SOURCE: Transfer Technology International Corp.

Transfer Technology International Corp.

May 04, 2009 16:05 ET

Transfer Technology International Corp. CEO Provides Corporate Update

TAMPA, FL--(Marketwire - May 4, 2009) - Transfer Technology International (PINKSHEETS: TTIN), an emerging technology transfer company, provides a corporate update to stockholders and other interested parties.

Fellow Stockholders,

First of all, let me thank you for your continued support of our company. 2008 was a very exciting year for Transfer Technology International. We have moved forward on many fronts and believe we are positioned for a great 2009 and beyond. I wanted to take this opportunity to share with you some of our corporate developments.

In two rounds of independent laboratory tests, our organic canker control formula has surpassed our greatest expectations. The formula indicated a 100% eradication of bacteria that causes citrus canker, outperformed the current most popular treatment for citrus canker, and after 24 hours our formula allowed no bacterial growth or survival. We are continuing with laboratory, greenhouse and field tests and thus far have seen outstanding results. We expect to introduce this product to the marketplace and begin generating revenues from this product in the third quarter of 2009.

Our rust inhibitor products will be undergoing additional tests for efficacy during the summer of 2009. We have significant interest in these products from domestic and international companies as well as the U.S. Government. We believe that the additional tests will prove that our products will be able to penetrate the corrosion control market in a significant manner. At this time we have signed non-disclosure agreements with ten companies that are in various stages of due diligence and testing of our rust inhibitor product line.

In keeping with our mission to bring environment friendly products to market, we have entered into a licensing agreement to market and distribute a line of organic plant and crop nutrients manufactured by Ocean Grown, Inc. The agricultural community is receiving the product line marketed under the name Ocean Solutions, very well. These products are already bringing revenues to Transfer Technology International.

We have three world-class advisors on our Scientific Advisory Board. The Director of the board is Valerie Landrio McDevitt. She is the Director of the Division of Patents and Licensing at the University of South Florida. The other members of the board are Dr. Sandy Shultz, Chief of Radiology at the Key West Regional Hospital, and Dr. David Silver, a Senior Scientist at the Johns Hopkins University Applied Physics Laboratory.

Our Strategic Consulting Board consists of former Tampa Florida mayor Dick Greco and Tampa-based banker Allison Tutwiler. We have engaged the consulting services of Washington, D.C.-based Alcalde and Fay, Racke Consulting Group, James Consulting in London, and Mr. Brett Phillips. This team of experienced, qualified consultants will assist Transfer Technology International in bringing world-class business to commercialize out valuable product assets.

On the regulatory front, we have continued to make our filings in a timely manner and have become eligible to file to have our common stock listing moved from the Pink Sheets to the OTC Bulletin Board. This move should bring more visibility and credibility to our company.

Transfer Technology International was successful in raising approximately $1,500,000 in 2008 to fund product development, marketing, and corporate operations. We have strengthened our balance sheet by reducing debt and improving our cash position during one of the most difficult financial environments in history. We also successfully implemented a corporate stock buyback program.

In February, we formed Organic Products International, a wholly owned subsidiary, for the purpose of being our marketing arm to distribute, sell and license our organic products. We are confident we will increase our portfolio of these type products throughout 2009.

In March we hired Mr. George Merrell as our new Chief Operating Officer and President of the new subsidiary, OPI. Mr. Merrell is an incredible catch for TTI and we're honored to have him on board as an integral part of our management team.

The future is bright for Transfer Technology International. The first quarter of 2009 has just ended and we are already generating revenues. We believe that we are now positioned with great products, patents and marketing agreements to support a profitable year in 2010.

Thanks Again for your continuing support.

Christoph A. Trina
Chairman and CEO

Please visit us on the web at www.ttinternationalcorp.com.

About Transfer Technology International Corp. (TTI)

The company was formulated on the premise of acquiring, procuring and funding of current technologies, research and intellectual properties for the transference of these technologies for commercialization. We intend to generate revenue from a variety of methods including transfer fees, licensing and strategic alliance fees and the sale of intellectual properties.

DISCLAIMER:

This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements that may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding without limitation our intent to raise additional capital and other statements identified by forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "expects," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions that are subject to change.

Contact Information

  • Investor Contact:
    Christoph A. Trina
    Chairman and CEO
    Email Contact
    813-600-4081