PITTSBURGH, PA--(Marketwired - March 17, 2015) - Cardinal Resources, Inc.'s (CDNL), CEO Kevin Jones, has been invited to participate with the White House Business Council and Business Forward to discuss the President's export and international trade agenda with Senior White House officials including US Trade Ambassador Michael Froman and Under Secretary of State Catherine Novelli. Cardinal Resources brings a unique perspective to the discussion as a local company with a global presence having worked in over 30 countries and now selling our patented Red Bird System into key emerging markets in Sub-Saharan Africa, Latin American, and Asia.
Kevin Jones, CEO of Cardinal Resources said, "From our founding in 2004 the Company has generated the majority of our revenue from international trade including our services and now our sustainable water treatment systems. With over $30 million in international commercial contracts, good international trade policies and support of Export Import Bank financing, insurance and loan guarantees are needed to help us gain new sales in fiercely competitive global markets. One of the main objectives of my participation in this meeting and follow on meetings with Congressional delegates is to stress how critical reauthorization of the US Export Import Bank is to businesses of all sizes that are involved in international trade."
Beyond Cardinal Resources, robust international trade is one key to the US economy. US Exports, which reached $2.35 Trillion in 2014, supported a record 11.7 million jobs according the US Department of Commerce. Hand in hand with good international trade policies, is support of the US Export Import Bank's reauthorization. As stated by US Chamber of Commerce President and CEO Thomas J. Donohue in a Fox Business Op-Ed piece (February 24, 2015), "Not only does Ex-Im directly support American jobs, but it operates at no cost to U.S. taxpayers. The Bank charges fees for its services and follows rigorous accounting and risk management standards. As a result, Ex-Im's default rate has consistently been less than 2% over the past eight decades, a default rate lower than commercial banks."
"Failure to reauthorize Ex-Im would amount to unilateral disarmament in the face of other governments' far more aggressive export credit programs, which have provided 18 times more export credit assistance than Ex-Im did last year…The jobs of more than 160,000 employees at 3,300 companies depend on Ex-Im. If Ex-Im's charter is not renewed before it lapses on June 30, American companies would be put at a unique disadvantage in global markets, resulting in lost sales and jobs."
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Certain statements in this presentation constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs but they involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, such as business and political conditions in the geographic areas in which we sell our products, weather and natural disasters, changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which we are engaged.
The information set forth herein should be read in light of such risks. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this presentation and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
Cardinal Resources brings a unique blend of experience, technology, and focus to projects worldwide and across the United States from their office in the Pittsburgh, Pennsylvania area. Their commitment to Clean Water, Clean Environment, Worldwide includes the patented Red Bird System, a solar-powered community-sized drinking water system, and the Grey Bird Approach to wastewater treatment and green infrastructure as well as a depth of traditional environmental and engineering services. Visit our website at www.cardinalres.com.