Interline Resources Corp. began trading on the NASDAQ (National Association of Securities Dealers Automated Quotations) exchange Friday.
Interline, an Alpine-based company, applied for NASDAQ trading status after its stock price exceeded exchange requirements in mid-October, said Larry McFarlane in a press release to the Deseret News. Since September, Interline stock has experienced a high level of investor interest, the release said.Stock quotations were available only on limited listings accessible to relatively few brokers before Friday.
Interline has a new process for re-refining used motor oil that may be the "cure for cancer with base oil," said president Michael Williams in an earlier interview with the Deseret News.
Interline uses a special solvent, invented by Salt Lake resident Craig R. Mellon, to clean used base oil. The solvent, which is recycled after each use, cleans water, impurities and additives from the oil, Williams said.
The new re-refining method produces no harmful by-products, Williams said. It is also economically sound. Interline can build a plant for as little as one-tenth the cost of a traditional re-refinery, the release said.
In addition to strong domestic interest from small independent collectors and processors of used oil, the company is responding to requests to establish a global market for its plants. The company is also negotiating with several major oil companies.