Wal-Mart To Offer EarthShell Products Nationwide

After a successful regional offering of EarthShell's environmentally friendly, disposable food containers, retail giant Wal-Mart says it will begin selling EarthShell disposable plates and bowls in about 1,200 stores nationwide beginning 1Q03, according to a Dec. 2 Dow Jones Business News article. ERTH shares, which closed at $.60 on Nov. 29 jumped to $.76 at market's close on Dec. 2.

Earlier this year, 90 Wal-Mart stores in the northwestern U.S. began carrying EarthShell products via an agreement with EarthShell manufacturing partner Sweetheart Cup Company Inc. The Wal-Mart expansion corresponds to additional manufacturing capacity that EarthShell anticipates from Sweetheart and its other manufacturing partners early next year.

Separately, Nasdaq sent a Staff Determination to ERTH because its common stock price is not in compliance with the market's $1.00 minimum bid requirement and its stockholders' equity of $9.58 million is below the $10 million minimum, according to a Nov. 26 announcement. In response, ERTH has requested a hearing with the Nasdaq Listing Qualifications Panel. If the panel doesn't accept ERTH's compliance plan, its shares will likely move to the SmallCap Market.

“The change in listing will have no impact on the company's operations or on our confidence in our ability to deliver on the business model. Our products have been embraced by all who have used them, and we have made great strides in recent months in our efforts to commercialize the technology. There is no question that demand remains for packaging products such as ours, that are comparable in effectiveness, quality and cost and offers environmental benefits as well,” says Vincent Truant, COO and president.