HOUSTON, May 31, 2005 (PRIMEZONE) -- Power Technology, Inc. (OTCBB:PWTCE) announced today that the company's 10K has been filed and expects to have the "E" removed this week. Bernard J. Walter, chairman and CEO of Power Technology stated, "Rigorous accounting requirements and confirmations needed from European residents contributed significantly to the delays in filing our annual report. We are happy to report that we are now current in our filings and ready to continue our focus on the commercialization of our battery technologies."
About Power Technology, Inc.
Power Technology, Inc. is a research and development company that is engaged in activities regarding alternative battery technology using patent pending carbon materials with up to 50% less weight and significantly less lead content than conventional batteries. The company is in the early stages of commercializing its battery technology and intends to introduce its batteries for sale in 2005.
All statements included in this press release, other than statements of historical fact, are forward-looking statements. Although management believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Important factors could cause actual results to differ materially from the expectations that are disclosed in this press release. While Power Technology, Inc. believes its forecasting assumptions are reasonable, there are factors that are hard to predict and influenced by economic and other conditions that are beyond Power Technology, Inc.'s control. Among the other important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in Power Technology, Inc.'s filings with the Securities and Exchange Commission.