CHICAGO, Aug. 3, 2010 (GLOBE NEWSWIRE) -- Q Lotus Holdings, Inc. (OTCBB:QLTS) today announced it has commenced discussions to enter into a definitive purchase agreement with Greystone Digital Technologies, Inc. to acquire all of the assets, patents, trademarks, and software solutions for law enforcement and city government agencies. The software is currently in use for scanning and security purposes at airports, police departments and other secure governmental and private installations. The Company anticipates closing a definitive transaction within 90 days.
Forward-Looking Statement
This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential or financial performance. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Q Lotus Holdings, Inc. undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this press release should be evaluated together with the many uncertainties that affect Q Lotus Holdings' business.