BIOREM Inc. reported earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported revenues were CAD 4,386,000 compared to CAD 3,448,000 in the same period in the prior year representing an increase of CAD 939,000 (27.2%). Ebitda was CAD 660,000 compared to a negative ebitda of CAD 1,004,000 for the fourth quarter of 2011. Net earnings were CAD 316,000 or CAD 0.02 per basic share and CAD 0.01 on a diluted basis compared to loss of CAD 1,196,000 or 0.11 per share on a basic and diluted basis a year ago. For the twelve months ended December 31, 2012, the company reported revenue increased 28% to CAD 15,418,000 from CAD 12,045,000 for the same period in 2011. Net loss was CAD 830,000 or a loss of CAD 0.07 per basic and diluted share compared to net loss of CAD 3,369,000 or a loss of CAD 0.28 per basic and diluted share in 2011. Net cash used by operating activities was CAD 530,000 compared to CAD 1,558,000 generated by operating activities in 2011. Ebitda was CAD 93,000 against negative ebitda of CAD 2,367,000 a year ago.

BIOREM Inc. filed its Annual on Apr 22, 2013 for the period ending Dec 31, 2012. In this report its auditor, KPMG LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Corodex Industries Co. L.L.C. along with its partner, Biorem Inc. of Canada, has revealed the successful installation of a Biological Odor Control Unit (Model BTF-3000) located in DS-191 lifting station in Dubai International City. The newly installed model highlights the use of innovative bio-friendly technology that seeks to remove harmful contaminants in air streams via the use of sulfur-oxidizing bacteria and other types of friendly bacteria. The DS-191 unit is powered by OCU technology that can eliminate odorous air coming from sources such as wastewater treatment plants, pumping stations and lifting stations. Odorous air contains harmful compounds like Hydrogen Sulfide (H2S), Volatile Organic Compounds (VOCs) and Hazardous Air Pollutants (HAPs), which can be detrimental not only to human health but also to its ecosystem. It requires zero use of chemicals commonly being added to chemical scrubbers, which eliminates the harmful effect of chemical disposal to the environment; its associated safety risks and lastly, it greatly reduces the plant’s operational and maintenance costs. The installed OCU model consists of a double stage of biological scrubber with demister bed, makeup water system and softener. It has a 2,750 cubic meter per hour capacity and robust to treat up to 250 ppmv of H2S. Based on its initial two-week performance results, the model has demonstrated H2S removal efficiency of 99.9% and has undoubtedly proven to be very effective and successful.