AquaCell Management Extends Its Lock-Up Period.Business Editors RANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--Feb. 5, 2002 AquaCell Technologies Inc. (AMEX AMEX See: 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) ) today announced that its officers and directors are extending the lock-up period on their restricted personal holdings in the company's stock for an additional 90 days, until May 13, 2002. "Although we had no intension in·ten·sion n. 1. The state or quality of being intense; intensity. 2. The act of becoming intense or more intense; intensification. 3. Logic The sum of the attributes contained in a term. of selling this stock at the present time, in order for us to demonstrate our support of our company, we collectively decided to formally extend the lock-up period on our restricted holdings," said James C. Witham, 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. . The original lock-up on pre-IPO issued stock was for a period of one year from the completion of the company's initial public offering, which was consummated Feb. 12, 2001. Introducing AquaCell AquaCell, based in Rancho Cucamonga, manufactures products for water filtration and purification through its two operating subsidiaries, Global Water-Aquacell Inc. and Water Science Technologies 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 Purific(R) 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 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 news 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: the company's ability to continue relationships with customers; the company's ability to offer its products at competitive prices; the company's ability to maintain its 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 the company's ability to use the most current technology for its products. |
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