CAMPBELL, Calif., April 02, 2019 (GLOBE NEWSWIRE) -- KULR Technology Group, Inc. (OTCQB: KUTG), (the “Company” or “KULR”), issued its Annual Report on Form 10-K for the fiscal year ended December 31, 2018. Its Chief Executive Officer, Michael Mo, provided the following statement:
To our shareholders:
Financial Milestones:
We believe the growth of the E-Mobility market will continue to create significant new opportunities for the application of our technology and intellectual property (“IP”). The E-Mobility market consists of electrification of power trains with lithium ion batteries, vehicle management systems and the communications infrastructure to support the vehicles. These new opportunities will be further driven by certain behavioral changes we’ve observed in younger generations who seem to increasingly cope with higher population densities and prefer sharing services instead of ownership of products. We believe these technology and demographic trends will lead to new E-Mobility products and services in the future.
KULR will continue leveraging its heritage and expertise in high performance space energy management technology to develop solutions for E-Mobility applications. Our focus is to provide safety and energy management solutions for lithium-ion batteries in E-Mobility vehicles. We believe we are well positioned to serve customer specific needs and intend to expand our business through partnerships, IP licensing and acquisitions. In the case of acquisitions, we seek to acquire businesses that are synergistic and complimentary to our existing technologies, operations and management experience.
The foregoing information and summary of results of operation does not purport to be complete and is qualified in its entirety by reference to the complete Annual Report on Form 10-K for the period ended December 31, 2018, which was filed on March 29, 2019.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our parent entity’s Form 10-K filed on March 29, 2019. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
KULR Technology Group, Inc.
INVESTOR RELATIONS AND MEDIA CONTACT:
Derek Newton, Head of Investor and Media Relations
(786) 499-8998 derek.newton@kulrtechnology.com