ARDEN, NC--(Marketwire - January 18, 2011) - WatchIt Technologies Inc. (
"Members of the board have been actively engaged in discussions with a variety of possible candidates for a durable finance package with minimal impact on the current outstanding common stock," stated Max Bennett, President and CEO of WatchIt Technologies. "Thus far we have had initial discussions with multiple financial institutions and high-net worth investors both foreign and domestic. The response thus far has been overwhelmingly positive. We are very optimistic about securing the additional investment necessary to bring our breakthrough Fuel Reformer to the market."
At the request of the various potential investors, the Company has updated its business plan to include the recent test results obtained from the EPA certified testing facility. Those results and their interpretations are to be released in the near future.
"The fuel reformer performed beyond our greatest expectations, which necessitated a revision in the business plan and the timetable for completion of the project," continued Bennett. The Company reports that the initial results will be reported in a press release with a "white paper" to follow which will be posted on the Company's web site. The purpose of the "white paper" is to give interested parties an in-depth perspective of the performance of the fuel reformer and provide some detailed explanation and comparisons of the extremely positive results. The Company hopes that once one has completed reading the paper, a greater understanding of how the fuel reformer works and its tremendous impact will be gained. The interpretative report will contain both MPG and emission test results as well as an overview of their relevance to the economy, the environment and Homeland Security.
About WatchIt Technologies Inc.:
WatchIt Technologies is an alternative "incubator" for developing and emerging "Green Technology" companies and technologies. The Company's flagship product is the revolutionary "Fuel Reformer" technology. Its focus is on strategies that are structured to mitigate risk and produce returns in all market environments. Its current investment/development strategy is focused on direct investments in small/micro-cap public companies that have emerging growth and development and are exclusively involved in some aspect of "Green Technology."
Safe Harbor Act: Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact Information:
Contact:
Investor Relations
1-828-483-4131
Website: www.watchittech.com
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