Converted Organics
Converted Organics Expands Retail Presence in Midwest; Sixteen New Stores Carry Company's Organic Fertilizer Products
BOSTON, May 04, 2009 (BUSINESS WIRE) -- Converted Organics Inc. (NASDAQ:COIN) announced today that it has strengthened its presence in the mid-west retail market, adding 16 new stores in Kansas, Nebraska, Missouri and New Mexico to the network of U.S. lawn and garden centers currently selling Converted Organics' all-natural organic fertilizer products. GardN'Wise, a member of the co-operative organization of lawn and garden product distributors called Gro Group, Inc., recently fulfilled each store's order for Converted Organics' granular fertilizers.
Converted Organics added the names of the following lawn and garden centers to its store locater at www.convertedorganics.com (see "Where To Buy") to help consumers find a retail outlet in their area that carries Converted Organics' products: Clinton Parkway Nursery (Lawrence, KS), Family Tree Nursery (Overland Park, KS; Shawnee, KS; Liberty, KS) Garden Source (Portales, NM), Great Plains Landscape and Design (Beloit, KS), Heartland Nursery (Kansas City, MO), Johnson's Garden Center (three locations in Wichita, KS), Mullhall's Nursery (Omaha, NE), Soil Service Garden Center (Kansas City, MO), Stone Creek Nursery (El Dorado, KS; Hesston, KS; McPherson, KS), and the Third Day (Hobbs, NM).
"Converted Organics is establishing a solid foothold in the east coast and mid-west retail markets, and we are continuing to strengthen our presence in these geographic areas," said Edward J. Gildea, President of Converted Organics. "We are confident that our ongoing marketing and sales efforts will yield a cross-country network of retail outlets that carry Converted Organics' products."
Converted Organics Inc. Announces a 65 Percent Increase in 2010 First Quarter
Sales and Elimination of Going Concern Qualification
BOSTON, Apr 13, 2010 (BUSINESS WIRE) -- Converted Organics Inc. (COIN) announced
today that sales of its organic fertilizer products and tip fees totaled $811,600
for the first quarter of 2010, a figure that boosts Company sales 65 percent from
its reported 2009 first quarter earnings of $492,000. The Company also announced
that its financial statements for the fiscal year ended December 31, 2009,
included in the Company's Annual Report on Form 10-K filed with the Securities
and Exchange Commission on March 31, 2010, did not contain a going concern
qualification from its independent public accountants, CCR LLP.
"We are pleased with the significant progress our Company has demonstrated with
our first quarter earnings and we are happy to report the elimination of the
going concern qualification," said Edward J. Gildea, President of Converted
Organics. "We expect to see this growth continue while our priorities remain
increasing sales of our organic fertilizer products, expanding through
acquisition opportunities, and increasing manufacturing efficiency."
About Converted Organics Inc.
Converted Organics (COIN), based in Boston, MA, is dedicated to producing
high-quality, all-natural, organic soil amendment and fertilizer products through
food waste recycling. The Company uses its proprietary High Temperature Liquid
Composting (HTLC) system, a proven, state-of-the-art microbial digestion
technology, to process various biodegradable food wastes into dry pellet and
liquid concentrate organic fertilizers that help grow healthier food and improve
environmental quality. Converted Organics sells and distributes its
environmentally-friendly fertilizer products in the retail, professional turf
management, and agribusiness markets.
This press release contains forward-looking statements that are subject to risks
and uncertainties. These forward-looking statements include information about
possible or assumed future results of our business, financial condition,
liquidity, results of operations, plans and objectives. In some cases, you may
identify forward-looking statements by words such as "may," "should," "plan,"
"intend," "potential," "continue," "believe," "expect," "predict," "anticipate"
and "estimate," the negative of these words or other comparable words. These
statements are only predictions. One should not place undue reliance on these
forward-looking statements. The forward-looking statements are qualified by their
terms and/or important factors, many of which are outside the Company's control,
involve a number of risks, uncertainties and other factors that could cause
actual results and events to differ materially from the statements made. The
forward-looking statements are based on the Company's beliefs, assumptions and
expectations of our future performance, taking into account information currently
available to the Company. These beliefs, assumptions and expectations can change
as a result of many possible events or factors, including those events and
factors, not all of which are known to the company, described most recently in
the "Risk Factors" section in the Company's most recently filed annual report on
Form 10-K. Neither the Company nor any other person assumes responsibility for
the accuracy or completeness of these statements. The Company will update the
information in this press release only to the extent required under applicable
securities laws. If a change occurs, the company's business, financial condition,
liquidity and results of operations may vary materially from those expressed in
the aforementioned forward-looking statements.
COIN-G
SOURCE: Converted Organics Inc.
Converted Organics Inc.
Investor Contact:
PR Financial Marketing
Jim Blackman, 713-256-0369
jim@prfmonline.com
or
Public Relations Contact:
Kaitlyn Siner, 617-624-0111
ksiner@convertedorganics.com
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