HUNTINGTON BEACH, CA--(Marketwired - Apr 2, 2014) - W Technologies, Inc. (PINKSHEETS: WTCG) (www.wtechnologies.biz) announced today that its Joint Venture Partner, 1World Direct Ltd. Hong Kong, has signed an Agent Agreement with PT Kartu Global Bersama of Indonesia. In addition, 1World Direct has opened marketing offices in Indonesia.
Indonesia is the most populous and geographically largest country in South-East Asia. It has also the second largest migrant worker population in the region, reaching over 1,000,000 placements in 2013. 1World Direct Ltd., with the signing of the Agent agreement with PT Kartu Global creates and immediate entry and foot print into the Indonesia remittance market.
"The signing of the Agent Agreement with 1World Direct Ltd. to market its worldwide global payments solutions with PT Kartu Global Bersama represents a significant step forward and providing our Indonesia Workers and the Manning Companies the best possible solutions for their remittance programs. We welcome 1 World Direct into our offices and look forward to a prosperous and successful relationship," stated I. Ketut Purna, President of PT Kartu Global Bersama.
Gary Koelsch, President of W Technologies, stated, "This new agreement greatly expands our opportunities to market our wide variety of products and services and brings us closer to realizing our corporate mission as a global marketing company."
Mr Koelsch also disclosed that the terms of the Joint Venture Agreement between W Technologies, Inc. and 420 Innovations LLC have not been fulfilled and the relationship was not completed to the satisfaction of management of W Technologies. As a result, W Technologies will no longer have any relationship with 420 Innovations LLC.
About W Technologies, Inc.
W Technologies, Inc. (www.wtechnologies.biz), whose stock is publicly traded under the symbol (PINKSHEETS: WTCG), is a diversified holding company with the mission to develop, manage and finance emerging companies. W Tech will be involved in the development of new social media and digital advertising technologies, on-line shopping and payment solutions, new environmentally-safe oil and gas recovery technologies, new clean water technologies, financial services involving residential and commercial real estate and other emerging markets. The Company expects to bring a paradigm shift in the use of these new technologies in the respective business sectors and to develop new methods to finance its affiliated companies. Through its subsidiaries and affiliates with their experienced personnel, W Tech will seek to grow through acquisitions, joint marketing arrangements and organic growth in emerging markets.
About 1World Direct Ltd.
1World Direct Ltd. is a Hong Kong corporation and Joint Venture Partner with W Technologies Inc. that provides global financial solutions in partnership with emerging technologies, effective positioning and unique, global marketing strategies. 1World Direct Ltd.'s global marketing strategies also provide turnkey sales and development programs for the products and services the company represents.
Precautionary and Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with OTC Markets, Inc. You are further cautioned that stocks of smaller companies like W Technologies, Inc. are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment.