SUGAR LAND, Texas, July 8 -- Exousia Advanced Materials, Inc. (OTC Bulletin Board: EXOU), a manufacturer of advanced industrial coatings for worldwide infrastructure applications and engineered composites for eco-friendly wood substitutes, announces that the company's wholly owned foreign entity (WOFE), Tianjin Exousia Advanced Materials Company Ltd., expects to be cash flow positive in China by the end of July, 2009.
'Based on the cumulative effect of the additional orders from China United Engineering Corporation, as recently announced, and predicated upon servicing the pending orders for our PowerShield brand coatings from Bohai Shipbuilding and other China based customers, we expect that Exousia will be cash flow positive in China by the end of this month,' explained Mr. Bob Roddie, Exousia's Senior Vice President and CFO
'We have kept operating costs low while building a solid infrastructure for significant growth. Keeping our overhead under control while securing business relationships with these major Chinese companies has allowed us to achieve this milestone quickly,' continued Mr. Roddie. 'We are excited to see our efforts materialize in a substantive way.'
'While it has taken a little longer than we originally planned, we have successfully navigated the company towards increasing revenues that will result in our achieving a positive cash flow from China operations in the very near future,' stated Exousia CEO, J. Wayne Rodrigue.
About Exousia Advanced Materials, Inc.
Exousia manufactures advanced resins, engineered particles, high-performance coatings and structural products. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial and construction applications. The Company serves both domestic and international markets. Additional information on Exousia can be found at http://www.exousiacorp.com.
FORWARD-LOOKING STATEMENTS
Statements released by Exousia Advanced Materials, Inc. that are not purely historical are forward-looking within the meaning of the 'Safe Harbor' provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
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SOURCE Exousia Advanced Materials, Inc.
