SOURCE: NuState Energy Holdings, Inc.

January 10, 2008 13:50 ET

NuState Energy Holdings Assigned NSEH as New Stock Symbol

BOCA RATON, FL--(Marketwire - January 10, 2008) - NuState Energy Holdings, Inc. (OTCBB: NSEH), formerly known as Fittipaldi Logistics, Inc., announced that it began trading today under its new symbol "NSEH" on the OTC Bulletin Board. The company's former symbol was FPLD. The change of name reflects the company's strategy to become a leader in providing telematics solutions that help to reduce fuel consumption and harmful gas emissions. "Driver Seat," the company's proprietary software application, is the driving force behind this strategy. First, it is capable of validating nearly any product designed to improve fuel efficiency or reduce harmful gas emissions more accurately and quickly than any other method. Second, it is a fuel management tool that provides real-time information, such as vehicle speeds, idling times and out-of-route notifications, which over-the-road trucking companies use to modify certain driving habits of their drivers to lower their fuel costs.

Also, NSEH provides a broad range of telematics solutions that collect vehicle and container-based data and integrate it with information gathered from various disparate legacy systems. The data is then synthesized and reformatted into valuable, actionable information, and delivered to appropriate end-users across the logistics value chain through secure web-based applications. Among the many capabilities of these telematics solutions are inventory/asset visibility, secure trucking and matching of available freight with available trucks. The company also owns Fittipaldi Carriers, a regional logistics company based in Columbia, SC with projected annual revenue of $30 million. For further information, go to

The name and symbol changes do not affect the rights of the company's stockholders. Current stockholders will not be required to turn in their stock certificates for new certificates. However, if any current stockholders desire to exchange their stock certificates for certificates that have the new corporate name and CUSIP number (67058V101), they may do so by mailing the certificate to the company's transfer agent, Madison Stock Transfer, Inc., 1688 East 16th Street, Brooklyn, New York 11229, telephone number is (718) 627-6341. Any costs associated with the exchange will be the responsibility of the stockholder.

This press release includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: we have a history of losses and an accumulated deficit, expect losses to continue for the foreseeable future and will need to raise additional working capital in order to implement our business model and sustain our operations; the loss of one or more of our major customers could materially and adversely effect our future revenue and business operations; as well as those factors discussed under "Risk Factors" in our Annual Report on form 10-KSB filed on October 15, 2007 and various disclosures in other reports filed from time to time with the United States Securities and Exchange Commission.

Contact Information

  • For further information, please contact:
    Richard Hersh
    (561) 998-7557
    (866) 998-7557