Imagin Molecular files request to change name to The Planet Bottle Corp. with SEC, says new name more accurately describes company's main focus of oxo-biodegradable PET plastic bottles
July 23, 2010
– Imagin Molecular Corporation (IMGM 0.05, 0.00, 0.00%) has filed a Definitive Information Statement on Schedule 14C with the Securities and Exchange Commission requesting a name change to "The Planet Bottle Corporation" ("TPBC"). The TPBC name more accurately describes the main focus of the company. TPBC, through its subsidiary Planet Green Bottle Corporation of Canada, has acquired the global rights to develop the market for a masterbatch additive which renders a PET (polyethylene terephthalate) plastic bottle oxo-biodegradable -- that is accelerates the degradation of a bottle towards CO2 and humus over an estimated period of 15 to 20 years versus estimates of up to 1,000 years for untreated ordinary PET plastic bottles. There are up to 400 billion PET plastic bottles produced annually on a global basis. TPBC promotes recycling first. However, the last published statistics of APR (Association of Post-Consumer Plastic Recyclers) estimates that in 2008 73% of all PET plastic bottles in the United States go to landfill or into the environment. In Europe, PETCORE (PET Containers Recycling Europe) reports that the number of PET plastic bottles discarded in 2009 to landfill or the environment was 52%. The oxo-biodegration process is based on established science with extensive research behind it. Plastic articles are treated with oxo-biodegradable additives and the degradation process results. TPBC additive was developed by Wells Plastics of the UK, a specialist plastic additive company of over 26 years under an agreement with Planet Green.
Patrick Rooney, Chairman of TPBC, stated, "Our business in the area of oxo-biodegradable PET plastic bottles is beginning to make serious impact. We are working with APR to get them enough information to understand that we fully support recycling and that our oxo-biodegradable additive is an insurance policy for those plastic bottles that go to landfill or into the environment. PET plastic was invented 37 years ago. All of the PET plastic could still be here in the environment over 950 years from today. The consumer wants biodegradable plastic. We believe only oxo-biodegradable technology works for PET plastic bottles. TPBC we intends to give the consumer what they want.
"It is important that the USA recyclers support the development of oxo-biodegradable technology in that mining, forestry, farming and petroleum camps away from recyclers throw plastic bottles into the environment out of necessity. This is even more true as it relates to the military in Iraq and Afghanistan.
"Ten truckloads of water bottled in PET plastic treated with Reverte(TM) and therefore oxo-biodegradable were shipped by a supplier of Canadian bottled water to the G-8 and G-20 in Toronto in June, 2010. Obama and Sarkozy have both drunk water from our oxo-biodegradable PET plastic bottle during the G-8."
About Planet Green Bottle Corporation
Planet Green Bottle Corporation ("PGBC") initiated with Wells Plastics Ltd. of the UK, the development of a masterbatch additive which causes a PET plastic bottle to become oxo-biodegradable in the environment. The Planet Green concept is to promote its "The PLANET BOTTLE" logo as a brand enhancer wherein the consumer will search for "The PLANET BOTTLE" logo on a brand owner's label as a sign that the plastic bottles and packaging are eco-friendly and will oxo-biodegrade over 15-20 years as opposed to perhaps over 1,000 years for non-treated PET plastic. Planet Green markets its product to brand owners globally. Planet Green is also working with governmental agencies around the world in order to influence legislation mandating that all plastics be treated with oxo-biodegradable additives as a step toward curtailing the pollution of the Planet with Plastic. IMGM acquired the proprietary position and intellectual property of PGBC of Canada in exchange for giving up a 49% interest in its corporate venture to be also called PGBC, a Delaware-incorporated subsidiary.
About Imagin Molecular Corporation:
Imagin Molecular Corporation (IMGM) is a company dedicated to socially responsible issues. IMGM main areas of interest are focused on medical and environmental. IMGM, through its subsidiary Positron Cardiac CARE Clinics ("PCCC"), is planning to open Cardiac Disease Reversal Clinics across Canada and after initial success across the USA and globally. IMGM, through a newly to-be-formed 51% owned subsidiary The Planet Green Bottle Corporation, has developed and is introducing globally through a subsidiary, the world's first and only oxo-biodegradable PET (polyethylene terephthalate) plastic bottle. The Planet Green oxo-biodegradable technology was developed by Wells Plastics Ltd of the UK and is proprietary with patent pending trademarked by Wells as Reverte. Imagin Molecular Corporation strategy and focus in its medical segment is dedicated to capitalizing on opportunities in positron emission tomography (PET) directed toward the diagnosis of cancer, heart disease and neurological diseases. PET is an advanced medical diagnostic imaging procedure used by physicians in the detection of certain cancers, coronary disease and neurological disorders including Alzheimer's disease. Imagin Molecular Corporation has a large strategic equity block position in Positron Corporation. The Positron technology is considered to be the gold standard for cardiac disease diagnosis.