KENNEWICK, Wash., March 6, 2007 (PRIME NEWSWIRE) -- Manakoa Corporation (OTCBB:MKOS) is pleased to announce that 2 million shares (2,000,000) have been cancelled outright as the result of two recent settlements. James C. Katzaroff, CEO of Manakoa, states, "I am most pleased to announce that the company has reached a settlement with Chris Outwater, the prior president, as well as a separate settlement agreement with a marketing consultant that has resulted in the cancellation of 2 million shares."
Furthermore, Katzaroff added, "Manakoa is fully engaged in the legal pursuit of Robert Williams, former CEO of Manakoa, and Mark Walla, former CTO, both currently of Enterprise Certified Corporation, for activities engaged during their tenure at Manakoa as well as since their departure."
About Manakoa Services Corporation
Manakoa is a development stage company with the mission to become a leader in global security technology products to detect and interdict criminal activity in counterfeiting, product diversion and intellectual property theft. Manakoa seeks to market a variety of technologies that it owns, licenses or resells, providing a technology menu that addresses a wide range of needs in the marketplace. For more information about Manakoa Services Corporation, please visit its website at www.manakoa.com
Forward-Looking Statements
Except for historical information contained herein, the matters set forth in this press release, such as statements relating to the company's ability to drive technological developments and the acceptance and timing of product introductions, are forward-looking statements that are subject to risks and uncertainties, including timely development and acceptance of new products, the impact of competitive products and pricing, the timely development and release of products by suppliers, and other risks detailed in the company's periodic filings with the SEC.