ARDEN, NC--(Marketwire - February 9, 2011) - WatchIt Technologies Inc. (
"Members of the board are actively engaged in discussions with a select group of investors who are committed to assisting the company long term and as a result are willing to invest in the preferred series of stock. By offering this series of stock, it will provide the company with the necessary capital to accomplish its goals without having a dilutive impact on the common shares," stated Max Bennett, President and CEO of WatchIt Technologies. "Thus far the discussions have resulted in a presentation of a term sheet from one investor followed by a verbal commitment of acceptance. The investor has committed to a term sheet for a significant amount of durable non-dilutive financing. With the most recent discussions and negotiations, we are very optimistic about securing the first major investment dollars necessary to bring our breakthrough Fuel Reformer to the market."
"The company is proceeding in a planned and deliberate process in regards to financing, patent solidification and development," stated Bennett, President and CEO of WatchIt Technologies. "The process of bringing a new product to market requires the management team to understand and implement a multitude of steps and safeguards to insure our shareholders' investments are secure and future customers are getting the best product available. We are committed to keeping our shareholder base informed and up to date."
About WatchIt Technologies:
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.
Website: www.watchittech.com
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Contact Information:
Contact:
Investor Relations
1-828-483-4131