week.
For shareholder or other information, call John Bowles at: 866-896-5800
(Symbol
EGVR, OTC Exchange, www.egvr.com)
50 W. Liberty, Suite 880, Reno, NV 89501
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IMMEDIATE NEWS RELEASE SEC UPDATE Apr. 11th, 2006
Reno, NV, Brian Wilmot, CEO of Eagle Environmental
Technologies Ltd provided more information on the
current stock trade halting by the SEC. The company has been working closely
with the accountants and auditors to complete the required audits in order to
re-file the application (10 SB) for trading. We are pleased to announce that
the accountants and auditors have stated that the audits, reviews and
finalization of the documents will completed BY THE END OF THIS MONTH!
This event is the critical feature
we needed in order to reapply to the trading exchanges. We are presently
completing several forms and the balance of the documents required by the 10 SB
filing, so it will be ready for the addition of the financial statements. A
definite date for the refilling period will be set in the near future, but we
expect it to be near May 1.
The management and directors of
Eagle wish to thank all of the shareholders for their patience in this matter,
and the diligent efforts of our attorneys and accountants in getting this
problem solved.
For shareholder or other information, call John Bowles at: 866-896-5800
(Symbol
EGVR, OTC Exchange, www.egvr.com)
50 W. Liberty, Suite 880, Reno, NV 89501
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IMMEDIATE NEWS RELEASE SEC UPDATE Mar. 22nd, 2006
Reno, NV, Brian Wilmot, CEO of Eagle Environmental
Technologies Ltd provided more information on the current stock trade halting
by the SEC. The company has hired aNew
York law firm to do the special filing of the new 10
SB, registration documents. The firm specializes in public filings and is on
stand-by at this time waiting for the final audits to clear the auditor and
accountants.
The company accountants have
completed the material required and are waiting for the auditor review. This
weekend, the auditor and accountants are reviewing the information, and
updating our “Management Discussion & Analysis” to be sure it complies with
the new SEC regulations. Upon the finalization of that process, the information
will be forwarded to the law firm for review and filing. We expect the entire
process will take about 10 to 15 business days to complete and be filed. At
that time, after the filing, we should be back on line. Details of the event
will be forthcoming as soon as they are available to us.
For shareholder or other information, call John Bowles at: 866-896-5800
(Symbol
EGVR, OTC Exchange, www.egvr.com)
50 W. Liberty, Suite 880, Reno, NV 89501
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IMMEDIATE NEWS RELEASE SEC UPDATE Mar. 13th, 2006
Reno, NV, Brian Wilmot, CEO of Eagle Environmental
Technologies Ltd provided more information on the
current trade halting by the SEC. The primarily accounting has been completed.
The accountants are waiting for the auditor review of the notes and related
support documents before their final submission. The auditor has been out of
the country until March 12. The accountants have stated that they believe the
final documents will be ready for the audit committee by March 24.
Wilmot is already in consultation with a law firm from
New York City to prepare the final documents for the required 10SB submission
to get the stock up and trading again. Further details on the timing of the
submission will be forth coming later this week.
For shareholder or other information, call John Bowles at: 866-896-5800
(Symbol
EGVR, OTC Exchange, www.egvr.com)
50 W. Liberty, Suite 880, Reno, NV 89501
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IMMEDIATE NEWS RELEASE SEC HALTING OF TRADE...RESUBMISSION PLANS FOR OTCBB Feb. 27th, 2006
Reno, NV, Brian Wilmot, CEO of Eagle Environmental
Technologies Ltd announced today, that the SEC has halted the trading of the
Company stock on the OTC exchange. The Company had planned for this event, but
the Company did not know the actual date of the occurrence, as it was due to a
past action from the SEC. The closing stock price will not change until the
Company is back on the market, so no loss of value is realized at this time.
The halting of trading was due to the error in the original filing of the 10SB
in 2000. The Company was never notified that the original filing had created a
“reporting Company”, and hence had not done the correct quarterly filings (8Qs,
10Qs). The SEC had notified us in 2005 that we were in “non-compliance” with
the reports, so we agreed to withdraw our original filing, and upgrade our old
audited financials to the new standard, include the 2005 audits and resubmit
the form 10SB again. The agreement with the SEC saved the Company several
hundred thousand dollars and cleared any regulatory clouds from our Company.
Management was striving to have the new audits etc. ready prior to the event,
but the auditors were unable to complete the extensive reviews instigated by
the new laws, Sarbanes/Oxley.
The auditors have stated that the
audits will be completed in March, and with the audits, and the Managements
Discussion documents, we will be resubmitting our application. This new
submission will allow us to qualify for the OTCBB (Over the Counter, Bulletin Board)
or better, such as the Small Cap NASDAQ. This means more brokers can trade the
stock and our trading market can be increased. In addition, we will have the
new assets from the oil field, the proven reserves and the equipment, included
with the new audits, which should increase the stock value when we re-file.
This action, though inconvenient to the shareholder,
was a planned event, and will allow the Company to emerge much stronger and
have more value to the shares. We are working diligently with the attorneys and
the auditors to speed the process up. Your patience is appreciated.
For shareholder or other information, call John Bowles at: 866-896-5800
(Symbol
EGVR, OTC Exchange, www.egvr.com)
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