AquaCell Extends Pay Date For Spin Off.RANCHO CUCAMONGA Rancho Cucamonga (răn`chō k 'kəmäng`gə), city (1990 pop. 101,409), San Bernardino co., S Calif. , Calif. -- AquaCell Technologies (AMEX AMEXSee: American Stock Exchange :AQA AQA Assessment and Qualifications Alliance (UK) AQA Assessment and Qualifications Alliance AQA Any Question Answered AQA American Quality Assessors (India Pvt Ltd) ) announced today that it has pushed back the payment date for the distribution of the shares of Aquacell Water, Inc. to coincide with the effectiveness of the Aquacell Water registration statement, which is expected to be filed with the Securities and Exchange Commission within the next 45 days. Karen Laustsen, President of AquaCell Technologies, said, "In consultation with and at the recommendation of the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. and Depository Trust Company Depository Trust Company (DTC) DTC is the world's largest central securities depository. It accepts deposits of over 2 million equity and debt securities issues (valued at $23 trillion) from over 65 countries for custody, executes book-entry deliveries (valued at over $116 trillion , we agreed to extend the payment date. We believe this extension is in the best interest of all parties." In December 2004, the Company announced it was spinning off its Aquacell Water subsidiary to AquaCell Technologies stockholders, who will receive one share of common stock in Aquacell Water for every share of common stock held in AquaCell Technologies. AquaCell Technologies has been trading with "due bills" since the record date, whereby the seller owes the spin-off shares to the buyer, and will continue to do so until the AMEX sets a new ex-dividend date Ex-dividend date The first day of trading when the buyer of a stock is no longer entitled to the most recently announced dividend payment ( i.e. the trade will settle the day after the record date, too late for the buyer to appear on the shareholder record and receive the dividend. in accordance with the new payment date, both of which will be announced at the appropriate time. INTRODUCING AQUACELL AquaCell, based in Rancho Cucamonga, CA, through its Aquacell Media, Inc. operating subsidiary, installs its patented self-filling Aquacell 1000 Bottled Water Cooler Systems free of charge into various locations, including retail establishments. Aquacell Media retains ownership of the coolers, and revenue is generated through the sale of targeted advertising on the band of the cooler's permanently attached five-gallon bottle of products and/or services pertinent to the location, similar to the concept of billboard advertising. The Company also manufactures products for water filtration and purification through its two operating subsidiaries, Water Science Technologies, Inc. and Global Water-Aquacell, Inc. Its products address various water treatment applications for industrial, commercial, institutional and residential applications. These applications range from providing purified drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. -- through its point-of-use patented self-filling water cooler and production of water bottling plant equipment -- to processing water for ultra-pure purposes, such as micro-chip and pharmaceutical manufacturing. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Under 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. Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Forward-looking statements include, but are not limited to, statements about: our ability to continue relationships with customers; our ability to offer our products at competitive prices; our ability to maintain our listing on the American Stock Amex; and our ability to use the most current technology for our products. |
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