Press Release
SSWM to Acquire RESTIC Properties
Company to Acquire Niche Market Real Estate Firm Capitalizing on Sub-Prime Crisis
CARLSBAD, Calif.--(BUSINESS WIRE)--April 2, 2008--Robert Brehm, acting CEO of Sub Surface Waste Management of Delaware, Inc. (Pink Sheets: SSWM - News), announced that in conformance with its new operational mandates, it has agreed to acquire the intellectual property and assets of RESTIC Properties. Under the terms of the agreement, SSWM will raise capital for RESTIC to further develop its niche market.
RESTIC is unique in that it helps individuals achieve home ownership with the assistance of individual investors. RESTIC was designed to bridge the home ownership gap in certain markets caused by the disparity between real estate prices and incomes. Its model is a workable solution for the current sub-prime and foreclosure crisis although it is a model “for all seasons”.
With divorce rates approaching 50%, small business owners struggling, approximately 45% of the population with a credit problem, teachers, the military and others having become underserved by the current ownership and qualification system like FICO, RESTIC believes it's time for a change.
The RESTIC system adds another dimension to home ownership that allows the participants to take advantage of all of the benefits that real estate has to offer. Quality buyers can achieve home ownership without the necessity of loan qualification or the fear of a mortgage “crisis” in their future. RESTIC remains a participant in the process and shares in its success.
RESTIC is scalable and replicable and it plans to penetrate those markets where its approach makes as much sense as in San Diego. RESTIC Properties is the first incubator company of SSWM under its new name of Green Mountain Development Corp.
Robert Brehm, acting CEO of SSWM, stated, “RESTIC Properties has the ability to generate both significant earnings and asset appreciation rapidly. It follows our acquisition philosophy of acquiring cash generators rather than cash users. The principals of RESTIC have many years of experience and successes in real estate in their past. I look forward to a strong business relationship and positive contributions to the SSWM’s bottom line.” For more information visit, their website at www.ResticProperties.com.
E.J. Irvine, Jr., President of RESTIC, said: ”Our association with SSWM provides us a vehicle to capitalize and value our earnings and growth. Our business opportunity is wide-open and exciting for us and for our clients. We look forward to a long and profitable relationship while building a business that will make all of us proud.”
About Sub-Surface Waste Management
Sub-Surface Waste Management of Delaware, Inc., a majority owned subsidiary of U.S. Microbics, Inc., (Pink Sheets: BUGS - News), provides management services for its subsidiary companies.
Investors and media contact Robert Brehm at 760/918-1860, ext. 102 or email at bob@bugsatwork.com.
The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis or Plan of Operation" and other sections of the company's Form 10-KSB and other publicly available information regarding the company on file with the Securities and Exchange Commission. The company will provide you with copies of this information upon request.
Contact:
Sub-Surface Waste Management
of Delaware, Inc.
Robert Brehm, 760/918-1860,
ext. 102
bob@bugsatwork.com
Source: Sub-Surface Waste Management of Delaware, Inc.
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