New York, NY -- (ReleaseWire) -- 04/18/2013 --Cereplast, Inc. (OTC:CERP) announced preliminary revenue for the first quarter ended March 31, 2013. Cereplast expects to report 2013 first quarter revenue of approximately $900,000 to $1 million, exceeding total revenue for the entire 2012 fiscal year.
According to management, approximately 65% of this revenue was generated in Italy due to the demand created by the recently published Application Decree, which requires merchants to discontinue the use of traditional single-use plastic bags in favor of bioplastic bags or other alternatives.
Sanctions for non-compliance will be enforced beginning the end of May 2013 and management estimates that as a result, the Company will experience an increase in demand for its Cereplast Compostables(R) blown film resins during the second half of 2013 as merchants are forced to transition to bioplastic alternatives.
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Goff Corporation's (OTC:GOFF) wholly owned subsidiary Golden Glory Resources S.A. reported that the Company is planning to double the size of its anticipated 5,000-meter drill program on its La Frontera Gold Project in Department of Caldas, Colombia. The Company now plans to undertake an aggregate 10,000-meter drilling program in order to pursue further gold/silver targets on the leases.
Company President Warwick Calasse states, "We planned to begin a 5,000-meter diamond drilling program on the La Frontera Gold Project within 90 days. The additional data we are receiving is expanding our understanding of the scale and structure at La Frontera.”
The company is engaged in gold exploration with a view to developing highly prospective gold projects.
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