AquaCell Files Form 10 Registration For Proposed Spin-Off of Its Aquacell Water Subsidiary.RANCHO CUCAMONGA Rancho Cucamonga (răn`chō k  'kəmäng`gə), city (1990 pop. 101,409), San Bernardino co., S Calif. , Calif. -- AquaCell Technologies, Inc. (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 filed a Form 10 Registration Statement with the Securities and Exchange Commission (SEC) on behalf of its Aquacell Water, Inc. subsidiary, to allow it to become a 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. . AquaCell Technologies has two operating subsidiaries, Aquacell Water, which markets and manufactures various water filtration and purification products for municipal, industrial and commercial use, and AquaCell Media, which sells advertising on its patented self-filling water coolers installed in retail locations. We anticipate setting a record date for the distribution of Aquacell Water's stock near the end of the SEC review process. Record holders as of the payment date will receive one share of common stock in Aquacell Water, Inc. for every share of common stock held in AquaCell Technologies, Inc. Mr. James C. Witham, Chief Executive Officer of AquaCell Technologies, Inc., stated, "We believe that a separation of the Aquacell Water subsidiary would provide both companies with the opportunity to focus exclusively on their respective businesses and their unique opportunities, as well as enable each company to enhance its strategic, financial and operational flexibility." Mr. Witham continued, "We anticipate hiring additional key personnel in Aquacell Water to augment its penetration into the rapidly expanding water industry." About AquaCell Technologies: AquaCell, based in Rancho Cucamonga, Calif., through its Aquacell Water, Inc. subsidiary, manufactures products for water filtration and purification. Its products address various water treatment applications for municipal, industrial, commercial and institutional 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. to processing water for industrial and commercial manufacturing. Through its AquaCell Media, Inc. operating subsidiary, the Company 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. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " 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 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 our ability to use the most current technology for our products. |
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