SOURCE: WatchIt Technologies Inc

October 01, 2010 08:31 ET

WatchIt Technologies Inc Completes Initial Negotiations for the Purchase of Patented "Fuel Reformation" Company

Initial Test Results Yield More Than a 20% Increase in Fuel Economy

ARDEN, NC--(Marketwire - October 1, 2010) -  WatchIt Technologies Inc. (PINKSHEETS: WTCT) announced today that the Company has completed the initial negotiations for the purchase of Air Pure Systems Development (APSD). The preliminary contract is for the purchase of 100% of the outstanding stock in Air Pure Systems Development for an undisclosed amount of stock, cash and other considerations.

According to a company spokesperson, "Air Pure Systems Development is an established company that utilizes a patented technology to significantly decrease the fuel consumption of motorized vehicles and has the added benefit of reducing carbon outputs into the environment."

Air Pure Systems has developed a unique technology that can significantly enhance the combustion process in gasoline engines. "The simplest explanation is that the fuel flows through our patent pending device and is 'reformed' which allows the fuel to burn more efficiently," stated Rob Ryon, President of Air Pure Systems Development. "The reformed fuel directly yields more miles per gallon and the exhaust emissions are reduced correspondingly."

"The prototype of the device has achieved greater than 20% improvement in fuel economy in its initial testing at an EPA certified facility," stated Brian Riley, President and CEO of WatchIt Technologies. "Additional independent government certified testing will be scheduled to verify the previous results."

"We are extremely happy with the addition of Air Pure Systems Development as our first major venture. We believe that with the proper controls, testing and marketing that WatchIt Technologies can bring to the table to assist Air Pure Systems Development that it will be a technology that has worldwide potential," stated Brian Riley, President and CEO of WatchIt Technologies.

According to Rob Ryon, President of Air Pure Systems Development, "The joining of our two companies to further the development of the 'fuel reformer' is a much needed step in taking this very important technology to market. Anything that can reduce our dependence on fossil fuels will not only help our economy recover, but make our country safer by lessening our dependence on foreign oil."

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