Goldendale, Washington, March 19, 2018 (GLOBE NEWSWIRE) -- Auscrete Corporation (ASCK) had announced on February 28, 2018, that escrow was completed for the factory land purchase with the City of Goldendale, WA and the title was passed on to Auscrete Corporation. The land asset will show on the Corporation’s Balance Sheet in the Company’s first quarter filings of 2018.
The 5-acre parcel of land was purchased for $100,000 cash, which is roughly 50% below the original asking price and true market value. Upon completion of an appraisal during 2018 by an independent appraiser, the actual appraised value will be reflected on the Company’s Balance Sheet going forward for year 2018.
Auscrete Corporation (ASCK), with the assistance of the City’s Mayor, Mike Canon and City Administrator, Larry Bellamy, has located a City owned temporary office and building space to lease until the construction of the flagship facility and headquarters are operable. At the most recent city council meeting of Goldendale WA, the lease approval was presented to a vote, and was passed unanimously.
While serving as a temporary HQ, the space will also serve as a refurbishing station for production equipment currently owned by Auscrete Corporation (ASCK). The equipment was gifted to the Company from the previous private Corporation and, although it has a market valuation in excess of $800,000, and is now owned by ASCK, the equipment isn’t being carried on the Company’s Balance Sheet as SEC regulations restrict this since it was previously owned by a related private company controlled by ASCK CEO John Sprovieri. In essence it is an off the books asset which can’t be showcased, only used to produce product and revenues for ASCK. Its value is not even reflected in the current market cap price of ASCK. By refurbishing this equipment while the construction is ongoing, this will enable ASCK to hit the ground producing.
Auscrete Corporation (ASCK) is looking to file for permits upon completion of the designs for the new facility. These site plans, designs and buildings are specific for ASCK to produce its product. Typically building foundations will have to be heavier than normal foundations, with 2 to 3 times the normal amount of rebar for support. The foundation will have to safely support a 10-ton forklift, while it is carrying 8 – 10 tons of product. That equates to 40,000 pounds being maneuvered constantly in a relatively small wheel contact area for weight distribution. Then there is the height needed for suspended load capacity which must be met, so a lot more planning than some may think, is required in the designs before the application for the permits. The application must be done accurately the first time to avoid any delays and the management of ASCK is taking this into consideration.
All internal timelines are proceeding as ASCK has expected, although that is never fast enough for investors or the Management of ASCK.
On a recent development of note, ASCK has been contacted by a contractor and builder of correctional facilities, talks are still in the infancy stage. The company is considering the ASCK technology in the refurbishing of their correctional facilities throughout the USA. Currently that company oversees around 45 correctional sites. Should that company and ASCK reach an agreement on just 10 facilities to produce for a starting point, each facility will be roughly the equivalent of 10 houses to the ASCK bottom-line. Therefore, 10 facilities are equivalent to 100 homes, which is a year’s output of production, and this production could commence soon after the completion of the flagship facility in Goldendale WA.
Word is also out on the plan for the Goldendale facility as the company has been flooded with inquiries from people in the Northwest looking for both affordable and more up market residences. Some wanting them as far away as Arizona and California that are considered winter homes.
ASCK spokesman Lee Odom was quoted as saying, “This could really launch the commercial aspect for ASCK, apart from residential home production which so many investors are not yet aware of. A strong combination of both, will lead ASCK to better performance through all business cycles, thus continuing to enhance the shareholder values, which is always the ultimate goal of Auscrete Corporation.”
About Auscrete Corporation
Auscrete Corporation (OTC:ASCK) is a building products manufacturer and constructer of “GREEN” energy efficient housing and commercial structures built from Auscrete developed lightweight hybrid concrete/insulation wall and roof panels. Structures built of this medium have very low maintenance and, being concrete, are highly resistant to insects and mold. They have considerable mass and are highly resistant to hurricane forces and earth tremors. They will not catch fire and burn. Auscrete has established their Flagship Facility in Goldendale, WA.
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