WASHINGTON, Feb. 21, 2006 (PRIMEZONE) -- Nuclear Solutions, Inc. (OTCBB:NSOLE) CEO, Patrick Herda, released the following statement today:
"Due to an inadvertent error associated with the automated interpretation of one of our SEC filings by the NASD (National Association of Securities dealers) computer system, the NASD mistakenly thought that we missed a quarterly filing. This is not the case; the company is current in the filing of required periodic reports. The appending of the "E" to our ticker symbol is an anomaly and is being reversed right now.
"The explanation seems to be as simple as the NASD computer system incorrectly determining our fiscal year end as March 31st, when in fact, our fiscal year ends on December 31st as is correctly reported in our filings with the SEC. Upon speaking with the NASD, they recognized the mistake, and they assured me that the symbol would be changed back to NSOL expeditiously."
Nuclear Solutions, Inc. is an innovative technology development company committed to exploring, developing, and commercializing viable products in the areas of nanotechnology, environmental technology, as well as homeland security and defense. Products under development include long-lived nuclear micro-power sources based on three U.S. patents (5,087,533; 6,118,204; 6,238,812) to power applications in the emerging field of nanotechnology and microelectronics; a patent-pending process to remediate tritiated water via an advanced separation technique; and a patent-pending shielded nuclear weapon and materials detection system. To learn more, explore www.nuclearsolutions.com. In August 2005, Nuclear Solutions, Inc. established Future Fuels, Inc., an independent subsidiary with its own unique business model to implement commercially available and proven technology to transform low-value, end-of-life carbonaceous waste materials such as waste coal, used tires, wood wastes, raw sewage, discarded corn stalks and other agricultural by-products, into high-value, environmentally-friendly, clean-burning ethanol. By transforming waste into ethanol, Future Fuels, Inc. is positioned to become a major player in the alternative fuels industry.
STANDARD DISCLAIMER
Some matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties such as our plans, objectives, expectations, and intentions. You can identify these forward-looking statements by our use of words such as "progress," "patent-pending," "is expected to be," "upcoming," "are at various stages," "we continue to follow," "urgent demand," "when completed," "could lead," "is developing," "committed to," "to implement," "is positioned to become," or other similar words or phrases. Some of these statements include discussions regarding our future business strategy and our ability to generate revenue, income and cash flow.
With regards to forward-looking statements on the proposed waste-to-ethanol facility, a facility like this has never before been constructed or operated and there are inherent risks associated with the establishment of such new operations. There could be unexpected problems or delays in the funding, construction and operation of the facility. There is no guarantee that we will be successful in raising the capital required for this project through the issuance of tax-free bonds discussed herein. While we believe that the appropriate technologies for waste-to-ethanol conversion are commercially available, we cannot guarantee that commercially available technologies will we suitable for producing ethanol in the proposed Future Fuels, Inc. facility.
Overall, actual future results for Nuclear Solutions, Inc., and its subsidiary, Future Fuels, Inc., could differ significantly from statements contained in the press release. Factors that could adversely affect actual results and performance include, among others, the companies' limited operating history, dependence on key management, financing requirements, technical difficulties commercializing any projects, government regulation, technological change, and competition. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Additionally, patent pending status or licensing does not guarantee that a patent will issue or that the technology will be commercially successful. Accordingly, reference should be made to Nuclear Solutions, Inc.'s periodic filings with the U.S. Securities and Exchange Commission, also available through the web site at www.nuclearsolutions.com.