Red Branch Technologies, Inc. Announces Corporate Update
March 02 2010 - 8:31AM
Red Branch Technologies, Inc. (Pink Sheets:RBTI) issued a corporate
update today in order to keep shareholders involved with the
company's latest activities.
With regards to the internal investigation the company
previously announced on December 2, 2009, Red Branch Technologies
Corporate counsel, Robert J. Flynn, Jr. Esq. stated the following:
"I have completed the investigation and find no involvement by the
company or those affiliated with it in any way whatsoever
concerning unusual and irregular trading pattern of the company
stock. I am maintaining the documentation relating to the
investigation in confidential status should any enforcement or
investigatory body wish to review it."
In other company news, Red Branch Technologies was unable to
finish conducting its due diligence as part of the LOI agreement
previously announced with Green Power Technologies, Inc. due to
reasons beyond the control of the management. Although the initial
LOI agreement is now voided, both companies will continue
discussions regarding a potential different arrangement.
"We are continuing to move our company forward and in fact have
been quite busy over the past few months regarding potential
acquisition targets, new contracts, strategic partners and much
more," said Jeff Sirianni, CEO of Red Branch Technologies,
Inc. "We anticipate announcing more updates very soon as we
stay focused on generating revenues and building shareholder
value."
About Red Branch Technologies, Inc.:
Red Branch Technologies provides sustainable-energy-powered
solutions meeting commercial, industrial, municipal and federal
requirements for site security, materials control, emergency
communications, water purification and similar on-site
applications. The company's ability to simultaneously manage
multiple renewable energy sources allows Red Branch Technologies
powered solutions to stay up and running longer than the
competition. Mobility is another differentiating aspect of Red
Branch Technologies' solutions.
The company also offers a unique set of security products for
military and law enforcement applications where cost/performance
represents a critical selection factor. The application areas
include Explosive Ordinance Disposal (EOD) robots, vehicular
inspection and Unmanned Aerial Vehicles (UAVs).
More detailed information can be found at
www.RedBranchTech.com.
Safe Harbor: This letter contains certain forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended and Section 21E of the Securities Exchange Act
of 1934, as amended, which are intended to be covered by the safe
harbors created thereby. Investors are cautioned that all
forward-looking statements involve risks and uncertainty, including
without limitation, the ability of the Company to successfully
implement its turnaround strategy, changes in costs of raw
materials, labor, and employee benefits, as well as general market
conditions, competition and pricing. Although the Company believes
that the assumptions underlying the forward-looking statements
contained herein are reasonable, any of the assumptions could be
inaccurate, and therefore, there can be no assurance that the
forward-looking statements included in this letter will prove to be
accurate. In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as representation by the Company
or any other person that the objectives and plans of the Company
will be achieved. In assessing forward-looking statements included
herein, readers are urged to carefully read those statements. When
used in the Annual Report on Form 10-K, the words "estimate,"
"anticipate," "expect," "believe," and similar expressions are
intended to be forward-looking statements.
CONTACT: Cervelle Group
Investor Relations
David Donlin
407-614-5959 ext. 223
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