FLI Charge Will
Expand Charging and Power Ecosystem Within the Automotive Industry
with Papp Plastics as Official Auto Supplier
NEW YORK, NY - September 13, 2016
- FLI Charge, a technology company that offers the fastest and most
powerful charging solution for virtually all mobile devices
including smartphones and tablets, today announced its official
partnership with Papp Plastics & Distributing Ltd., a tier-1
and tier-2 auto supplier. Papp Plastics currently manufactures an
assortment of plastic products production parts
and OEM accessories to most of the major OEMs in North America.
The collaboration with Papp
Plastics is just one example of FLI Charge's efforts to expand the
FLI Charge ecosystem, delivering easier access to power and
charging to major markets. As part of the partnership, Papp
Plastics will incorporate FLI Charge's technology into various
locations in vehicles, and into other auto accessories. With over
25 years of experience, Papp Plastics is acknowledged as a leader
in plastic molding manufacturing. FLI Charge and Papp Plastics
anticipate providing a wide array of demos at the SEMA Show this
November.
"FLI Charge's technology is unlike
any we've seen. Its ability to provide power at much higher levels,
combined with its relatively low cost has already ignited interest
with the auto makers. It is crucial for us that our clients have
access to the latest in technology, especially as it relates to
in-car charging, which is a constant need in the automotive space.
Now, people will have the ability to charge multiple devices on one
charging surface regardless of their positioning," said Michael
Papp, President of Papp Plastics & Distributing Ltd.
"Automotive is one of the most
important target markets for our company," said Cliff Weinstein,
President of FLI Charge, "The partnership we are announcing today
will make FLI Charge's technology available to Papp's client list,
which consists of nearly every auto manufacturer in the world, at
the OEM level, and will play a significant role in growing the FLI
Charge ecosystem. Papp's expertise in developing interior consoles,
plastics and molding, makes the potential to develop new products
with their team an exciting opportunity," Mr. Weinstein
concluded.
About FLI
Charge
Based in New York, FLI Charge designs, develops, manufactures and
markets wireless conductive power and charging solutions. Its
patented technology is the only wireless power solution that is
fully interoperable between different types of devices. The FLI
Charge family of products are easily integrated into your everyday
life and simple to use. For more information, visit:
www.FLICharge.com
About PAPP
Plastics
PAPP Plastics & Distributing Ltd. is an award winning
Canadian-based plastics parts manufacturer headquartered in
Windsor, Ontario. Operations are in Canada, South America,
Mexico and China. Established in 1991, PAPP Plastics is a
tier-one and tier-two supplier for the world's major automobile
companies. PAPP Plastics manufactures an assortment of plastic
parts/ assemblies and molds for both automotive interiors and
exteriors; this includes large painted "Class A" surface parts.
Primary manufacturing capabilities include injection molding,
as well as sonic and vibration welding, painting and secondary
assembly operations. Its press tonnage ranges from 150T to
3000T for injection and specializes in rotary two shot molding of
multi material applications. For more information, visit:
www.PappPlastics.com
About FORM
Holdings Corp.
FORM Holdings Corp. (NASDAQ: FH)
is a publicly held diversified holding company that specializes in
identifying, investing in and developing companies with superior
growth potential. FORM's current holdings include Group
Mobile, FLI Charge, Infomedia and intellectual property
assets. Group Mobile is a provider of rugged, mobile and
field-use computing products, serving customers worldwide.
FLI Charge designs, develops, licenses, manufactures and markets
wireless conductive power and charging solutions. Infomedia
is a leading provider of customer relationship management and
monetization technologies to mobile carriers and device
manufacturers. FORM Holdings' intellectual property division
is engaged in the development and monetization of intellectual
property. To learn more about Form Holdings Corp., visit:
www.FormHoldings.com.
Forward-Looking
Statements
This press release includes
forward-looking statements, which may be identified by words such
as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative
of such terms, or other comparable terminology. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ materially from the
forward-looking statements contained herein. Statements in
this press release regarding the proposed merger between FORM and
XpresSpa; the expected timetable for completing the transaction;
the potential value created by the proposed merger for FORM's
stockholders and XpresSpa's equity holders; the potential of FORM's
business after completion of the merger; XpresSpa's projected
revenue, the ability to raise capital to fund operations and
business plan; the continued listing of FORM's securities on the
Nasdaq Capital Market; market acceptance of FORM products; the
collective ability to protect intellectual property rights;
competition from other providers and products; FORM's management
and board of directors after completion of the Merger; and any
other statements about FORM's or XpresSpa's management teams'
future expectations, beliefs, goals, plans or prospects constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. There are a number of
important factors that could cause actual results or events to
differ materially from those indicated by such forward-looking
statements, including, but not limited to: the risk that FORM and
XpresSpa may not be able to complete the proposed transaction; the
inability to realize the potential value created by the proposed
merger for FORM's stockholders; FORM's inability to maintain the
listing of its securities on the Nasdaq Capital Market after
completion of the merger; the potential lack of market acceptance
of FORM's products; FORM's inability to monetize and recoup FORM's
investment with respect to assets and other businesses that that
were acquired or will be acquired in the future; general economic
conditions and level of information technology and consumer
electronics spending; unexpected trends in the mobile phone and
telecom computing industries; the potential loss of one or more of
FORM's significant Original Equipment Manufacturer ("OEM")
suppliers, the potential lack of market acceptance of FORM's
products; market acceptance, quality, pricing, availability and
useful life of FORM's products and services, as well as the
mix of FORM's products and services sold; potential
competition from other providers and products; FORM's inability to
license and monetize FORM's patents, including the outcome of
litigation; FORM's inability to develop and introduce new products
and/or develop new intellectual property; FORM's inability to
protect FORM's intellectual property rights; new legislation,
regulations or court rulings related to enforcing patents, that
could harm FORM's business and operating results; FORM's inability
to retain key members of its management team; and other risks and
uncertainties and other factors discussed from time to time in our
filings with the Securities and Exchange Commission ("SEC"),
including FORM's Annual Report on Form 10-K for the year ended
December 31, 2015 filed with the SEC on March 10, 2016.
Investors and stockholders are also urged to read the risk factors
set forth in the proxy statement/prospectus carefully when they are
available. FORM expressly disclaims any obligation to publicly
update any forward-looking statements contained herein, whether as
a result of new information, future events or otherwise, except as
required by law.
Important
Additional Information Filed with the SEC
This communication does not
constitute an offer to sell or the solicitation of an offer to buy
any securities of FORM, or XpresSpa or the solicitation of any vote
or approval. In connection with the proposed transaction, FORM
filed with the SEC a Registration Statement on Form S-4 containing
a proxy statement/prospectus. The proxy statement/prospectus
contains important information about FORM, XpresSpa, the
transaction and related matters. FORM will mail or otherwise
deliver the proxy statement/prospectus to its stockholders when it
will be declared effective by the SEC. Investors and security
holders of FORM and XpresSpa are urged to read carefully the proxy
statement/prospectus relating to the proposed merger (including any
amendments or supplements thereto) in its entirety because it
contains important information about the proposed transaction.
Investors and security holders of
FORM will be able to obtain free copies of the proxy
statement/prospectus for the proposed merger and other documents
filed with the SEC by FORM through the website maintained by the
SEC at www.sec.gov.
FORM and XpresSpa, and their
respective directors and certain of their executive officers, may
be deemed to be participants in the solicitation of proxies in
respect of the transactions contemplated by the merger agreement
between FORM and XpresSpa. Information regarding FORM's directors
and executive officers is contained in FORM's Annual Report on Form
10-K for the fiscal year ended December 31, 2015, which was filed
with the SEC on March 10, 2016. Information regarding XpresSpa's
directors and officers and a more complete description of the
interests of XpresSpa's directors and officers in the proposed
transaction is available in the proxy statement/prospectus that was
filed by FORM with the SEC in connection with the proposed
transaction.
Contacts:
FORM Holdings
212-309-7549
info@FORMHoldings.com
FLI Charge
212-309-7549
info@FLICharge.com
PAPP Plastics &
Distributing Ltd.
519-734-1112
sales@PappPlastics.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: FORM Holdings Corp. via Globenewswire
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