SOURCE: Rocket City Enterprises

March 02, 2008 23:22 ET

PostInk Technology, LP Was Released From the Acquisition Agreement Dated October 31, 2007

ORLANDO, FL--(Marketwire - March 2, 2008) - Rocket City Enterprises, Inc. (PINKSHEETS: RCTY), a holding company specializing in auction services, eCommerce, software development, technology and retail automotive operations, announces that PostInk Technology, LP was released from the Acquisition Agreement dated October 31, 2007. PostInk Technology, LP was released from the acquisition due to Rocket City Enterprises' inability to carry out its obligations as set forth in the Acquisition Agreement.

In addition, as stipulated in the Acquisition Agreement entered into by Rocket City Enterprises, Inc. and PostInk Technology, LP, the acquisition did not occur within the time period specified. As such, and in accord with the agreement, PostInk Technology, LP is and remains a privately held company. While the Acquisition Agreement was in place, both companies continued to operate independently.

Headquartered in Canyon Lake, Texas, PostInk Technology has developed the first integrated Law Enforcement software product, COPsync™, that provides a real-time information sharing network for all law enforcement officers in all 50 states and internationally while in the field, providing global networking capabilities. COPsync™ enables police officers to communicate on a unified system to access critical information at the point of incident via laptop computer or handheld device in order to protect themselves and the general public.

PostInk Technology, CEO Russell Chaney, stated, "In light of the allegations that developed with the former CEO of RCTY, I felt it was in the company's best interests long-term to withdraw from the Acquisition Agreement. COPsync™ is a software platform dedicated to the Law Enforcement community and with allegations of malfeasance I felt I was left with no alternative but to seek release from the Acquisition Agreement."

Disclaimer:

CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook.

Contact Information

  • Contact:
    Rocket City Enterprises
    Investor Relations:
    Andrew Barwicki
    407-219-3770