SOURCE: Exit Only, Inc.

February 28, 2011 09:20 ET

Exit Only, Inc. Engages Lighting Industry Pioneer; Forms New Technology Subsidiary and Acquires Exclusive Technology Patent

SANTA MONICA, CA--(Marketwire - February 28, 2011) - Exit Only, Inc. (PINKSHEETS: EXTO) today announced that its wholly owned subsidiary Shats International Holdings, Inc. ("SIH") acquired the exclusive rights to US Patent # 6,188,185 B1, Process for Manufacturing a Neon Tube, and Related Low Temperature Lighting System. Pursuant to the terms of the acquisition, the technology founder and world renowned scientist Artak Ter-Hovhannisian has joined EXTO as a consultant. The related technology will be housed in a newly formed subsidiary named Shats Lighting Solutions. 

The addition of Mr. Ter-Hovhannisian brings a seasoned and high caliber technology industry inventor to the company. Mr. Ter-Hovhannisian's initial focus will be to facilitate the launch and commercialization of the cold cathode product underlying his patent and to generally assist the company's senior executive officers in the development and rollout of SIH's business operations.

In commenting on his appointment, Mr. Ter-Hovhannisian stated, "I am very excited about advising the innovative and creative team at SIH and I look forward to facilitating the launch of what promises to be an outstanding and game changing technology product."

"I am very excited to welcome Ter-Hovhannisian to the SIH family," stated Diana Shats, EXTO's Interim President and Chief Executive Officer. "Our corporate philosophy is dedicated to building the best team of progressive thinking and exceptional managers to drive our vision, business and, ultimately, value for our shareholders. We believe Artak's decision to join EXTO is a validating example of this philosophy being put into action. Simply put, Artak is an outstanding professional whom we believe will contribute greatly to EXTO's future successes." Diana further proclaimed, "We are committed to enhancing shareholder value and are in the process of retiring a large block of common stock held by insiders so no reverse stock split will be necessary to achieve the Company's funding requirements to secure contract obligations with a national leader of a bakery case manufacturer."

About Shats International Holdings, Inc.

Shats International Holdings, Inc. business model is centered around an array of subsidiary acquisitions with its primary focus identify strategic growth companies, intellectual properties, and assets within the US and abroad that will bring significantly enhanced valuation to its shareholders through a vast and diverse field of industries. Additional information will be available shortly at both Pinksheets.com and the company's website. http://www.shatsholdings.com/

Cautionary Note Regarding Forward Looking Statements

This press release and the statements of representatives of Exit Only, Inc. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, SIH's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (PinkSheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

Contact Information

  • CONTACT:
    Investor Relations
    Briggs Smith
    813-438-5225
    Email Contact

    Shats International Holdings, Inc.
    800-406-7906
    Email Contact