NW Tech Capital, Inc. Highlights This Year's Accomplishments and CEO's Forecast for 2009
December 02 2008 - 9:45AM
Marketwired
NW Tech Capital, Inc. (OTCBB: NWTT) Highlights for 2008 were
many and forecast for 2009 looks even better.
Our accomplishments for 2008
Teledigit accomplishments
-- On June 30, 2008 Teledigit became a Select Certified Registered
Partner with Cisco Systems, opening up a whole new market for Teledigit
products and services.
-- On July 7, 2008 Teledigit completed a Major installation of a Nortel
switch for a Large Health Care Provider in the Northwest, establishing
itself as a company that can not only handle the small to medium size
businesses, but can also handle the larger businesses Telecom needs.
-- Also in July, 2008 Teledigit started offering the Vertical
Communications WAVE IP 2500 VoIP PBX systems which deliver new generation
enterprise-level communications capabilities at a small business price.
During July Teledigit installed 3 of these new systems opening up a new
business segment for Teledigit.
-- On August 20, 2008 Teledigit became an Adtran Advantage Partner,
reselling the full line of data networking, telecom and wireless products
Adtran offers.
-- September 9, 2008, July and August revenues for Teledigit where
announced and Teledigit revenues were up by 12.5% for the same period the
previous year.
-- November 7, 2008 NWTT files its quarterly 10Q, announcing its revenues
from the acquisition exceeding $500,000 for the 3rd quarter 2008.
China accomplishments
-- February 21, 2008, the Board of Directors of NWTT approved sending a
delegation to China to seek out merger and acquisition opportunity.
Targeting companies in China that have approximately $5,000,000 in annual
revenues, EBIDTA of in excess of $500,000 or more and a 5 year history of
operations. Also, looking for a professional management team in place with
a proven business line.
-- April 24, 2008, NW Tech Capital, Inc. announced that it has
successfully incorporated a new Hong Kong/China company effective April 17,
2008. The new company is NW Tech Capital Group (Hong Kong) Limited with
registration number 1228097. This company is a subsidiary of NWTT and will
be used as a management company to bridge the gap between NWTT and possible
mergers and acquisitions in China.
-- August 19, 2008, NW Tech Capital, Inc., announced that it has entered
into a Letter of Intent to acquire 51% of the controlling shares of Zhuhai
Jialun Guangcai Chain Drugstore Co., Ltd. ("ZJG Drugstores"). Although this
purchase was not completed the company has made many valuable steps into
entering the China market and believes it will have future success in this
market in 2009. NWTT is still working on a joint venture with the ZJG
Drugstores.
-- October 9, 2009, NW Tech Capital announced the change in Direction
with ZJG Drugstores to enter into a joint venture to develop new
distribution centers for ZJG Drugstores.
NW Tech Capital accomplishments
-- In January 2008 NWTT announced a purchase agreement signed with
Teledigit Inc., to purchase 100% of Teledigit Inc., pending an audit of
their financials on or before July 31, 2008.
-- June 12, 2008 the audit on Teledigit was completed ahead of schedule.
-- On June 17, 2008 the deal to purchase Teledigit Inc. was completed 45
days ahead of schedule.
-- On August 12, 2008, NWTT announced a settlement with the SEC for
violations dating back to 2002-2005 which did not involve the current
management of NWTT. But management was able to negotiate a settlement with
the SEC, although the settlement provides for disgorgement in the amount of
$5,330,198, plus prejudgment interest thereon in the amount of $1,502,535
for a total amount of $6,832,733, it specifically states that the Court is
not ordering the Company to pay a civil penalty and the payment of all
disgorgement and pre-judgment interest thereon is waived. Whereby saving
the company nearly $7 million and allowing it to move on with its current
business plans.
-- On November 11, 2008 NWTT purchased another subsidiary "Microholdings
US (PINKSHEETS: MCHU)" a publicly traded pink-sheet trading under the
symbol "MCHU." NWTT is currently seeking a merger or acquisition candidate
for Microholdings.
Outlook for the future from CEO James Wheeler
James Wheeler states: "I believe there is a bright future for
NWTT in 2009. We have laid a lot of ground work in 2008 that will
be needed to make us more successful in 2009. The acquisitions of
both Teledigit and Microholdings US, should make NWTT attractive to
new investments and new shareholder interest in 2009. We plan to
continue to grow Teledigit through added services and working with
our new vendors this year; such as Cisco, the new Vertical products
like the WAVE IP 2500 VoIP systems and new added network and data
services. We believe Teledigit has great growth possibilities in
2009 and look forward to helping them reach their fullest
potential." He continues: "With the acquisition of Microholdings US
we are looking for a new source of revenue for NWTT. We plan to use
MCHU to seek new acquisition or merger candidates. We are currently
negotiating deals for MCHU and will be announcing these deals as
agreements are signed. We will also continue to work on our China
connections for mergers and acquisitions to increase the value of
NWTT."
Mr. Wheeler also states: "We are looking forward to the new
year. Many great possibilities are in our grasp and we will be
working hard to complete each and every deal for advancement of NW
Tech Capital and its valued shareholders. We hope that the market
will soon realize that the company is currently undervalued and
respond accordingly. I would like to thank all of our shareholders
for their support in 2008 and wish them all a very Merry Christmas
and a very prosperous new year with NWTT."
About NW TECH CAPITAL, INC.
NW Tech Capital is a holding company with interests in areas of
telecommunications, data management, information systems and public
safety communication and response solutions. NW Tech trades on the
OTC Bulletin Board under the ticker symbol NWTT. For more
information on NW Tech Capital or Teledigit contact
investor@nwtechcapital.com or visit web site at
www.teledigitinc.com.
Certain Information
Investors are cautioned that certain statements contained in
this document as well as some statements in periodic press releases
and some oral statements of NWTT officials are "Forward-Looking
Statements": within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "Act"). Certain statements in
this news release may contain forward-looking information and are
based on Management's current expectations, estimates and
projections subject to change. Words such as "anticipates,"
"expects," "intends," "plans," "targets," "projects," "believes,"
"seeks," "estimates" and similar expressions are intended to
identify such forward-looking statements. These statements are not
guarantees of future performance and are subject to certain risks,
uncertainties and other factors, some of which are beyond our
control and are difficult to predict. Therefore, actual outcomes
and results may differ materially from what is expressed or
forecasted in such forward-looking statements. You should not place
undue reliance on these forward-looking statements. Unless legally
required, the Company undertakes no obligation to update publicly
any forward-looking statements, whether as a result of new
information, future events or otherwise. The Company disclaims any
information that is created or distributed by any outside party and
endorses only information that is communicated by its official
Press Releases.
Contact Information: NW Tech Capital, Inc. Vancouver, WA James
Wheeler Chairman & CEO (Tel) 360-823-4343 E-mail: Email
Contact
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