NEW YORK, July 28, 2011 /PRNewswire/ -- Wanderport Corp.
(OTC MARKETS-PINKSHEETS: WDRP) today announced a new re-affirmed
"Definitive Agreement" commitment for specific market segments and
verticals within the United
States, with Utility Marketing International Inc. (UMI),
formerly Utility Marketing Concepts (UMC).
On July 1st, 2011, Mr.
Robert Simoneau, Wanderport
Corporation's Technical Advisor and Product Licensor, and Mr.
Dave Myers, President of UMI,
attended meetings held at Underwriter's Laboratories' (UL®) offices
in New York City. The purpose of
the meeting was to discuss safety considerations for the upcoming
multi-cavity on demand microwave energy tank-less water heater
(MCMHU). Both, Mr. Simoneau and Mr. Myers also took the opportunity
to discuss the MCMHU's current market potential.
A picture of Mr. Simoneau and Mr. Myers together at
Underwriter's Laboratories' (UL®) offices in New York can be viewed by visiting
www.otcmarkets.com, by entering Wanderport Corporation's symbol
(WDRP) and choosing the "Financials" tab, then selecting Exhibit
"K."
Wanderport is delighted to announce UMI's new re-affirmation of
its commitment and continued enthusiasm for Wanderport's product
offering. UMI's new "Definitive Agreement" includes revised
projected revenue commitments which can be interpreted as follows:
The sum of each year's mean average of best and worst case
scenarios unit sales (692,500 units), multiplied by an approximate
unit cost to distributors of $450
(USD) for a total of $277,000,000
(USD) in projected revenue over five years, which indicates a
significantly increased revenue commitment of $39 million in the near, medium and long term
future of the company. "Meeting with Robert and UL® reinforced my
belief in the technology and the product's relevance in today's
marketplace, as we have a new sense of urgency in getting this to
market without delay," said Mr. Myers.
"We obviously value Dave's years of experience, contacts and
dedication that he brings to Wanderport, as our main US
distributor. Now that we have renewed one another's commitment, we
hope to count on a very long and lucrative relationship as we
approach commercialization," added Mr. Richard Martel, Wanderport's President and
CEO.
Calculations were based on a unit cost to distributor of
approximately $450 (USD) per unit
(not fixed and subject to change to reflect various factors such as
product, application, solution economies of scale or model
specifications, etc., in part of ongoing costing exercises in
cooperation with our distributors, developers, suppliers and
manufacturers).
UMI's "Definitive Agreement" can be viewed by visiting
www.otcmarkets.com and entering Wanderport Corporation's symbol
(WDRP), then choosing the "Financials" tab and selecting Exhibit
"J."
About Utility Marketing International Inc. (UMI) Formerly
Utility Marketing Concepts (UMC):
UMC began as a distributor to the Rural Electric Cooperatives in
1985 and eventually partnered with State Industries, to manufacture
its well known "freedom" brand water heater exclusively distributed
to the Rural Electric Cooperatives and Utilities Market. The rural
electric utilities furnish roughly 40 percent of the electricity to
the households in the USA. For
more information please visit: www.utilitymc.com
About Wanderport Corporation:
Wanderport Corporation holds the worldwide rights to the
microwave energy tank-less water heater technology through its
exclusive Licensing agreement. The technology's founding company,
Pulsar Advanced Technologies Inc. was the proud recipient of the
2005 TIPTA award (TCA; Toronto Construction Association, Innovative
Product and Technology Award), awarded by the National Research Council of Canada recognizing excellence in
product innovation and technology development for the microwave
energy tank-less water heater. Since then, Wanderport
Corporation acquired the exclusive rights retained by its Inventor
and Licensor Mr. Robert Simoneau
also acting as Wanderport's Technical Advisor. Wanderport
Corporation remains focused on developing business, making
investments and acquiring licenses of products and technologies
that deploy "Green" environmentally friendly alternatives, which
reduce water and energy consumption as well as global dependence on
oil.
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.
Visit Wanderport Corporation at:
www.wanderport-ir.com
Email Contact: inquiries@wanderport-ir.com
Telephone: +1 (352) 533-4801
SOURCE Wanderport Corporation