Absolutely, however, the bottle should then say that it "neutralizes ammonia", not the harmful effects. The first statement is an accurate statement of what the product - reportedly - does, the second is a scare tactic.
im wanting to cycle my 135 gallon..... i've used filter squeezings from my established aquariums ALOT of squeezings... and now the water is clear.... and i've got 20 or so guppies swimming around in there.... its been a week and my ammonia is at like 0 or mabey just above ... can't really tell ... the test comes out too clear.... and my nitrites are 0 or around 0.... i'm wondering if its established ??... or if it takes longer than a week for any ammonia to rear its ugly head???