Patriot Energy Corporation

Patriot Energy Corporation

August 06, 2008 10:30 ET

Patriot Energy Corporation Unveils Ground Breaking Water Alarm Monitoring System (WAMS™

Toltec Solutions (TTS) (A Wholly Owned Subsidiary) is a technological innovation company in the Telematics industry

MONTREAL, QUEBEC--(Marketwire - Aug. 6, 2008) - Patriot Energy Corporation (PINKSHEETS:PGYC) is pleased to introduce our groundbreaking Water Alarm Monitoring System (WAMS™. This one of a kind product is unique and it addresses the multi-billion dollar worldwide market for accidental flood damage directly associated with faulty water pipes. This product is proprietary and it will catapult TelTeck Solutions to the forefront of the Telematics industry as we prepare to become the world industry leader.

The Water Alarm Monitoring System (WAMS™ constantly monitors water displacement in the pipes. As a result, when activated, the prevention of potential water leakages becomes possible. Water damage due to broken or frozen pipes totals well into the hundreds of millions of dollars and ranks second only to hurricanes when it comes to the total number of homes affected and the cost of insurance claims, according to Mark Cramer, industry expert. One estimate puts the average water-leak insurance claim between $30,000 and $40,000 and up to $90,000 to $100,000.

The Water Alarm Monitoring System will make TelTeck Solutions the preferred provider of the Telematics solution for water damage prevention. Insurance companies will quickly realize that it is much cheaper to monitor and prevent water damage than pay out on water damage claims to businesses and residential customers. The insurance industry pays out billions of dollars annually in claims for accidental water damage which could have been prevented if clients would have been using the WAMS™ product.

TelTeck Solutions expects to sell millions of WAMS™ globally. The monthly re-occurring revenue from the WAMS™ sales will be in the multi millions in the near future as the deployment of the WAMS™ is accelerated through distributors in the US, Canada, Europe and the Far East.

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

Last update: 10:30 AM EDT August 6, 2008

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  • Patriot Energy Corporation
    Paul Mastantuono
    Communication Coordinator