SOURCE: SpeechSwitch, Inc.

December 01, 2010 11:10 ET

SpeechSwitch, Inc. (USOTC: SSWC) Monthly Status Report

FLEMINGTON, NJ--(Marketwire - December 1, 2010) - Ken Glynn, President of SpeechSwitch, Inc. (PINKSHEETS: SSWC), today provided the following status report:

(1) SEC FILINGS. The annual 10Q for 2009 second quarter is edgarized and is expected to be filed later today. The drafts for third quarter 2009 10Q and 2009 end of year10K have been completed and under review for filing. Also, the last three quarterlies- 09' 1st quarter, 2nd quarter and 3rd quarter 10Qs are now completed.

(2) CORPORATE. The company name will be changed to KENERGY SCIENTIFIC, INC. as soon as possible. A Board Resolution on October 29, 2010 established the first step and an SEC lawyer in Washington, DC has been engaged to complete the effort. The Board of Directors will add members beginning in early 2011. Applicants have been and continue to be interviewed.

(3) CORPORATE STORES/FRANCHISE STORES. We now have a lease draft for our Flemington GREENSMART Store and expect it to be finalized by next Wednesday. The realtor exploring the New Brunswick Rutgers University campus area for a second company store site has identified candidates and a store committee will review the sites within the next week. Rutgers students are very positive and enthusiastic about a campus area GREENSMART Store. Inquiries for franchises continue to flow in and one potential franchisee is asking about exclusivity for the entire Atlantic City region and two surrounding counties. We have had more than a dozen inquiries and these interested parties await the opening of a company store to engage in serious negotiations. We believe that by the end of 2011, we will have at least 10 to 20 franchise stores in different phases of operation.

(4) WEBSITE. CEO Central's business development team is constructing a new website as a base for the company's product. Progress is being made and the new site is expected to be functional very shortly.

(5) RECYCLED BOTTLE CLOTHING LINE. Preliminary discussions are underway for a Kenergy™ line of clothing for the stores and the website, as well as for wholesale sales to third party vendors. The clothes contain recycled water bottle polyester fibers. The recycled bottles are shredded and melted and spun into fine polyester fibers at a New England plant and the polyester yarn is sent to Central America for blending with recycled cotton, organic cotton or new cotton to make the clothing. All Kenergy™ Brand Clothing will contain at least 40% recycled material. The lines will include sweatshirts, hooded sweats, jackets, sweaters, shirts and tee shirts. The first order may be completed and delivered by April 2011. 

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:
    SpeechSwitch, Inc.
    Ken Glynn
    CEO and President
    908 788 0077