Carson City, NV & Hong Kong, Oct. 03, 2017 (GLOBE NEWSWIRE) -- Retech Corporation (OTC: RETC) announced today it has formed a wholly owned subsidiary which is named 12 Retail Corporation.
Angelo Ponzetta, CEO of 12 Retech Corporation, commented “We took this action today to prepare for our future operations. There are several timely acquisition opportunities that we are contemplating that would fundamentally change the operational footprint of our Company. These opportunities exist as a result of the current state of the global retail industry but more particularly, in the USA where we can acquire consumer product brands that can enhance our shareholder value.”
“In addition to being able to acquire operational entities in bottom of the trough valuations, we plan to take advantage of the synergies that they would offer to help us place our technologies into their sales channels. We of course would look to help their sales channel attract retail customers through our exciting and innovative 12 Mirror, 12 Kiosk and 12 Mobile-App offerings.”
“We see a win-win situation where we can assist branded operations with their e-commerce as well as improve our own fortunes by taking advantage of sales channel relationships. All of this will help our Company to build shareholder value and goodwill in the medium to long term.”
“In order to communicate more effectively to our target market audience, the Company has developed a new mission statement. ‘Leading the Profitable Convergence of Retail and Online Commerce Through Technology©’. We think that our mission statement conveys our strong and exciting message for the future about how we will provide positive impact upon the retail and e-commerce industries. 12 Retech Corporation looks forward to announcing exciting developments as they unfold.”
About 12 Retech Corporation:
12 Retech Corporation (OTC: RETC) is “Leading the Profitable Convergence of Retail and Online Commerce through Technology©”. The Company currently has three subsidiaries: 12 Hong Kong Limited, 12 Japan Limited and 12 Retail Corporation.
12 Retech Corporation manages our licensed technologies and is the developer, installer and operator of the Unifying Shopping eXperience System (“USXS”) proprietary technologies hosted on our 12 Mirror (iMirror) interactive electronic mirrors and our 12 Kiosk (iKiosk) interactive digital displays which can be installed in any high traffic location and enhanced through our 12 Mobile-App. All the Company's products are uniquely designed to bridge the convergence between physical and virtual Commerce by getting consumers back out to the brick and mortar shopping centers and malls, to enjoy the next level of shopping experiences utilizing their smart phones with the 12 Mobile-App, with our in-store technologies and/or our online technologies which allow consumers to purchase products directly from videos posted online. Our technologies are created to build loyal repeat customers for our brand partners the world over. When our interactive products are placed in high traffic locations like train stations, bus stops, airports, shopping venues and others, they provide media awareness with the ability for consumers to make purchases anywhere. 12 Retech Corporation operates through three subsidiaries; the technology development company 12 Hong Kong Limited, the operating subsidiary 12 Japan Limited which deploys our products and 12 Retail Corporation which will hold our future consumer brands and retail operations.
12 Retail Corporation is a USA Company that is the only vertically integrated company that uses all our technology to enhance Commerce through all channels. We design, manufacture, import, export, sell online, have retail boutiques and will sell to big box retailers. With our direct experience in all aspects of Commerce we are uniquely positioned to understand the convergence of Online and Retail as well as the issues with their implementation. This allows 12 Retech Corporation to design and provide solutions that stay ahead of the market and solve potential implementation challenges.
For more information visit our website at www.12retech.com
12 Retech Corporation is publicly traded in the United States on the OTC Markets under the symbol: RETC
Safe Harbor: This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.