PORT RICHEY, Fla., Feb. 10 - MobileStream, Inc. (OTC Pink Sheets: MBSM) has announced that the company has entered into an agreement to acquire PSO Enterprises, Inc. ("PSO").
PSO is an offshoot of Carbon Recovery Systems, Inc. (CRC), a New Jersey- based company founded in 2002 by serial inventor Frank Pringle. CRC has succeeded, through experimentation, to uncover the proper microwave technologies to heat and gasify various materials. This system has applications in solid waste for tires and plastics. The technology takes these materials back to their original components generating usable oil and other marketable components. There has been additional experimentation that has resulted in favorable outcomes in the petrochemical field for tar sands, oil shale, resid oil, oil drill cuttings and marginal wells. The commercialization of this technology has wide-ranging implications for the United States and the global petroleum market. These items are gasified and can be converted back into usable products ranging from gasoline to kerosene depending upon the subject material.
"This is a great next step in the evolution of our company," remarked MobileStream Vice President Jeff Stanton. "PSO is a perfect fit within our business model and we look forward to continuing at the cutting edge of new technologies in oil exploration and processing."
The Company
MobileStream is an oil and natural gas exploration company focused on using technology to maximize the output of under-utilized and non-producing wells in order to squeeze every last ounce of production for our ever scarcer key resources. Increasing prices continue to make original and less conventional methods for extracting oil more cost effective, and while MobileStream is relatively small as compared to some of the larger players in the industry, our size is our advantage as we feel we can more quickly and effectively capitalize on opportunities that fall below the radar screen or some of our larger competitors.
This news release contains forward-looking statements regarding MobileStream's business strategies and future plans of operations. Forward- looking statements involve known and unknown risks and uncertainties. The company's risks and uncertainties include: intense price competition, economic, political and regulatory uncertainties, the need to raise additional capital for growth and expansion and its reliance on the internet as a means for promoting the software it sublicenses. The forward-looking statements contained in this news release speak only as of the date hereof and MobileStream disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in MobileStream's expectations or future events.
