quit paying . The bank foreclosed, then took on the liability, not knowing what it had . Then they just deeded it over to us. They didn't want this type of liability sitting on their books." In another case, he says, "We had a 39-gas-station deal in the Midwest worth about $150 million, but because the sites were contaminated we took over the business for $50 million. Each station had a huge cleanup. But we applied to the state for funds and were fully compensated for our cleanup by the government."
. . CONNECT
GDERINC
GDER:PINK CONNECT
Global Development and Environmental Resources 205 E. Warm Spring Rd, Suite 1OS Las Vegas, NV 89123 www.gderinc.com
Dante Panella, Public Relations 727-204-4627 dpanella@firstcapitalinvestors.com
Key Patents
GOER has four key patents dealing with its cleanup p rocess : one for road stabilization, man-made lakes -ponds and erosion (infrastructure arm), one for soil and groundwater cleanup, one for dust control, one for hazardous waste chemicals and
savings of between 50 percent and 60 percent over the more traditional asphalt method, GOER already has approval from the Department of Transportation in many states and $10 million in work despite having introduced the product only recently.
PCB (polychlorinated biphenyls) contamination . PCBs are a major contaminate from transformers or from manufacturers using the substance t o clean their tools. "Up until now, there hasn't been a very good method to treat the groundwater," explains Pritchard . "We are in the process of introducing a product that will clean this. That patent is being used presently now on several pilot studies ." No Competition
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Construction of a man-made retention pond utilizing enzyme technology.
one for commerc ial degreasers. "When we acquire a property, we have special patented technology that we use. Typically, a cleanup company lifts up the soil and hauls it off to a landfill. We never haul away the dirt. We never interrupt the business, which for a gas station is particularly important," says Pritchard. GOER's road cleanup is particularly interesting, as it includes a technology that allows the company to help build rural roads using biological enzymes, bypassing the need to use concrete and asphalt. "The mi xture we have, we mi x into the natural soils and the soils bind with the product and turns into concrete," says Pritchard . At a cost www. vrexpo .net
This technology may have even more uses in the future, as GOER has recently been approached by a golf course to use the technology to build its lakes. "Typically a liner is used, but with this technology we open up the ground, spray the enzymes around and we have our base." The golf course operator has also asked the company to use the technology to make its golf paths. Even more importantly it should be acknowledged that many courses have effluent (tainted) water. Using GOER's enzymes also cleans the tainted water coming into the ponds. GOER has a fifth patent on the way that will allow it to work on
GOER, which is three years old and has 15 employees, currently ha s $64 million in contracts. This does not include another 38 percent growth anticipated by the end of the year through letters of intent it has on hand. It is anticipating continued strong revenue growth for the foreseeable future. About half of GOER's revenues are from state governments and about half from businesses. In the future, says Pritchard, the company will receive more revenues directly from businesses as fewer sites are abandoned and left on the doorstep of local governments. GOER views international business as an area of strong potential growth. It is only at 10 percent right now, says Pritchard, because the company has just begun focusing on this market. As an example, he points to Shanghai, where GOER currently has a letter of intent to participate in rural development. "I have never seen one city grow so fast," he says. In the meantime, GOER is fresh from its IPO, and Pritchard sees enormous upside in his business. "There is nobody else out there like us. We have no competition:' R FALL 2005 VA~UERICH MAGAZINE 197