SOURCE: SpeechSwitch, Inc.

June 18, 2010 14:00 ET

SpeechSwitch, Inc. (USOTC: SSWC) Updates Share Situation; Provides Preliminary Look at Healthcare Activities

FLEMINGTON, NJ--(Marketwire - June 18, 2010) -  Ken Glynn, President of SpeechSwitch, Inc. (PINKSHEETS: SSWC) stated today that he has had many requests to update the share status of the company. There are ten billion shares authorized with under 7.2 billion shares issued. Of the issued shares, about 1.5 billion shares are freely tradable, the remainder being under severe restriction (Ken's shares, for example, can only be sold after the company has been brought SEC reporting-current, and then only at the rate of sell off of 1% per quarter -- it might take years or decades!). Ken also stated that he has not traded any shares in the past few weeks, and believes that sell-offs are part of normal and healthy growth of an active stock. He emphasized that the tradable float is less than ten times the average volume over the recent past. Ken also indicated that on Monday, he is meeting with and engaging a bookkeeper and outside accountants to work solely on the SEC filings and believes that the company is on target to bring SEC filings current by the end of July.

Ken further stated that the Healthcare Division of the company's Kenergy Scientific Group has been and is accumulating healthcare patents and pending applications relating to diagnostic systems, drug delivery systems and medical and non-medical treatments. The Healthcare Division will not make or sell products or medical methodologies, but rather is expected to generate significant long term revenues through licensing and/or sale of the intellectual property to the healthcare industry. A detailed progress report on the Healthcare Division will be provided in a press release on Monday.

 We are devoted to the development and sale of products in four SSWC categories: Solar power systems; Solar products; Wind turbine systems and other Creative products -- SSWC, that's our symbol! We will build value through four mechanisms -- rigorous development of a new inventions patent portfolio; licenses/acquisitions of third party patents; marketing of existing novel products; and development of proprietary products through strategic alliances. (SpeechSwitch, Inc. is an independent, publicly traded company and is not affiliated with iVoice, Inc. or its related companies. We are no longer in the speech recognition systems business.)

 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