Mon, 23 Oct 2006 12:49:00 PDT
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 10/23/2006 -- Mr John Banks reports:
Consolidated Ecoprogress Technology Inc. (
With new funding, the company will begin to use new materials developed by Quartek that is expected to increase our gross profit from approximately 20% to approximately 40%. Presently, 8 containers a month are needed for the company to be cash neutral. At a 40% gross margin, approximately 4 containers a month are needed to be cash neutral.
Flushaway™ pads and liners are now carried in K-Mart in the US and Priceline in Australia. Product is also available in South Africa and the US Marines Corps worldwide.
Ecoprogress is diligently working on becoming a lead player in environmentally friendly, absorbent and plastic replacement products. Its first branded product, Flushaway™, provides women with the choice of a flushable feminine hygiene product.
ON BEHALF OF THE BOARD OF DIRECTORS
John Banks, CEO and President
Consolidated Ecoprogress Technology Inc.
Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the private securities litigation reform act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filings with the TSX-V and on SEDAR.
The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.
Contacts: Consolidated Ecoprogress Technology Inc. John Banks CEO and President (604) 738-7015 or Toll Free: 1-888-326-7764 (604) 738-7051 (FAX) Email: ir@flushaway.com Website: www.flushaway.com
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