N-Viro International Repays Promissory Note
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TOLEDO, Ohio, Oct. 30 /PRNewswire-FirstCall/ -- N-Viro International
Corporation (OTC Bulletin Board: NVIC.OB), is pleased to report that it has
remitted payment for its 10-year promissory note for the balance of the
acquisition of N-Viro's Florida operations, acquired December 28, 2006.
The Promissory Note was originally entered into December 2006 when the Company
acquired Florida N-Viro, LP. The repayment of this Note frees N-Viro to
modify its current agreements with key vendors and to permit N-Viro to pursue
new opportunities to obtain materials utilized in its operations.
"We are pleased to be in a position to repay the Note early," said Mr. Timothy
Kasmoch, President and CEO of N-Viro International Corporation. "This action
should in time improve our balance sheet and strengthen our financial
position."
About N-Viro International (www.nviro.com)
N-Viro International is an environmental and materials operating company that
owns patented technologies to convert various types of waste into beneficial
alternative fuel products, including the renewable biofuel N-Viro Fuel(TM) and
the N-Viro Soil(TM). Its renewable biofuel technology, N-Viro Fuel(TM), has
received alternative energy status from the U.S. Environmental Protection
Agency, which qualifies the technology for renewable energy incentives.
N-Viro International operates processing facilities independently as well as
in partnership with municipalities.
Special Cautionary Note Regarding Forward-Looking Statements
The Company cautions that words used in this document such as "expects,"
"anticipates," "believes" and "may," as well as similar words and expressions
used herein, identify and refer to statements describing events that may or
may not occur in the future. These forward-looking statements and the matters
to which they refer are subject to considerable uncertainty that may cause
actual results to differ materially from those described herein. For example,
while the Company expects business expansion projects to begin in an estimated
time frame, such expectations are subject to adverse economic conditions and
other factors outside of the Company's control. Further, the Company's
ability to increase capabilities and expand capacity is subject to the ability
of the Company or its partners to access sufficient capital to pay for this
expansion, which will further depend on, among other factors, market
acceptance. The Company's ability to achieve profitability of these projects
could be negatively impacted if there is a lack of an adequate supply of waste
or expenses increase above the Company's expectations - including fuel and
transportation costs, labor costs and costs relating to the treatment and
processing of the biosolids and creation of the N-Viro Soil or N-Viro Fuel.
In addition, while the Company believes that trends in "greener" energy
solutions are moving in favor of the Company's technology, such trends may not
continue or may never result in increased sales or profits to the Company
because of the availability of competing products and other alternative energy
source. All of these factors, and other factors, will affect the
profitability of the Company. Additional information about these and other
factors that may adversely affect these forward-looking statements are
contained in the Company's reports, including its Annual Report on Form 10-K
for the year ended December 31, 2008 and other filings with the Securities and
Exchange Commission. The Company assumes no obligation to update
forward-looking statements to reflect actual results, changes in assumptions
or changes in other factors affecting forward-looking information except to
the extent required by applicable securities laws.
For More Information Contact:
Timothy Kasmoch, CEO
info@nviro.com (419) 535-6374
SOURCE N-Viro International Corporation
Timothy Kasmoch, CEO, +1-419-535-6374, info@nviro.com
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