Revenues for the three months ended December 31, 2002 were $3,495,785 consisting of $3,297,175 from non-hazardous vacuum services and $198,610 from the rental, sale and servicing of the Company's waste compactors and ORRS
NCS will gain significant competitive advantage in both the vacuum truck services and organic waste recycling industries when the Process is combined with the proprietary ORRS
program; the proprietary route-optimization and information management software and the unique wastewater decant processing technology, once the purchase transactions are completed.
When NCS completes the pending acquisitions announced in September 20, 1999, it establishes a new business line combination of vacuum truck based collection services, with the ORRS technology and IBR's proprietary technology that efficiently converts biodegradable waste into valuable end products.
NCS and ORTI International, the holder of the US patents for the ORRS machines and the land application process, are very close to reaching final agreement with regard to the purchase of the right to use these patents in the rest of the world.
The above acquisitions will give NCS a superior position in the collection and recycling of non-hazardous organic waste due to (a) its patented processes, (b) state-of the art, web-based truck service routing and scheduling software, (c) its new critical mass, and (d) NCS's recently signed exclusive ORRS marketing agreement with Canadian Waste Services.
NCS has grown to be the largest distributor of recycling, waste handling and compacting equipment and systems in Canada and continues to see strong growth in this area (a) by renting the ORRS units which are being marketed by Canadian Waste Services and (b) by acquiring additional compactor fleets.
NCS has been working with ORMI, ORTI and ORTI International for the past two years developing, testing, and marketing the proven ORRS system.
The ORRS system has significant operational benefits to its users and environmental benefits to the community: the processed organic waste can be used as a soil conditioner/amendment instead of having to be landfilled, composted or disposed of in municipal sewers.
CWS and NCS believe that ORRS has enormous commercial potential.