SOURCE: Kenergy Scientific, Inc.

March 02, 2011 10:00 ET

Kenergy Scientific, Inc. (formerly SpeechSwitch, Inc.) (PINK SHEETS: KNSC) Letter of Intent to Acquire Unique Advertising Opportunity

FLEMINGTON, NJ--(Marketwire - March 2, 2011) - Ken Glynn, President of Kenergy Scientific, Inc. (PINKSHEETS: KNSC), today announced that the company has completed a Letter of Intent to acquire all of the assets of I Won It Live Enterprises. These assets include all intellectual property, including trademarks, domain name and an operating on line game show that offers both unique advertising opportunities and revenue generating opportunities for Kenergy. The website, is believed to be the first website to offer members instant prizes for winning on line games where players play live against other contestants. Mr. Michael Johnson, a successful pioneer in creative internet businesses, developed the concept in 1999 and recently developed and expanded the site. The current membership is growing daily and the site is expected to generate positive cash flow this year. The site affords Kenergy a continuous advertising opportunity to promote both the website, as well as store advertising. Kenergy and other companies will provide prizes and receive additional advertising at the games in the form of promotional presentations. Other companies will pay small advertising fees per game that are expected to grow rapidly. Ken stated that he would not attempt this venture without new personnel on the team and he also announced that two of the founders and the technical support team of I WON IT LIVE Enterprises will be coming on board to fully operate the website. Mike Johnson will be serving as CEO for the website and salaries will be based solely on commissions from site revenues. The acquisition costs will be payable over one year and will likely be fully paid from the site revenues. Ken welcomed Mike and his support team to the table and expects the transaction to be completed shortly. This LOI is subject to final negotiations of the acquisition contract.

This press release contains 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. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Contact:
    Kenergy Scientific, Inc. (formerly SpeechSwitch, Inc.)
    Ken Glynn
    CEO and President
    908 788 0077