R-Three Technologies (OTC: RRRT) shares are down more than 80% mid-morning after the company announced the temporary suspension of its operations. The suspension is pending funding, in either debt or equity financing, to implement the company’s business plan. The business plan is to produce a variety of products, such as interlocking asphalt bricks, using recycled asphalt shingles. “The company is attempting to secure a minimum of $200,000 in debt or equity financing. If we secure such level of funding, the Company will be in a position to continue to lay the foundation to implement our business plan. An additional $800,000 will be required to fully implement the business plan and establish operations. While we believe that this $1 million capital infusion will support our operations for the next year, a rollout of our products throughout Canada and the United States will require an additional $1 million in capital investment,” president and CEO Stan Kolaric stated in the news release.
To view the full press release, visit: http://nnw.fm/9ORtl
About R Three Technologies
R Three Technologies desires to help alleviate the global environmental crisis in waste management in a unique, proprietary way. By pursuing this goal and adhering to its business plan, the management believes the company can provide financial benefits to its shareholders, venture partners, employees and the communities in which it operates. For more information about the company, visit www.r3tinc.com.
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