ARDEN, NC--(Marketwire - October 15, 2010) - WatchIt Technologies Inc. (
"Air Pure Systems Development and WatchIt Technologies are currently completing the necessary due diligence and expect that the purchase will be completed within 30 to 45 days," stated Brian Riley, President and CEO of WatchIt Technologies.
"Having the in-house technology to provide a variety of off the shelf reports to assist Air Pure Systems Development in the testing and evaluation of the revolutionary 'fuel reformer' technology puts us at the front of the industry in being able to effectively and accurately demonstrate the impact of our device," stated Rob Ryon, President and CEO of Air Pure Systems Development. "We are acutely aware that in the current environment our technology will receive both public and corporate scrutiny and using the GPS technology will assist us in achieving our goal of transparency."
According to the company, Ecologix is a GPS (Global Positioning System) hardware and software company that specializes in custom applications. Ecologix will also have the ability to produce custom software applications, if needed, for real time data collection. Ecologix's current customer base ranges from law enforcement to public utilities and other small to medium sized fleets which will also be candidates for cross sales of the "fuel reformer" and/or be used for future testing and evaluation of the device.
"The immediate value that Ecologix is bringing to WatchIt Technologies is that it is revenue producing, it has a rolodex of existing customers for the 'fuel reformer' and can provide some of the in-house testing and evaluation hardware and software to monitor fuel savings, increases in MPG, and eventually documenting the decrease in tailpipe emissions," stated Brian Riley, President and CEO of WatchIt Technologies Inc.
WatchIt Technologies is actively seeking companies that have the attributes of being highly innovative and "first in" within their respective sector. Most companies partnering with WatchIt Technologies will have already completed their initial R&D and will need management consultation and financial assistance to take it to the next level, and to profitability.
About WatchIt Technologies Inc.:
WatchIt Technologies is an alternative "incubator" for developing and emerging "Green Technology" corporations. Its focus is on strategies that are structured to mitigate risk and produce returns in all market environments. Its current investment/development strategy is on direct investments in small/micro-cap public companies that have emerging growth and development and are exclusively involved in some aspect of "Green Technology."
It will offer management consultation to companies that meet its strict criteria and vetting process, and align them with individuals and financiers to help them achieve their financial goals and objectives.
Safe Harbor Act: Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact Information:
Contact:
Investor Relations
1-828-483-4131
www.watchittech.com