SOURCE: NW Tech Capital, Inc.

December 02, 2008 09:45 ET

NW Tech Capital, Inc. Highlights This Year's Accomplishments and CEO's Forecast for 2009

VANCOUVER, WA and PORTLAND, OR--(Marketwire - December 2, 2008) -


NW Tech Capital, Inc. (OTCBB: NWTT) Highlights for 2008 were many and forecast for 2009 looks even better.

Our accomplishments for 2008

Teledigit accomplishments

--  On June 30, 2008 Teledigit became a Select Certified Registered
    Partner with Cisco Systems, opening up a whole new market for Teledigit
    products and services.
    
--  On July 7, 2008 Teledigit completed a Major installation of a Nortel
    switch for a Large Health Care Provider in the Northwest, establishing
    itself as a company that can not only handle the small to medium size
    businesses, but can also handle the larger businesses Telecom needs.
    
--  Also in July, 2008 Teledigit started offering the Vertical
    Communications WAVE IP 2500 VoIP PBX systems which deliver new generation
    enterprise-level communications capabilities at a small business price.
    During July Teledigit installed 3 of these new systems opening up a new
    business segment for Teledigit.
    
--  On August 20, 2008 Teledigit became an Adtran Advantage Partner,
    reselling the full line of data networking, telecom and wireless products
    Adtran offers.
    
--  September 9, 2008, July and August revenues for Teledigit where
    announced and Teledigit revenues were up by 12.5% for the same period the
    previous year.
    
--  November 7, 2008 NWTT files its quarterly 10Q, announcing its revenues
    from the acquisition exceeding $500,000 for the 3rd quarter 2008.
    

China accomplishments

--  February 21, 2008, the Board of Directors of NWTT approved sending a
    delegation to China to seek out merger and acquisition opportunity.
    Targeting companies in China that have approximately $5,000,000 in annual
    revenues, EBIDTA of in excess of $500,000 or more and a 5 year history of
    operations. Also, looking for a professional management team in place with
    a proven business line.
    
--  April 24, 2008, NW Tech Capital, Inc. announced that it has
    successfully incorporated a new Hong Kong/China company effective April 17,
    2008. The new company is NW Tech Capital Group (Hong Kong) Limited with
    registration number 1228097. This company is a subsidiary of NWTT and will
    be used as a management company to bridge the gap between NWTT and possible
    mergers and acquisitions in China.
    
--  August 19, 2008, NW Tech Capital, Inc., announced that it has entered
    into a Letter of Intent to acquire 51% of the controlling shares of Zhuhai
    Jialun Guangcai Chain Drugstore Co., Ltd. ("ZJG Drugstores"). Although this
    purchase was not completed the company has made many valuable steps into
    entering the China market and believes it will have future success in this
    market in 2009. NWTT is still working on a joint venture with the ZJG
    Drugstores.
    
--  October 9, 2009, NW Tech Capital announced the change in Direction
    with ZJG Drugstores to enter into a joint venture to develop new
    distribution centers for ZJG Drugstores.
    

NW Tech Capital accomplishments

--  In January 2008 NWTT announced a purchase agreement signed with
    Teledigit Inc., to purchase 100% of Teledigit Inc., pending an audit of
    their financials on or before July 31, 2008.
    
--  June 12, 2008 the audit on Teledigit was completed ahead of schedule.
    
--  On June 17, 2008 the deal to purchase Teledigit Inc. was completed 45
    days ahead of schedule.
    
--  On August 12, 2008, NWTT announced a settlement with the SEC for
    violations dating back to 2002-2005 which did not involve the current
    management of NWTT. But management was able to negotiate a settlement with
    the SEC, although the settlement provides for disgorgement in the amount of
    $5,330,198, plus prejudgment interest thereon in the amount of $1,502,535
    for a total amount of $6,832,733, it specifically states that the Court is
    not ordering the Company to pay a civil penalty and the payment of all
    disgorgement and pre-judgment interest thereon is waived. Whereby saving
    the company nearly $7 million and allowing it to move on with its current
    business plans.
    
--  On November 11, 2008 NWTT purchased another subsidiary "Microholdings
    US (PINKSHEETS: MCHU)" a publicly traded pink-sheet trading under the
    symbol "MCHU." NWTT is currently seeking a merger or acquisition candidate
    for Microholdings.
    

Outlook for the future from CEO James Wheeler

James Wheeler states: "I believe there is a bright future for NWTT in 2009. We have laid a lot of ground work in 2008 that will be needed to make us more successful in 2009. The acquisitions of both Teledigit and Microholdings US, should make NWTT attractive to new investments and new shareholder interest in 2009. We plan to continue to grow Teledigit through added services and working with our new vendors this year; such as Cisco, the new Vertical products like the WAVE IP 2500 VoIP systems and new added network and data services. We believe Teledigit has great growth possibilities in 2009 and look forward to helping them reach their fullest potential." He continues: "With the acquisition of Microholdings US we are looking for a new source of revenue for NWTT. We plan to use MCHU to seek new acquisition or merger candidates. We are currently negotiating deals for MCHU and will be announcing these deals as agreements are signed. We will also continue to work on our China connections for mergers and acquisitions to increase the value of NWTT."

Mr. Wheeler also states: "We are looking forward to the new year. Many great possibilities are in our grasp and we will be working hard to complete each and every deal for advancement of NW Tech Capital and its valued shareholders. We hope that the market will soon realize that the company is currently undervalued and respond accordingly. I would like to thank all of our shareholders for their support in 2008 and wish them all a very Merry Christmas and a very prosperous new year with NWTT."

About NW TECH CAPITAL, INC.

NW Tech Capital is a holding company with interests in areas of telecommunications, data management, information systems and public safety communication and response solutions. NW Tech trades on the OTC Bulletin Board under the ticker symbol NWTT. For more information on NW Tech Capital or Teledigit contact investor@nwtechcapital.com or visit web site at www.teledigitinc.com.

Certain Information

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of NWTT officials are "Forward-Looking Statements": within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Certain statements in this news release may contain forward-looking information and are based on Management's current expectations, estimates and projections subject to change. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "estimates" and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements. Unless legally required, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The Company disclaims any information that is created or distributed by any outside party and endorses only information that is communicated by its official Press Releases.

Contact Information

  • Contact Information:
    NW Tech Capital, Inc.
    Vancouver, WA
    James Wheeler
    Chairman & CEO
    (Tel) 360-823-4343
    E-mail: Email Contact