TULSA, Okla., Nov. 4, 2010 (GLOBE NEWSWIRE) -- Following its recent recapitalization and strategic refocus, Naturally Iowa, Inc. (Pink Sheets:NLIA) has changed its name to Totally Green, Inc. (the "Company"). The Company's new ticker symbol will be TLGN. The trading name change and the ticker symbol change will be effective November 4, 2010.
In connection with the recapitalization, the Company's management made the strategic decision to lease and ultimately sell the Company's dairy facilities and focus exclusively on its compostable PLA-bottling and ORCA Green Machine.
The Company also acquired the trademark and technology of Totally Green LLC, a privately-held manufacturer of industrial composting reactors based in Marietta Georgia, in August of 2010. These reactors – dubbed "ORCA Green Machines" – can compost the Company's PLA bottles, along with food waste (and other compostable waste) within 48 hours. Accordingly, the ORCA Green Machine and the Company's PLA bottles are natural complementary products for customers looking to adopt sustainable practices and reduce waste. The ORCA Green Machines are manufactured in Tulsa, Oklahoma.
William Horner retains a significant interest in the Company, and has remained as CEO and a member of the Company's Board of Directors. Rob Phillips serves as Chairman of the Board and has been appointed as the Company's President. Mr. Nate Baker serves as the Chief Operating Officer, and Ms. Sherril Harris has been appointed as National Sales Manager, and Ryan Casey serves as Vice President of the Orca division. Corporate headquarters have been relocated from Clarinda, Iowa, to Tulsa, Oklahoma.
THIS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS." FORWARD-LOOKING STATEMENTS ARE STATEMENTS CONCERNING PLANS, OBJECTIVES, ANTICIPATED SALES, REVENUES, GOALS, STRATEGIES, EXPECTATIONS, INTENTIONS, PROJECTIONS, DEVELOPMENTS, FUTURE EVENTS, OR PERFORMANCE UNDERLYING (EXPRESSED OR IMPLIED) ASSUMPTIONS AND OTHER STATEMENTS THAT ARE OTHER THAN HISTORICAL FACTS. THESE FORWARD-LOOKING STATEMENTS ARE ONLY PREDICTIONS. NO ASSURANCES CAN BE GIVEN THAT SUCH PREDICTIONS WILL PROVE CORRECT. ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN LIGHT OF THE CAUTIONARY STATEMENTS AND RISKS THAT INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH A SMALL COMPANY, UNCERTAINTIES ASSOCIATED WITH THE MARKETING OF THE CLOSED-LOOP COMPOSTING SYSTEM, THE RESPONSE OF OTHERS WHO MAY OFFER COMPETING ENVIRONMENTAL TREATMENT TECHNOLOGIES, THE COMPANY'S COMPARATIVELY LIMITED FINANCIAL RESOURCES, THE EXTENT TO WHICH MARKET TRENDS AND CONSUMER PREFERENCES MAY CONTINUE AND THE UNCERTAINTIES OF COMPETITIVE PRESSURE FACING THE COMPANY. THESE OR OTHER RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FUTURE RESULTS INDICATED OR IMPLIED IN SUCH FORWARD-LOOKING STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE SUCH STATEMENTS.