SOURCE: WanderPort Corporation

March 16, 2010 08:00 ET

Wanderport Provides Recap Subsequent to US LOI

NEW YORK, NY--(Marketwire - March 16, 2010) - Wanderport Corp. (PINKSHEETS: WDRP) announced today its recapitulation of sales commitments following the recent announcement of its intent to conclude a sales and purchase agreement with a distributor in the United States.

Recent signed agreements:

  • The Australian distributor's five year total projected revenue commitment is roughly $124,656,810 USD.
  • The Italian distributor's five year total projected revenue commitment is roughly $46,665,000 USD (previous total was erroneously announced as an average per year within five years rather than the total projected revenue at the end of five years).
  • The Turkish distributor's five year total projected revenue commitment is roughly $56,925,000 USD (previous total was erroneously announced as an average per year within five years rather than the total projected revenue at the end of five years).
  • The Eastern-European distributor's five year total projected revenue commitment is roughly $27,900,000 USD.

Wanderport has total outstanding shares of 642,500,940 and is projecting revenues in the area of $256,146,810 over five years excluding potential revenue from the United States. The company believes this would translate to a projected $.40 revenues per share over that same period not including North-American sales revenues. At a multiple of 5 times sales, revenue per share would be equivalent to $2.00 representing a fair and sustainable shareholder value.

During recent discussions with the prospective US distributor, conservative preliminary revenue estimates are in the range of $190,000,000 USD over five years. Wanderport hopes to review projected revenues taking into account the US market once the company is able to announce a definitive agreement with a distributor in the United States on or prior to March 19th, 2010.

About Wanderport Corporation: Wanderport Corporation is a holding and business development company making investments, acquiring licenses and deployment of environmentally friendly "Green" technologies such as, primary alternative, renewable energy and energy saving products namely Pulsar's microwave energy tank-less water heater, which reduces water and energy consumption as well as global dependence on oil. Pulsar Advanced Technologies Inc. was the proud recipient of the 2005 TIPTA award (TCA; Toronto Construction association, Innovative Product and Technology Award), recognizing excellence in innovation in product or technology development, or its application of its microwave energy tank-less water heater.

Important Information About Forward-Looking Statements: Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts.

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