RS TECHNOLOGIES PROVIDES OPERATIONAL UPDATE

About this update from Real Estate Split Corp Class A

[{"type":"text","content":"\n\n\n\n Dec. 23, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nCALGARY, Dec. 23 /CNW/ - RS Technologies Inc. ("RS" or the "Company") (RS - TSX), a technology innovator and manufacturer of advanced\n composite products for infrastructure markets, today, further to its\n news release dated November 1, 2010, provided the following operational\n update.\n\n\nStatus of Working Capital\n\n\nRS anticipates that it has sufficient working capital to continue as a\n going concern until the middle of January 2011. In order to continue as\n a going concern, and not taking into account any funds generated\n through sales of existing inventory, RS anticipates that it will be\n required, during the first quarter of 2011, to secure funds of\n approximately $1.0 million per month for its working capital needs and\n utilize the proceeds as to approximately $400,000 to fund ongoing\n corporate overhead, $400,000 to enable RS to continue its ability to\n manufacture RStandard® modular utility poles, and $200,000 to enable RS\n to complete manufacturing equipment and process improvements at RS's\n Tilbury, Ontario manufacturing facility in order to reduce costs of\n manufacturing.  Management of RS is currently in the process of\n pursuing further cost reduction strategies in order to continue\n operations. In the event that RS is unable to secure additional funds\n for its working capital needs, it will be unable to continue as a going\n concern beyond the middle o...

More updates from Real Estate Split Corp Class A