Zevotek Receives $1.1 Million Ionic Bulb Order
NEW YORK, Oct. 21, 2009 (GLOBE NEWSWIRE) -- Zevotek, Inc. (Pink Sheets:ZVTK)
(Frankfurt:T5V1), a worldwide direct marketer and distributor of innovative
personal and home care items, announced today the company received an $1.1
million order to buy Ionic Bulbs. The order calls for Zevotek to supply a
distributor in Asia with Ionic Bulbs for sale in Japan and Korea. Zevotek is
pursuing a global marketing initiative for the Ionic Bulb and the order is the
first Zevotek has received for the Asian market. Today's announcement follows
Zevotek's September 15 announcement of a shipment of Ionic Bulbs to Zevotek's
German distributor, MediaShop AG, a direct marketer to nearly 100 million people
in Germany, Switzerland and Austria. Zevotek plans to sell the Ionic Bulb in the
U.S. starting in November using a marketing campaign based on a new 2-minute TV
infomercial.
Commenting on the order, Zevotek's CEO, Adam Engel, said, "The order is a major
development in Zevotek's global marketing initiative. The Japanese and Korean
markets offer a huge selling opportunity and I believe are the best strategic
starting point for us in Asia. The order confirms for me the global appeal of
our Ionic Bulb. Our simple message travels well: purifying the air in your home
and saving energy is as simple as changing a light bulb."
The Ionic Bulb is designed for consumer use by combining the performance
features of ionic air cleaning technology with those of a 10,000-hour reduced
energy use compact fluorescent light bulb (CFL). According to ENERGY STAR(R), a
joint program of the U.S. Environmental Protection Agency and the U.S.
Department of Energy, a qualified CFL lasts about 10 times longer than an
incandescent bulb, uses 75 percent less energy, saves about $30 over its
lifetime and pays for itself in about 6 months. ENERGY STAR(R) said earlier this
year that using less energy helps reduce air pollution and greenhouse gas
emissions from power plants.
The $1.1 million order calls for Zevotek to supply the distributor with samples
of Zevotek's standard 110 volt and 240 volt versions of the 15 watt and 23 watt
Ionic Bulbs. Zevotek offers different versions of the Ionic Bulb to satisfy the
technical specifications and consumer preferences of the global marketplace. The
distributor is undertaking to gain any regulatory approvals needed to sell the
Ionic Bulb in the markets contemplated. The order calls for the distributor to
finance their purchase order using bank letters of credit. The order permits the
distributor certain flexibility including the timing of shipments, quantities of
Ionic Bulbs for each shipment and the voltage and wattage types of Ionic Bulbs
to be shipped. The distributor is permitted under terms of the order to not
request any shipment of the Ionic Bulb. The order calls for the distributor to
begin requesting shipments of the Ionic Bulb during the first calendar quarter
of 2010. The prices set forth in the order received and any additional order the
distributor may place in 2010 is not subject to change. Zevotek has not yet
directly discussed the order with the manufacturer of the Ionic Bulb.
About the Company:
Zevotek, Inc. plans to market and sell a range of innovative personal and home
care items. Zevotek has a license to sell an energy saving compact fluorescent
light bulb named the Ionic Bulb. The Company plans to market the Ionic Bulb
through TV infomercials, catalogs, magazines and major U.S. retail and specialty
stores and the Internet. Zevotek's Ionic Bulb infomercial airs on
www.asseenontv.com and the Company's www.zevo-tek.com website.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: Forward-looking statements in this release with respect to the Zevotek,
Inc.'s business, financial condition and results of operations, as well as
matters of timing and effectiveness of marketing the Ionic Bulb are subject to
risks and uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements, including, but not
limited to, certain delays beyond Zevotek, Inc.'s control with respect to market
acceptance of their products, whether financing will be available, the plans for
Zevotek, Inc. to market and sell products as well as certain other risk factors
which are and may be detailed from time to time in Zevotek, Inc.'s filings with
the Securities and Exchange Commission.
This press release contains forward-looking statements. The words or phrases
'may,' 'intends,' 'expects,' 'estimate,' 'indicate,' 'plans,' 'anticipates,'
'could,' 'if,' 'will,' 'should' or similar expressions are intended to identify
'forward-looking statements.' Actual results could differ materially from those
projected in forward-looking statements as a result of a number of risks and
uncertainties. Statements made herein are as of the date of this press release
and should not be relied upon as of any subsequent date. Zevotek, Inc. cautions
readers not to place undue reliance on such statements. Unless otherwise
required by applicable law, Zevotek, Inc. does not undertake, and Zevotek, Inc.
specifically disclaims any obligation to update any forward-looking statements
to reflect occurrences, developments, unanticipated events or circumstances
after the date of such statement.
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CONTACT: Zevotek, Inc.
Adam Engel
201-394-8684
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