SOURCE: Hi Score Corporation

December 07, 2010 08:30 ET

Hi Score Acquires DMD Lighting & Energy Control Systems Inc.

MIAMI, FL--(Marketwire - December 7, 2010) - Hi Score Corporation (PINKSHEETS: HSCO) announced today that it has entered into an agreement to acquire DMD Lighting & Energy Control Systems Inc. The acquisition includes a payment of Hi Score Common Stock and cash in exchange for 100% of DMD. The acquisition includes all of DMD's existing customer base as well as an employment agreement with DMD's CEO. In order to allow for an orderly transition the name of the CEO is being withheld until the last week of this year.

"We are very excited about this move," said Hi Score's CEO Michael Zoyes. "We have been working on this for several months and consider this move as a major milestone for the company." The transition will occur over the next 60 days and is expected to bolster gross sales tremendously. A spokesman for DMD said today that "the merging of the two companies should result in Hi Score's gross volume reaching at least 500K per quarter by the second quarter of 2011."

"What excites me the most is that this move should move us into the black and allow us to stop being dependent on financing. As I have mentioned, we have been reorganizing our efforts and realigning our goals over the past few months. This move is one of several positive moves that we hope to make over the next few months. Experts have been indicating to me that our stock price is extremely undervalued. I would not be surprised to see positive adjustments to this undervaluing as the company continues embarking on its realigned goals," continued Zoyes.

About Hi Score

Hi Score Corporation is a leading supplier of eco-friendly lighting products in the Western Hemisphere. It offers its customers the fiscal and ecological practicality of utilizing safe, efficient, solid state green lighting rather than conventional fluorescent and incandescent bulbs. The Company offers the widest selection of high quality, long lasting LED lighting products that that can replace existing incandescent, fluorescent and halogen bulbs, as well as compact fluorescent lights. Additionally, the Company offers Compact Fluorescent and Halogen Lighting under its EcoGreenBulb and REPCO Labels, respectively. The Company sells its products directly to distributors, consumers and businesses, as well as to municipalities.

Safe Harbor Statement: This release includes "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 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.

Contact Information