ARDEN, NC--(Marketwire - February 7, 2011) - WatchIt Technologies Inc. (
"In the months ahead, the company will be evaluating the benefits and advantages of including other countries in the process," stated Max Bennett, President and CEO of WatchIt Technologies. "Under consideration at the present time are China, Canada, Australia, Japan, Mexico, Brazil, India and South Korea. Some of the countries are obvious candidates, while others will need additional evaluation."
According to the company, in the United States, it will take at least 1 to 1 1/2 years for the patent office to review the patent information. During that time the patent is considered "pending." Once its evaluation is completed, the United States will "issue" a patent, while other countries will "grant" a patent.
"This is a long and tedious process that will be one of the major expenses, outside of development, that the company will incur," according to Bennett. "In the continuing discussions with potential major investors, the patents have been a very important part of the attraction to the company. In some instances, the inclusion of certain countries has been a criterion for continuing the negotiations. With this step complete and a road map of future decisions laid out with the attorneys, we are confident we can move forward on all fronts."
In a related matter, the company was made aware of an inconsistency in the language that was used in referencing the independent lab that performed the testing on the "fuel reformer." The recent tests referred to in our news releases were performed by Environmental Testing Corporation (ETC), a high altitude testing facility located in Aurora, CO. They are an industry leader in their field, with over 30 years' experience. As stated on their website: "ETC is recognized by the EPA and the California Air Resources Board as a laboratory capable of performing vehicle emissions certification. ETC is also ISO 17025 accredited for performing many types of certification tests." "http://www.etclab.com/Vehicle-Emissions-Certification.asp." "We mistakenly referenced ETC as being EPA-certified, while our intentions were to state as they do on their website that the company is recognized by the EPA and the California Air Resources Board as a laboratory capable of performing vehicle emissions certification."
About WatchIt Technologies Inc.:
WatchIt Technologies is an alternative "incubator" for developing and emerging "Green Technology" companies and technologies. The Company's flagship product is the revolutionary "Fuel Reformer" technology. Its focus is on strategies that are structured to mitigate risk and produce returns in all market environments.
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:
WatchIt Technologies Inc.
Investor Relations
1-828-483-4131
Website: "http://www.watchittech.com"
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