SOURCE: SpeechSwitch, Inc.

August 24, 2010 15:26 ET

SpeechSwitch, Inc. (USOTC: SSWC) Announces Progress Report

FLEMINGTON, NJ--(Marketwire - August 24, 2010) -  Ken Glynn, President of SpeechSwitch, Inc. (PINKSHEETS: SSWC), reported today that the Company is making great progress in many areas, as follows:

(1) Retail Sales: Walmart.com has completed its testing and evaluation of the Kenergy™ Solar Recharger for specified iPhone, iPod, music players and other electronic devices. They have agreed to sell this product on their website and to review other products in the future. The Company is making final contractual arrangements with Walmart.com's distribution subcontractor. Also, a major retailer of portable video games has requested a meeting to discuss carrying that product, and possibly other rechargers, on a nation-wide basis. In addition, two educational product companies are reviewing the Company's products. Discussions continue with numerous other retailers and marketing entities. Sales for fourth quarter of this year are expected to exceed $500,000.00, excluding direct company retail sales.

(2) Telemarketing: The Company is engaging a major production studio to redo the two minute infomercial for the Kenergy™ OmniCooker Grill, now that three versions are available. The original airs on the company website www.speechswitchusa.com, and the new version to be made will be used on future TV infomercials, expected to air within the next four to eight months. The production studio, Roller Coaster Studios, has worked with Glynn on a couple of projects and is most well known for its BMW, J G Wentworth and major bank commercials. 

(3) SEC Filings: 2008 quarterly and annual reports are completed and 2009 will be finished shortly. The Company has hired Friedman, LLP to conduct the independent auditing. Friedman group has more than 450 accountants and is one of the top SEC compliance auditing firms in the Northeast. 

(4) Patents: The United States Patent and Trademark Office has granted a Notice of Allowance on a solar based transportation invention. The patent should issue before the end of November and will be offered to the industry for licensing or acquisition. Ongoing discussions continue regarding the recently filed patent application covering carrying bags with solar powered combination lighting and cell phone recharging.

Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. 

Contact Information

  • Contact:
    Ken Glynn
    908 788 0077