SOURCE: SpeechSwitch, Inc.

November 18, 2010 11:00 ET

SpeechSwitch, Inc. (USOTC: SSWC) Updated Status Report -- SEC Filings; Stores; Website

FLEMINGTON, NJ--(Marketwire - November 18, 2010) - Ken Glynn, President of SpeechSwitch, Inc. (PINKSHEETS: SSWC), today provided the following status report:

(1) SEC FILINGS. The annual 10K for 2008 was filed this week and two others will be filed on Monday. The drafts of all of 2009 10Qs and 10K have been completed and under review for filing in a matter of days. Also, the last three quarterlies -- 09' 1st quarter, 2nd quarter and 3rd quarter 10Qs are now being completed and will be forwarded for final review and filing. As soon as these are completed, the Company will be current and the caveat emptor is expected to be removed.

(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.

(3) CORPORATE STORES/FRANCHISE STORES. At last, we are advancing from a term sheet to a lease draft for our Flemington GREEENSMART Store and a realtor is exploring the Rutgers University campus area for a second company store site. 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 in three weeks.

(5) NEW PRODUCTS. As reported earlier, more than twenty five new products have been added and will be offered online for the Christmas season. A shipment of solar paneled, recharger designer pocketbooks as well as shoulder bags and backpacks will arrive within the next three weeks. Print Media advertising will be purchased to drive purchasers to the website to purchase for Christmas.

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