Kurspotential über 170 %!
--button_text--
interessant
|
witzig
|
gut analysiert
|
informativ
|
derzeit führt Diatect ein Private Placement durch. Die Aktien sind für
ein Jahr gesperrt. Haben Sie daran
Interesse. Fundamental scheint sich die Sache sehr positiv zu
entwickeln. Demnächst geht eine Lieferung an 35 Wal Marts raus.
Weiterhin finden derzeit Gespräche mit Home Depot statt.
quartalszahlen kommen erst mitte august.
gruß firmenchecker
Optionen
HEBER, Utah, Aug. 17 /PRNewswire-FirstCall/ -- Diatect International Corporation (BULLETIN BOARD: DTCT) WKN: 913540 Symbol: DI8.FSE (Frankfurt) DI8.BER (Berlin) today reported revenue in the second quarter of 2004 as $175,535, compared with revenue in the second quarter of 2003 of $212,274. Net loss for the second quarter of 2004 was ($700,603) or ($0.01) per share compared with a net loss of ($970,737) or ($0.02) per share in the comparable period a year ago.
For the first six months of 2004, revenue was $358,121, a gain of 4.5% over revenue of $342,727 in the first six months a year ago. Net losses for the first six months of 2004 were ($1,163,507) or ($0.02) per share, a 32.8% decrease over a net loss of ($1,732,650) or ($0.04) for the first six months a year ago.
Diatect CEO Jay Downs said, "The 4% increase in our revenues in the six months ended June 30, 2004 compared to 2003, can be attributed to a change in marketing strategies away from the smaller retailers to focus on the larger chains. As a result, the progress we believe we are making with the mass merchandisers will not be reflected in revenue numbers until the 2005-2006 time frame."
Optionen
| ![]() |
Optionen
| ![]() |
Optionen
| ![]() |
Optionen
Diatect Begins Shipments of Results Fire Ant Product to Major National Retailer Heber, UT, December 30, 2004 - Diatect International Corporation (OTC Bulletin Board: DTCT) WKN: 913540 Symbol: DI8.FSE (Frankfurt) DI8.BER (Berlin) announced today that a national retailer has ordered and received its first shipments of Results fire ant product for retail sale in Texas, Florida, Louisiana and Arkansas stores.
Dave Andrus, interim chairman, president and CEO, said, "We are on track with this major retailer in many of its stores. We have already received a number of re-orders. We hope this is the start of a long-standing relationship. We are particularly pleased with the early re-orders, which suggests that the Results product is making a solid early impression with consumers."
About Diatect
Diatect International Corporation is an insect control and natural resource company headquartered in Heber near Salt Lake City. Diatect products are an EPA-labeled new generation of non-toxic insect control products marketed for sustainable and organic food production. The company's Diatect? and Results products are sold into the multi-billion dollar agriculture, industrial, home and garden industry worldwide. The Results line for fire ant, tomato and garden, pet powder and indoor markets is packaged for the over-the-counter market and consumer use.An investment profile on Diatect may be found on the website www.hawkassociates.com/diatect/profile.htm.
For further information contact Diatect International Shareholder Services at (435) 654-4370, e-mail: shareholderservices@diatect.com, or Frank Hawkins or Julie Marshall, Hawk Associates, (305) 852-2383, e-mail: info@hawkassociates.com. Detailed information about Diatect can be found on the website www.diatect.com. Copies of Diatect press releases, SEC filings, current price quotes, stock charts and other valuable information for investors may be found on the website: www.hawkassociates.com/diatect..
This announcement includes forward-looking statements that involve risk and uncertainties. While these statements are made to convey to the public Diatect's progress, business potential and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Such statements are made based upon current expectations that are subject to risk and uncertainty. In particular, management's estimates of future revenue amounts and timing are based upon product delivery schedules, which may be subject to unforeseen delays. Diatect does not undertake to update forward-looking statements in this news release to reflect actual results of its marketing plan and changes in assumptions or changes in other factors affecting such forward-looking information. Vertrieb beginnt
Optionen
Exchange Quote
Last | Change (%) | Trade Time | Bid (size) | Ask (size) |
0.08 | ![]() | 13:39 | 0.06 (50) | 0.08 (50) |
Latest Ticks | Prev Close | Open | Low | High |
+==+ | 0.05 | 0.06 | 0.055 | 0.08 |
Day Volume | Avg Day Vol | VWAP | 52 Wk Low | 52 Wk High |
120,500 | 168,000 | 0.0619 | 0.04 | 0.30 |
# of Trades | Last Size | Avg Trade Size | P/E Ratio | Market Cap (mil) |
14 | 5,000 | 8,607 | 0 | 6 |
Optionen
�
���������������
D
IATECT NINE-MONTH REVENUE $579,599.B
EGINS SHIPMENTS OF RESULTS FIRE ANTP
RODUCT TO MAJOR NATIONAL RETAILER.I N V E S T O R R E L A T I O N S C O M M U N I C A T I O N S
204 Ocean Dr. · Tavernier, Fla. 33070 · Tel: (305) 852-2383 · Fax: (305) 852-2378 · E-mail: info@hawkassociates.com or www.hawkassociates.com
Diatect International (435) 654-4370
875 South Industrail Parkway, Heber, Utah 84032
Chairman, President and CEO: Dave Andrus
www.diatect.com and www.hawkassociates.com
Investor Contact: Frank N. Hawkins, Jr. or Julie Marshall (305) 852-2383
December 30, 2004 December 30, 2004
Hawk Associates Inc.
Diatect International
C
OMPANY DESCRIPTIOND
iatect International Corporation is an insectcontrol and natural resource company headquartered
near Salt Lake City, Utah. Diatect?s products
and services are sold into the multi-billion
dollar agriculture, industrial, home and garden
industry worldwide. The company is dedicated
to protecting the earth?s environment and its
inhabitants by producing registered EPA nontoxic
insect control products that safely eliminate
harmful insects in a cost-effective manner.
T
he company produces DiatectTM andResultsTM insect control products. These represent
a new generation of EPA-labeled and
approved non-toxic insect controls for sustainable
and organic food production. Available
nationwide, Diatect products are so safe that they
can be applied to fruits and vegetables the same
day they are harvested. They can be applied as a
dust or sprayed in solution with water. Focusing
on the fire ant, tomato-and-garden, rose and floral
and indoor markets, the Results line of products are
packaged for over-the-counter and consumer use.
D
iatect V has been listed by the OrganicMaterials Review Institute (OMRI) for insect
control use in organic food production, opening
the door for product sales in the fast-growing
organic farming industry. Organic product sales
have grown at least 20% each year since 1990
resulting in an estimated $12.2 billion in retail
sales in 2001.
A
griculture is the largest end-user sector forinsect control, followed by commercial, industrial,
home, garden and government applications.
The U.S. market for agricultural pesticides is
estimated to exceed $320 billion.
EPA-A
PPROVED LABELST
he company has nine fully registered product (?labels?) from the U.S.Environmental Protection Agency granting federal clearance to manufacture,
market and sell specified insect control products.
The ResultsTM line includes:
1. Diatect V insect control for users requiring an organic certification.
Controls all major pest problems without synthetic ingredients. State-certified
for organic use in 30 states.
2. Diatect II Multi-Purpose insect control for use against over 60 insects on
over 130 edible crops and plants. Distributed in the retail market under
the trade name ?Results.?
3. Diatect III insect control for use against fire ants, cockroaches and most
other insects. Formulated specifically for areas heavily used by people.
4. Diatect Multi-Purpose insect control for use in the agriculture market,
edible growing crops, animal quarters, livestock and grain storage.
5. Results Pet Powder for use against fleas, ticks and lice on pets.
DTCT - OTC BB
Closing Price
(12//29/04) $0.06 FY '03 Revenue $742,31652-Week Range $0.04 - 0.30 FY '03 Net Income $7,500,000
Basic Shares 76.8 mil. FY '03 EPS $0.12
Diluted Shares 76.8 mil. Total Assets
(9/30/04) $16.0 mil.Market Cap. $4.6 mil. Long-Term Debt
(9/30/04) $174,971Avg. Daily Trading 156,297 Insider Ownership 16.5%
Fiscal Year End Dec. 31 Est. Public Float 14.8 mil.
The information contained herein is believed to be accurate and is based upon sources which are considered reliable but are not guaranteed by Hawk
Associates or the company mentioned. This information is subject to change without notice. Hawk Associates is not a registered broker dealer. Neither Hawk
Associates nor the company mentioned assumes any responsibility for the information contained herein. The company featured in this report is a client of
Hawk Associates, Inc. This does not represent an offer to buy or sell any security. This profile is protected by applicable copyright laws. No permission is
granted to copy, distribute, modify, or post any text, graphics, design or logos.
Hawk Associates Inc.
T
HE OUTLOOKDiatect?s sales revenue for FY '03 was $742,729 compared
with $769,600 in FY '02. The company booked $12 million
in connection with the sale of 90% of a diatomaceous earth
ore reserve in Oregon for a note receivable of $31.1 million.
Consequently, the company reported net income of $7.5
million or $0.12 diluted earnings per share for the year
ended Dec. 31, 2003 vs. ($2.1 million) or ($0.05) in 2002.
Sales revenue for the nine months ended September 30, '04
was $579,599 compared with $583,811 a year ago. Gross
profits for the first nine months of FY '04 was $333,049 compared
with $338,968 for the nine months ended September
30, '03.
Operating expenses for the nine months ended September
30, 2004 were lower than the prior year period. Diatect
has taken a very aggressive approach in reducing operating
expenses through free advertising (product awareness), the
controlling of salary, wages and benefits, reduction of travel
expenses, manufacturing and shipping with a reduced number
of personnel and operating as lean manufacturing.
In the nine months ended September 30, 2004, liquidity
was derived from revenue and the issuance of notes payable
and the issuance of common stock for cash. Cash used in
operations exceeded revenues. Management feels that the
remainder of the fiscal year will be comparable to last year,
and is not anticipating any significant increases or decreases
for the remainder of FY '04. However, with management's
reinvesting of its marketing strategy, significant revenue
may be realized during the fourth quarter from the large
retail sector. During the September 30, 2004 quarter the
company recognized the first payment of $1,945,350 for the
note receivable of $31,125,600 in current assets. The current
portion of mine receivable was impaired to $750,000.
The company said for the remainder of this year, management
has taken a proactive approach in marketing for the
future. It believes the progress it is making with mass merchandisers
will not be reflected in revenue numbers until
the 2005-2006 time frame.
W
EBSITE INFORMATIONCopies of DTCT press releases, current price quotes, SEC
filings, and other valuable information for investors may
be found on these websites:
T
HE NON-TOXIC TECHNOLOGYDiatect products are made from a combination
of natural ingredients officially
graded as less toxic than either table
salt or aspirin. Pyrethrum is a lethal
nerve irritant to insects refined from the
African Daisy. Harmless to mammals and
birds, it immediately paralyzes insects.
Once exposed to the natural environment, Pyrethrum
decomposes into harmless by-products that do not accumulate
in the food, water or soil.
Diatomaceous Earth (DE), also known as Silicon Dioxide,
is a mineral mined from the dry beds of ancient, freshwater
lakes. DE is not a poison. It consists of sharp-edged microscopic
blades and spikes that cut insects' skin and shells,
damage the watertight seal upon which the bug depends
and literally draws an insect?s life-sustaining fluid from it.
DE is EPA labeled as GRAS (generally recognized as safe) in
food production, water and the environment. The talc-like
powder, which is harmless to mammals, birds and humans,
sticks to insects on contact. Diatect combines Pyrethrum
and DE. Pyrethrum provides a fast ?knock-down? to insect
pests. DE persists after Pyrethrum decomposes, controlling
future insects due to insect hatch or from insect migration
from untreated neighboring fields.
RISK FACTORS
? Competition by large, well-established companies
? Impact of weather conditions on insect control demand
? Company lacks operating history
? Access to capital
R
ECENT KEY DEVELOPMENTS12/30/04
Diatect begins shipments of Results fi re ant product tomajor national retailer.
11/22/ 0 4
Q3 revenue of $194,477 vs. $241,084 in Q3 of 2003.Q3 net loss of ($814,580) or ($0.01) vs. a net profi t
of $14,784,967 or $0.30 per share (including one-time
extraordinary gain) in 2003. First nine months revenue
$579,599.
10/28/04
Diatect CEO Jay Downs resigns. VP Dave Andrusnamed interim CEO.
08/17/04
Q2 revenue of $175,535 vs. $212,274 in Q2 of 2003.Q2 net loss of ($700,603) or ($0.01) per share vs. a loss
of ($970,737) or ($.02) EPS in 2003.
06/02/04
Diatect International Corp. releases 2005 product set.05/18/04
Q1 revenue of $209,587 vs. $130,453 in Q1 of 2003.Q1 net loss of ($583,470) or ($.01) per share vs. net
loss of ($736,341) or ($.02) EPS in 2003. Signs LOI to
acquire ISP business of Crescent.
04/15/04
FY '03 $742,729 vs. $769,600 in 2002. FY '03 net incomeof $7.5 million or $0.12 per share vs. ($2.1 mil.)
or ($0.05) per share last year.
D
IATECT INTERNATIONALOTCBB: DTCT
D
IATECT'S MANAGEMENT? David H. Andrus, Interim President and CEO:
In-depth knowledgeof Diatect products and production, transportation and application.
Licensed Pest Control Advisor. Served in the U.S. Marine
Corps for 10 years in the logistics and intelligence fi eld.
Optionen
Der Kursverfall war absurd und durch nichts ausser mangelnder Aufmerksamkeit (schlechter PR) zu begründen. Das Allerbeste an dieser Aktie ist: die haben Zeit. Der Verkauf der Kieselmine hält die Verwässerung in Grenzen.
Diatect wird ganz unweigerlich wieder steigen. Die Produkte sind markt- und konkurrenzfähig und in zunehmendem Masse im Trend, denn auch die Amis merken langsam, dass man mit Mutter Natur etwas vorsichtiger umgehen sollte.
Ich freue mich jedenfalls auf den Tag, an demn die Firma höhere sales filen. Meines Erachtens wird der Kurs schon vorher in die .17 Cent-Region laufen, aber dann: KABOOOOOOOM
Ich wünsche allen eienen guten Rutsch und ein gesundes, erfolgreiches neues Jahr!
DC
Optionen
Ich denke es wird erst nach der Nachricht richtig losgehen und das ist nach dem 1. Jan.
Denn veröffentlicht wurde dei Meldung erst nach Börsenschluss, und das volumen war sehr wenig. Was da überverkauft sien soll ist mir ein Rätsel, weil es unter dem Tagesdruchsnitt war.
KENNE bei Diatect höhere Umsätze und ich schätze, es wird ab näschte Woche ein paar mehr Umsätze geben.
Charttechn. sieht es wirklich nicht schlecht aus, und dann kommen die News aussenvor.
Composite Indicator
Trend Spotter TM Hold
Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Sell
20 Day Bollinger Bands Buy
Short Term Indicators Average: 60% - Buy
20-Day Average Volume - 162805
Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Sell
50 Day Parabolic Time/Price Buy
Medium Term Indicators Average: 50% - Buy
50-Day Average Volume - 169386
Long Term Indicators
60 Day Commodity Channel Index Hold
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Sell
Long Term Indicators Average: - Hold
100-Day Average Volume - 148175
Overall Average: 40% - Buy
Price Support Pivot Point Resistance
0.0800 0.0467 0.0717 0.0967
Optionen
war also innerhalb der Börsenzeiten in den USA.
Frage mich, warum die das als 8K gefiled haben???
Vielleicht ist das billiger als ne normale PR...
na ja, meiner Oma würde das gefallen.
Momentan wird ja auch gehandelt: Kurs ist bei 0.075 und einem unglaublichen Volume von 1000 Stücken
Bid 0.06 Ask 0.075
Keine Ahnung warum die keiner kauft...
Ich werde mir am Wochenende zusammen mit dem Kater mal das filing reinziehen.
AN DEN MODERATOR: bin ganz locker... aber wie viele Zeichen sind denn erlaubt??
Optionen
Insider filings are updated daily and are based on forms filed monthly with the SEC.
Optionen
Nachricht war schon im Nov.
Form 10QSB for DIATECT INTERNATIONAL CORP
22-Nov-2004
Quarterly Report
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Cautionary Statement Regarding Forward-looking Statements
This report may contain "forward-looking" statements. Examples of forward-looking statements include, but are not limited to: (a) projections of revenues, capital expenditures, growth, prospects, dividends, capital structure and other financial matters; (b) statements of the plans and objectives of our management or Board of Directors; (c) statements of future economic performance;
(d) statements of assumptions underlying other statements and statements about us and our business relating to the future; and (e) any statements using the words "anticipate," "expect," "may," "project," "intend" or similar expressions.
Nine Months ended September 30, 2004 compared to September 30, 2003
During the nine months ended September 30, 2004 and 2003, our revenues were $579,599 and $583,811, respectively, with costs of sales of $246,549 and $244,843 with gross profits of $333,049 and $338,968. During the nine months ending September 30, 2004 and continuing for the remainder of this year management has taken a proactive approach in marketing for the future. The revenue numbers will not reflect the significant progress management has been able to achieve with the mass merchandisers until 2005/2006.
Operating Expenses. For the nine months ended September 30, 2004 and 2003, total operating expenses were $1,693,367 and $2,137,086, respectively, for total operating losses of $1,360,318 and $1,798,118.
The operating expenses for the nine months ended September 30, 2004 were lower than the prior year period. Management has taken a very aggressive approach in reducing operating expenses through free advertising (product awareness), the controlling of salary, wages, and benefits, reduction of travel expenses and manufacturing / shipping with a reduced number of personal and operating as lean manufacturing.
Other Income and Expenses. For the nine months ended September 30, 2004 and 2003, other income/expenses showed a loss of $740,944 and gain of $14,850,381, respectively. Interest expense was the primary component of other expenses for the respective periods and was higher in 2004 due to increased borrowing and debt service. The gain in the nine months September 30, 2003 was from the sale of mining property.
For the nine months ended September 30, 2004 and 2003, we had net loss of $2,101,262 and gain of $13,052,263 and loss per share was $(0.03) and gain $0.27, respectively.
Liquidity and Capital Resources
In the nine months ended September 30, 2004, liquidity was derived from revenue and the issuance of notes payable and the issuance of common stock for cash.
Cash used in operations exceeded revenues. Management feels that the remainder of the fiscal year will be comparable to last year. Management is not anticipating any significant increases / decreases for the remainder of FY 2004.
However, with managements reinvesting of its marketing strategy significant revenue may be realized during the 4th quarter from the large retail sector.
During September 30, 2004 quarter the Company recognize the first payment of $1,945,350 for the note receivable of $31,125,600 in current assets. The current portion of mine receivable was impaired to $750,000.
At September 30, 2004, we had current assets of $1,982,695, consisting primarily of accounts receivable of $119,659, prepaid consulting of $216,879 and $896,157 in inventory. We had current liabilities of $5,671,257, consisting primarily of accounts payable of $908,357, a line of credit of $146,138, interest payable of $709,590, and current notes payable of $2,746,940, plus a mortgage note payable of $847,000. Accordingly, we have a working capital deficit of $3,688,562. At September 30, 2004, we had property, plant and equipment totaling $1,064,217, net of depreciation, and other assets of $13,997,372, consisting primarily of the receivable for the sale of mine less a reserve.
Cash used in operations for the quarter ended September 30, 2004 was $783,118.
In 2004, operations have been funded by cash from operations and subsidized by proceeds from notes payable.
Cash used by investing activities for the quarter ended September 30, 2004 totaled $7,522 for the purchase of property plant, and equipment.
Cash flows from financing activities for the quarter ended September 30, 2004 totaled $790,375 consisting of cash received from the sale of common stock, proceeds from newly issued notes payable, offset by payments on previously issued notes payable and line of credit. Non-cash financing activities included the issuance of common stock for notes payable, interest, and debt for accounts payable totaling $2,289,102.
As a result of our past production increase and delays in scheduled shipments, we currently have over 580,000 finished product units with a potential wholesale value of over $4.5 million. We are continuing to reinvest in our market strategy. The wholesale, retail and commercial outlets are expected to continue to absorb the excess inventory.
During the balance of fiscal year 2004, we may seek working capital from several sources, including the equity markets and private investors.
Impact of Inflation
We do not anticipate that inflation will have a material impact on our current or proposed operations.
Seasonality
We have experienced slight variations in sales of products attributable to seasonal factors.
ITEM 3.
CONTROLS AND PROCEDURES
(a) Evaluation of disclosure controls and procedures. We believe our disclosure controls and procedures (as defined in Sections 13a-14(c) and 15d-14(c) of the Securities Exchange Act of 1934, as amended) are adequate, based on our evaluation of such disclosure controls and procedures on September 30,2004.
(b) Changes in internal controls. There were no significant changes in our internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation.
Optionen
http://sec.gov/cgi-bin/...State=&SIC=&owner=include&action=getcompany
So, jetzt habe ich eben mit Frank Hawkins (spricht deutsch) von der PR-Firma Hawk Associates telefoniert ((TEL (001305) 852-2383)).
Er meinte, Diatect hätte die News filen müssen, da die Firma derzeit mit einer Invstorengruppe im Gespräch ist und das Filing der einzige Weg gewesen wäre, dem Investor gegenüber die News legal und den SEC-Vorschriften gemäß zu bestätigen.
Hmmmmm... scheint auf jeden fall Leben in die Bude zu kommen.
Gruß
DC
Optionen
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
CLOSE
The following are just a few examples of the satisfied customers using DIATECT® and RESULTS Brand Insect Control products: Ellen M. Fishel, Forestry Resources Landscape Supply, Fort Myers, FL:
Patty Allred, Allred's Yard & Garden, LLC:
The Natural Gardener, Austin, TX, from an e-mail message:
Joni Leetzow Rametta, Financial Consultant, Salomon Smith Barney:
H. Peter Kaleta, P.E., Wastewater Collection Superintendent, Phoenix, AZ:
Martin Tkacs, from an e-mail message:
Travis Demarest, Executive Director, Bay Area SPCA:
|
Optionen
DIATECT® V insect control is for users requiring an organic certification. Controls all major pest problems without |
DIATECT® V is safe to use in the following areas: | ||
|
![]() | |
Optionen
Diatect II und III
http://www.diatect.com/sustainable_agriculture.htm
![]() | ![]() | ![]() |
![]() | ![]() | ![]() |
|
Optionen
Diatect International's full-line of products include: | ||
| ||
Diatect International's products are available through numerous retail outlets. Visit our Product Locator section and find out where. |
Optionen
Heber, UT, March 16, 2005 - Diatect International Corporation (OTC Bulletin Board: DTCT) WKN: 913540 Symbol: DI8.FSE (Frankfurt) DI8.BER (Berlin) announced today its exploration of major structural changes and the signing of a memorandum of understanding (MOU) to acquire The Event Source, a sizable military contractor operating in Iraq.
Under the terms of the MOU, the company contemplates acquiring the assets of The Event Source, a division of Paul Morrell, Inc., for $80 million. As currently envisioned, Diatect would issue a promissory note for the purchase price secured by the assets of The Event Source. Following the acquisition, the company would operate The Event Source's business in addition to its current insect control business.
Prior to the completion of the acquisition, shareholders will be asked to approve a change of domicile of the company from California to Nevada and a recapitalization of the company in which the approximate 92 million shares of issued and outstanding common stock will be reverse split 6-to-1 without any consolidation of approximately 7.4 million additional shares that will not be subject to consolidation, subject to complying with regulatory requirements. The company would retain its 100 million share authorized capitalization. The company anticipates that it will change its name to Morrell International, Inc.
Dave Andrus, president, CEO and chairman, said, "This is a watershed event for Diatect and the company's shareholders. The Morrell organization will be an outstanding partner if we are able to complete the transaction contemplated by the MOU. We are excited about working with Phil Morrell, who has built an outstanding collection of companies."
In related events, Diatect sold its 20,254-square-foot office and warehouse building in Heber City for $900,000 in cash. The company is currently negotiating a lease agreement for the property with Morrell & Associates, LLC.
The company also agreed to issue to Philip Morrell 1.4 million shares of restricted common stock for an aggregate of $402,000.
In other actions, the company's board of directors has concluded that the company's financial statements for the year ended Dec. 31, 2003 and all interim periods thereafter should be placed under review and should no longer be relied on. The board has concluded that the company's recording of a $12 million note receivable from a related party is likely a misstatement and that the company will likely record either no value or only a substantially reduced value for that note receivable. The company has retained an accounting professional to assist in a comprehensive internal review of its financial statements to determine the extent of future corrections.
About The Event Source
The Event Source is a United States-based company incorporated in Utah with more than 300 employees. The company's primary business in Iraq is constructing and operating dining facilities and completing construction projects for the U.S. military.
Established by Phil and Paul Morrell to support U.S. military operations throughout the world, The Event Source was the primary military contractor for the 2002 Olympic Winter Games in Salt Lake City. During the Olympics, the company provisioned all of the life support areas, including barracks, laundries and recreation facilities, and supported dining facilities for thousands of military, private security and transportation personnel.
About Diatect
Diatect International Corporation is an insect control and natural resource company headquartered in Heber near Salt Lake City. Diatect products are an EPA-labeled new generation of non-toxic insect control products marketed for sustainable and organic food production. The company's Diatectª and Results products are sold into the multi-billion dollar agriculture, industrial, home and garden industry worldwide. The Results line for fire ant, tomato and garden, pet powder and indoor markets is packaged for the over-the-counter market and consumer use.
An investment profile on Diatect may be found on the website www.hawkassociates.com/diatect/profile.htm.
For further information, contact Diatect International Shareholder Services at (435) 654-4370, e-mail: shareholderservices@diatect.com, or Frank Hawkins or Julie Marshall, Hawk Associates, (305) 852-2383, e-mail: info@hawkassociates.com. Detailed information about Diatect International Corporation can be found at www.diatect.com. Copies of Diatect press releases, SEC filings, current price quotes, stock charts and other valuable information may be found at www.hawkassociates.com/diatect..
This announcement includes forward-looking statements that involve risks and uncertainties. While these statements are made to convey to the public Diatect's progress, business potential and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Such statements are made based upon current expectations that are subject to risk and uncertainty. In particular, management's estimates of future revenue amounts and timing are based upon product delivery schedules, which may be subject to unforeseen delays. Diatect does not undertake to update forward-looking statements in this news release to reflect actual results of its marketing plan and changes in assumptions or changes in other factors affecting such forward-looking information.