Business News

ECO2 Plastics, Inc. Reports Second Quarter Financial Results

Thursday 20. August 2009 - ECO2 Plastics, Inc., (BULLETIN BOARD: EOPI) , the eco-friendly recycling company that is changing the way plastics are recycled, today reported its 2009 second quarter financial results in a Form 10-Q filing.

The Company reported the following results:

— Revenues of $1.1 million for the quarter were achieved versus $1.4
million during the same period in 2008.
— Revenues for the six months ended June 30th were $1.6 million in 2009
versus $2.9 in 2008.

— Net losses from operations were $1.8 million for the quarter versus
$3.0 million during the same period in the prior year, and net losses
were $4.1 million for six months ended June 30th versus $6.3 million
for the prior year.




During the quarter, the Company filed a preliminary 14C and 13E3 with the SEC to conduct a reverse stock split. The filing is under review with the SEC and a definitive 14C will be filed following their comments.

Rod Rougelot, CEO of ECO2 Plastics stated: “Although operations continue to improve, we are constrained by the weakness in our balance sheet. Our continued focus must be on raising additional funds to strengthen our balance sheet and deliver positive cash flow from operations.”