SCOTTSDALE, AZ -- (Marketwire) -- 09/28/11 -- MediaTechnics Corporation (PINKSHEETS: MEDT) is pleased to announce that it has entered into a Letter of Intent to acquire BD Products LLC of Mesa, Arizona ('BD Products').
BD Products was formed for the purposes of this transaction and owns the designs, molds and other intellectual property rights to a unique product designed by its owners that has worldwide residential and/or commercial use. This product has already generated revenue approaching $100,000 for its owners with profit margins approaching 50% that could, with sufficient volume, exceed 66%.
BD Products and/or MEDT intend to file a patent application for this product in the very near term. Concurrently, BD Products has stated that it is in the process of negotiating an approximately $1,000,000 initial purchase order with a major international retail chain.
Furthermore, BD Products has stated that it is currently awaiting final packaging design approval and hopes to complete this process and submit its patent application within thirty to sixty days. MEDT hopes to complete the acquisition within the next fourteen days.
Henri Atamian, President of MEDT, stated, 'I am truly excited about this opportunity, however the ongoing patent process prohibits public disclosure before the patent application is submitted. That being said, I truly believe that this product has the potential to be in most every home and many businesses as well.'
Further detail will be provided to shareholders as soon as the patent application has been submitted.
Notes about forward-looking statements
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.
Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995 (the 'Act'), and it is the Company's intention and belief that all such statements are covered by the safe harbors created by the Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied.
Forward-looking statements may be identified by words such as 'estimates,' 'anticipates,' 'projects,' 'plans,' 'expects,' 'intends,' 'believes,' 'may,' 'should' and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.