Auscrete Corporation Launches Update Amid Coronavirus Pandemic

GOLDENDALE, Wash., April 21, 2020 (GLOBE NEWSWIRE) -- As the state of Washington was legislating its shutdown of businesses statewide, Auscrete Corporation ASCK was on the cusp of the much-anticipated launch of their new manufacturing facility. All the new equipment they received has been installed and subjected to limited operations for trial purposes with the end product being Auscrete's proprietary hybrid cement construction panels tested to the highest level of quality and safety standards. As a matter of fact, when the legislation was being put into place, ASCK was in talks with two different media companies regarding an internet radio interview concerning the start of production.

The company has filed all the necessary paperwork for the Government's CARES Act Paycheck Protection Program, this will allow ASCK to maintain its cash reserves, while utilizing the Government funding to meet payroll during this time, as payroll has doubled in 12 months from 3 to 6 people.  ASCK's bank thinks the approval and funding could happen any day soon.

However, employees will look to work remotely from their respective homes. Especially, in continued talks with developers that have inquired regarding the ASCK products. As the current economic shutdown ends in the near future, the need for affordable housing will be greater than before the pandemic caused the shutdown.  This production downtime has given ASCK more time to discuss and negotiate with developers and contractors, so everything will be in place and ready to go for a smooth launch to fill orders.

According to a recent survey by the National Association of Home Builders, the average cost to build a timber home is $155-$160 per square foot.  When using the ASCK insulated hybrid panels, a developer can see that cost per square foot drop to the $110-$115 range.  And that is for a far superior product, one that is energy efficient, will last centuries, not just years and has probably the lowest maintenance cost per annum on the market today. The end product is not only fire-retardant, but one that is hypoallergenic, this characteristic of the ASCK product will probably also come more into focus as people move past the current pandemic.

While some will think back to the most recent debacle in the economy in 2008, that's human nature. ASCK management is quick to make the point that this time the economic slow-down looks to be short lived and there will not be a mass of foreclosures, with a glut of homes on the market.  Before this economic shutdown, there were not five million people with subprime mortgages that they could not really afford.

While there are a handful of housing bubbles out there across the nation, it is nothing like 2008.  Presently the prices in most local markets are in balance with local income, unlike before which precipitated the domino effect.

Before the pandemic of 2020 caused by the COVID-19 virus, which led to this shutdown, the economic outlook in the USA was firing on all cylinders. Better than it had in decades. This shutdown of the economy had no underlying financial linchpin to cause the disruption, it was caused by an aberration of a contagious virus.  Currently the USA workforce that was enjoying the benefits of that robust economy, are pent up feeling frustrated and looking forward to getting back into the workforce with full vigor. Management of ASCK confidently feels once the wheels start rolling again on the economy, it will be like opening the gates at Churchill Downs for the Kentucky Derby.

When the bugler plays and that gate opens, Auscrete Corporation (ASCK) is poised and in position for a great showing.

For more regular updates be sure to follow the Auscrete Blog at AuscreteBlog.com.

SAFE HARBOR

"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by their use of forward-looking terminology such as "may," "expect," "intend," "estimate," "anticipate," "believe" and "continue" (or the negative forms thereof) or similar terminology. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results or those implied by such forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results may differ materially from those contemplated by such forward-looking statements. Auscrete Corporation assumes no obligation and has no intention of updating these forward-looking statements, and it has no obligation to update or correct information prepared by third parties that is not paid for by Auscrete Corporation. Investors are encouraged to review Auscrete Corporation's public filings on SEC.gov and otcmarkets.com, including its unaudited and audited financial statements and its OTC markets filings, which contain general business information about the Company's operations, results of operations and risks associated with the Company and its operations.

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Investor Relations
Lee@auscretehomes.com
305-853-8404
www.auscretehomes.com