AccessKey IP, Inc. Announces Plans to Spin-Off Retail Sales Subsidiary TeknoCreations.ALBUQUERQUE, N.M. -- AccessKey IP, Inc., (Pink Sheets:AKYI) today announced that its Board of Directors has unanimously agreed to spin-off its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , TeknoCreations, into an independent, publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . It is expected that this new entity will be trading sometime in early 2008. TeknoCreations was founded to participate in the explosive growth of consumer electronics and business security needs. TeknoCreations designs high-quality products with attractive pricing to enhance the consumer's favorite electronics products and the expanding security needs of corporate America. They have developed a wireless remote control for iPods as well as inductive charging Inductive charging is a method of charging electrical batteries without the need for direct electrical contact between the batteries and charger. Direct wired contact, known as conductive charging, is normally achieved by moving batteries from a device to charger, or connecting a units for both Nintendo's Wii and Microsoft's X-Box 360. The focus of the company will be to sell products wholesale; through Distributors and direct to Retailers, Etailers and DMRs (Direct Market Retailers). According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. George Stevens Noun 1. George Stevens - United States filmmaker (1905-1975) Stevens , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AccessKey IP, "The independence of TeknoCreations will achieve three main objectives: 1) a greater focus of existing resources within AccessKey IP to design and develop products, 2) a dedicated sales organization in TeknoCreations that will focus exclusively on promoting consumer electronics and security products in the retail market, while at the same time purchasing both finished product and technologies from AccessKey IP, and 3) the ability to raise capital in the investment community for both companies to properly promote their respective business plans. We are giving particular attention to the capital structure of the new entity in order to ensure that AccessKey IP shareholders receive appropriate value in TeknoCreations. We are very excited about this opportunity and we will provide more information as this transaction progresses." About AccessKey IP, Inc. AccessKey IP, Inc. is a developer of cutting-edge technologies and best-of-breed products tailored to address the market opportunities created by the explosive growth of digital communications Transmitting text, voice and video in binary form. See communications. , entertainment-related services and specific consumer electronics platforms. AccessKey IP's patented technologies provide complete access to the coveted cov·et v. cov·et·ed, cov·et·ing, cov·ets v.tr. 1. To feel blameworthy desire for (that which is another's). See Synonyms at envy. 2. To wish for longingly. See Synonyms at desire. "Triple Play" Set Top Box (voice, video and data) and "Quadruple Play" Set Top Box (voice, video, data and wireless) through cable, telecom, satellite and broadband service providers. The Company's AccessKey Home(TM) and portable flash drive-sized AccessKey PC(TM) allow subscribers to "channel surf" streaming "HD Quality" television content (IPtv), navigate the internet, watch Video on Demand (VOD See video-on-demand. VoD - video on demand ) offerings, play video or internet-based games, listen to music, make phone calls (VoIP), video conference, run a full array of computing applications, securely store data and more, all from a single device and service provider network. Forward-Looking Statements This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Those statements include statements regarding the intent, belief or current expectations of AccessKey IP, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. FOR INVESTOR INQUIRIES: Please visit the Company's website www.accesskeyip.com, or contact: Bruce Palmer, 310-734-4254. |
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