Itronics Inc (ITRO): part #2 overview for ITRO. ITRO...

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Thursday, 08/11/2005 12:36:22 PM

Thursday, August 11, 2005 12:36:22 PM

part #2 overview for ITRO.

ITRO

After ten years of research, more than $20 million spent in R&D, and five years of highly successful field testing, ITROnics Inc. (OTC BB: ITRO) -- www.ITROnics.com -- is about to break out of its development-stage ranking to become a potentially powerful force in the $6 billion/year commercial fertilizer market.
ITROnics is the world’s only fully integrated photochemical recycling company, providing waste collection services and using its proprietary technology to convert that waste into liquid fertilizers and bullion silver.
“When we started this, we didn’t have any idea what we were getting into,” says ITROnics President Dr. John Whitney, acknowledging that it has taken more time than originally anticipated for the company’s proprietary line of Gold’n Gro™ liquid fertilizers to be accepted and sold commercially in any significant quantities.
Since Gold’n Gro™ was first introduced in 1999, ITROnics has proven the fertilizer works exceedingly well. But it has taken up to three years of intensive field testing per product per crop to accumulate the scientific data needed for a successful commercial release.
During this time period:
• The company formed its Gold’n Gro™ sales division.
• Photochemical waste sources were identified to operate the recycling plant at full capacity.
• Highly successful field testing was completed for such large acreage crops as tomatoes, wine grapes, silage corn, alfalfa and cotton.
• The company posted its first gross profit in Q2 2003, and sharply increased fertilizer and silver sales in 2004.
ITROnics now has a broad line of proven fertilizer products targeted to different sectors of the agricultural and horticultural industries.
All improve the ability of crops and plants to absorb nutrients, as well as increasing crop size and yields.
Reclamation Technology Yields Silver Bullion and Superior Fertilizer

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ITROnics provides sorely needed solutions to a variety of global problems – reduction of silver-bearing photochemicals discharged to sewer; a secondary source of pure silver; recycling of toxic photochemical wastes; and highly effective Gold’n Gro fertilizer products that increase nutrient uptake while increasing acreage yields and crop nutrition levels.
Millions of ounces of silver are used every year in the production of photographic prints and X-ray films. The growth of digital cameras has actually amplified the use of silver as Internet-based firms convert digital photos into standard photo prints. The yearly result is the production of 100 million gallons of silver-bearing, toxic photobyproducts.
ITROnics provides an environmentally-friendly alternative to dumping these toxic chemicals down the sewers or storing at toxic collection sites.
The company picks up the liquid photochemicals from waste generators such as hospitals, X-ray laboratories, and photographic developers. ITROnics’ special distillation equipment reduces the volume of photowaste by 90%. Recovered silver is converted into bullion and the company’s unique 99.9% pure, five-troy ounce limited edition Silver Nevada Miner bar sold on the company web site.
The demetallized photochemical liquids are converted into its Gold’n Gro™ fertilizer products. These products are completely free of hazardous heavy metals and meet environmental regulations.

Gold’n Gro™ Achieves Academic and Commercial Recognition

The effectiveness of ITROnics’ Gold’n Gro™ is recognized by leading academic researchers and has attracted the support of the West’s top liquid fertilizer distributors. Gold’n Gro™ was given top ranking for two consecutive years in a comparative turf-nutrition program at the University of California Riverside. Western Farm, a subsidiary of NYSE-traded Agrium, has a contract to distribute ITROnics’ products in its stores in five western states.
At present, the primary markets for Gold’n Gro™ products are citrus, tomatoes, lettuce, leafy green vegetables, wine and table grapes, cotton, pistachio, almond and black walnut growers.
Additional crop applications may soon be added to the Gold’n Gro™ product list. More than a dozen successful field trials conducted in California, Idaho, Oregon and Washington this year showed the effectiveness of Gold’n Gro™ on a variety of crops, including winter oats, alfalfa and silage corn.
Gold’n Gro™ increased the size of the silage corn stalks by about one-third which would boost per acre production by 30%. “The corn went from 8 to 9 foot stalks to 11 to 12 foot stalks. Gold’n Gro™ is amazing fertilizer,” says Dr. Whitney.
When used on alfalfa fields, Gold’n Gro™ dramatically increased the nutritional content virtually off the scale, and hiked per acre hay production by 25%.
“Just these two Gold’n Gro™ applications are enough to make the company,” says Dr. Whitney, adding that alfalfa field testing is “coming along real well” and testing on silage corn will be expanded next year. Following this testing, Gold’n Gro™ products developed specifically for alfalfa and silage corn will be marketed commercially to growers.
In addition, fertilizer products specifically suited for distribution to the northwest’s agricultural industry are now in development and could be ready for full commercial use in the next two years. Future testing will target mid-west and eastern growers.

Investment Considerations

Dr. John Whitney, ITROnics’ president, also heads Whitney & Whitney, a mining industry consulting firm. He co-invented a silver recovery and refining process, and holds degrees in mineral economics, mineralogy and geology from Penn State and the University of Nebraska. In 2000, Dr. Whitney was named Nevada’s Inventor of the Year.
Dr. Whitney founded ITROnics in response to Nevada’s request to study photochemical silver contamination in the state’s rivers. His findings – and the expenditure of about $20 million over more than a decade – led to the development of ITROnics’ proprietary technology to remove silver and other heavy metals held in photochemical liquids.
The remaining demetallized liquid proved ideal for use as a fertilizer – and an entree into the mature, but steadily expanding agricultural sector. Through its new e-commerce web site, ITROnics is also targeting the growing $1 billion annual urban market which includes golf courses as well as homeowners. The total fertilizer market is about $6 billion a year.
The company’s goal is to become a multi-billion dollar corporation in control of unique and proprietary technologies and superior products that present significant market hurdles for competitors.
And although it will still take more time before ITROnics is well established commercially, the company has made significant progress and appears poised for more substantial growth.
In 2003, the company posted gross profits for the first time, and during the first half of 2004 receipts of silver waste products and shipment of Gold’n Gro™ to the company’s distributor were in virtual balance.
“This shows that our business model works. If we get the sales, we will show profits,” says Dr. Whitney.
Fertilizer sales drop off naturally in summer and fall, but the company still posted year-over-year growth at the end of the third quarter. Dr. Whitney expects receipts and shipments to remain in balance for all of 2005.
Dr. Whitney says that planned incremental capital expenditures will be made to facilitate continued expansion. Incremental expansion allows ITROnics to produce its increasingly diversified product line more efficiently, putting the company on track to achieve “positive cash flow” in 2005 and “solid profitability” by 2006.
“It’s hard for people to understand why the testing process takes so long or why we can’t sell product faster. But the fertilizer people are very impressed with Gold’n Gro™ and they know the business,” says Dr. Whitney, stressing that ITROnics presents a “ground floor opportunity” for patient investors willing to accept short-term risk for the potential for solid long-term growth. Says Dr. Whitney: “This is good investment with a strong possibility of share price growth.”
Jay Taylor, editor of Gold & Technology Stocks, has been impatient with ITROnics’ slow sales growth, but said recently that the company’s “very impressive” recent test data has led him to conclude “there are potentially some very large crop applications that could finally drive this company’s sales to much, much higher levels.”

Visit the ITROnics Inc. Web Site for more information>> http://www.ITROnics.com

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