Red Branch Technologies, Inc. Announces Completion of Its Spin-Off
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ASHBURN, VA, Jun 26 (MARKET WIRE) --
Red Branch Technologies, Inc. ("Red Branch-Delaware") (PINKSHEETS: RBTI)
today announced that the spin-off of its wholly owned subsidiary Red
Branch Technologies, Inc., a Nevada corporation ("Red Branch-Nevada"),
has been completed, making Red Branch-Nevada an independent private
company. Red Branch-Nevada will continue to focus on its core software
solutions business including its mTravel and my|mTravel business travel
automation software.
"Through the completed spin-off of our subsidiary we have positioned our
publicly held company Red Branch Technologies, Inc. to enter the mobile
security and renewable power solutions markets," said W. Doug Foran, Chief
Executive Officer of Red Branch Technologies, Inc. "Based on a series of
partnerships we have developed that will be announced shortly, we will
implement a new business model for bringing to market point-of-need
solutions and products that utilize renewable energy to gain a distinct
business advantage. In addition, part of our new business focus will also
include site security, emergency communication networks along with forward
base operations. We will announce more details soon."
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.
Investor Relations
David Donlin
Cervelle Group
Phone: 407-614-5959 ext. 223
Copyright 2009, Market Wire, All rights reserved.
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