ARDEN, NC--(Marketwire - September 13, 2010) - WatchIt Technologies Inc. (
The first company under consideration is an established company that utilizes a patented technology to significantly decrease the fuel consumption of motorized vehicles. It also has the added benefit of reducing carbon outputs into the environment.
The second company under consideration is an established GPS (Global Positioning System) business with several years of experience in both hardware and software and is currently producing revenue. According to the company, it is considered a "green technology" because it assists fleet managers in reducing fuel consumption and at the same time aids in reducing the carbon output of the vehicles by providing data that enables the managers and drivers to reduce idle time and reduction in miles driven.
"Although technically very different, there is a synergy between the two technologies," according to Brian Riley, President of WatchIt Technologies. "Being able to remotely monitor the performance of any fuel saving technology as can be done with a GPS device will add additional credibility to the reported performance results. In the future it may also allow for the general public to watch in 'real time' a vehicle's performance providing complete transparency of the process."
The company plans to capitalize on the management experience of its executive team and to put the necessary controls and fiscal policies in place to help ensure the success of the newly developed companies. According to a company spokesperson, "the potential acquisition of both of these companies will move WatchIt Technologies forward in accomplishing its goals and delivering shareholder value."
WatchIt Technologies is actively seeking companies that have the attributes of being highly innovative and "first in" within their respective sector. Most companies partnering with WatchIt Technologies will have already completed their initial R&D and will need management consultation and financial assistance to take it to the next level and to profitability.
About WatchIt Technologies Inc.:
WatchIt Technologies is an alternative "incubator" for developing and emerging "Green Technology corporations. Its focus is on strategies that are structured to mitigate risk and produce returns in all market environments. Its current investment/development strategy is on direct investments in small/micro-cap public companies that have emerging growth and development and are exclusively involved in some aspect of "Green Technology."
It will offer management consultation to companies that meet its strict criteria and vetting process and align them with individuals and financiers to help them achieve their financial goals and objectives.
Safe Harbor Act: Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact Information:
Contact:
Investor Relations
1-828-483-4131
Website: www.watchittech.com