HONOLULU, Oct. 8, 2010 (GLOBE NEWSWIRE) -- Smart Grid Systems, Inc. ("SGS"), a pioneering micro-turbine electric generator developer in Hawaii, through its consultants and officers, is considering options for its shareholders to have liquidity for their investments in SGS. SGS's options include a share issuance overseas in either Germany or London, a merger with another firm, and a reverse merger with a transfer of SGS assets to a company listed on the London or Frankfurt stock open market exchange.
SGS will hold a board of directors meeting in Hawaii in the future to discuss financing options. If SGS opts for a reverse merger, the current rate of capitalization will provide the cash necessary to purchase controlling interest of an exchange-traded vehicle company and to finance merger costs by year-end.
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. SGS has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect SGS's current beliefs and are based upon information currently available to it.
Accordingly, such forward looking statements involve known and unknown risks, uncertainties and other factors which could cause the SGS's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. SGS undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.