SOURCE: Smokefree Innotec, Inc.

Smokefree Innotec, Inc.

March 19, 2010 06:00 ET

Smokefree Innotec, Inc. Projects Distribution Expansion to 125,000 Outlets

NASHVILLE, TN--(Marketwire - March 19, 2010) -  Smokefree Innotec, Inc. (PINKSHEETS: SFIO) ( or released information today regarding its current projections. As previously announced, the line of credit granted by its European bank, and guaranteed by the Flemish government, is being finalized for Smokefree Innotec, Inc. and is anticipated to be available for the company to draw upon within the next 10 days. Consequently, the company is coordinating immediate deliveries for its major distribution company presently under contract, servicing approximately 125,000 vending machines. Requests for delivery terms and conditions are also being received from additional European vending distributors.

All funding for inventories are being provided by a combination of the bank financing underway plus purchase order financing being negotiated with various sources, in amounts adding up to a possible aggregate of $20,000,000. However, the company anticipates that customers anxious for deliveries will pay 60% up front at the time of the order, and the balance due upon shipment. The Company is ordering an additional one million filters to warehouse in preparing to meet this level of demand.

In reality, preliminary company forecasts conservatively estimate gross profits being generated of up to $1,750,000 annually based on selling only one pack per day from each machine that vends Smokefree Innotec products placed in operation by our distributor currently under contract. Although these estimates were carefully constructed to the best of our knowledge and information available at the present time, there can be no reasonable assurance to a prudent investor that the company will achieve these forecasts totally, even though it is equally possible they may be exceeded; please read the legal disclaimer stated below.

About Smokefree Innotec, Inc.:

Smokefree Innotec, Inc. is in the business of designing, developing, manufacturing and marketing a hi-tech, nicotine delivery cigarette-like device which is completely smoke and vapor-free and tobacco-free. Smokefree Innotec's products are designed to protect the non-smoker from second hand smoke and all its effects while providing the smoker a way to enjoy a smoke-free cigarette anywhere, including places where smoking tobacco or similar substances is prohibited. Further, our products will allow the smoker to enjoy smoking while not having to worry about the offensive dangers and ill effects of regular cigarette smoking.

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A number of statements referenced in this Press Release are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, and goals, assumption of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this Release may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may", "could," or "might" occur. Such statements reflect the current views of Smokefree Innotec Inc. with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Smokefree Innotec Inc. does not undertake any responsibility to update the "forward-looking" statements contained in this news release.

Contact Information

  • Contact:
    Smokefree Innotec, Inc.
    Kim Carroll, Investor Relations
    +1 949 630 9831

    StockProfiler.US LLC
    Jay Hughes, COO
    +1 603-424-4420