Humatech, Inc.

Company Profile
History of the Company

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The Company was incorporated in the State of Illinois on February 2, 1988 under the name of Midwest Enterprise Consultants, Inc. as a consulting and marketing service company (Midwest).

On April 6, 1997, the Company entered into an Agreement for the Sale of Assets whereby it acquired all of the assets and certain liabilities of International Humate Fertilizer Co. (a Nevada corporation) (IHFC), whose offices were, at that time, located in Mesa, Arizona.

On April 16, 1997, the Company issued 5,884,614 shares of common stock to International Humate Fertilizer Co. (IHFC), a Nevada corporation, to acquire 100.0% of the assets of IHFC. IHFC then distributed the 5,884,614 shares of the Company's stock to its stockholders. For accounting purposes, IHFC is the surviving entity and all assets and liabilities were acquired by the Company at the historical founder's cost of IHFC.

On May 5, 1997, Midwest filed a change of name with the State of Illinois to HumaTech, Inc. (Humatech) to reflect its continuance of the business operations of IHFC.

International Humate Fertilizer Co. (IHFC) is a Nevada corporation incorporated on February 21, 1996 under the laws of the State of Nevada. IHFC was capitalized with the transfer of certain assets and assumption of all outstanding liabilities of a Texas sole proprietorship of the same name, effective July 1, 1996. With the acquisition of IHFC, the Company became engaged in the development, manufacture and sale of carbon- based humate products for use in the commercial agriculture, animal feed and home horticulture markets. On July 23, 1997, HumaTech filed a request for clearance of quotations on the OTC Bulletin Board under SEC Rule 15c2-11, Subsection (a)(5) with NASD Regulation Inc. A Clearance Letter was issued to HumaTech on January 15, 1998 and the Company was issued its trading symbol "HUMT". In November 1998, the Company entered into a letter of intent for the purpose of establishing a joint venture to promote and sell the Company's products into the European Union of Countries. On November 12, 1998, the Company and its United Kingdom distributor formed a new entity, HumaTech, Ltd., of which the Company owns a 19.9% interest in this entity. The Company conducts business with Humatech, Ltd. under equal terms and conditions to those of domestic sales to unrelated third parties.