AquaCell Technologies Inc. Announces Investment Banking Agreement with Kirlin Securities.Business Editors RANCHO CUCAMONGA Rancho Cucamonga (răn`chō k  'kəmäng`gə), city (1990 pop. 101,409), San Bernardino co., S Calif. , Calif.--(BUSINESS WIRE)--May 22, 2001 AquaCell Technologies Inc. (AquaCell) (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 it has signed an investment banking agreement with Kirlin Securities Inc., (Kirlin) a 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. of Kirlin Holdings Inc. (Nasdaq:KILN) to position AquaCell in financial markets and to give investors a clearer picture of the direction and potential growth of the company. "In our constant endeavor to increase shareholder value, we are pleased to announce this investment banking arrangement with Kirlin," said James C. Witham, chairman and 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 AquaCell. "In our selection process for an investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. we chose Kirlin because of their longevity in the business since 1988, the fact that they are a public company, their desired focus to grow their retail business and the fact that Kirlin's CEO, David O. Lindner, personally has strong positive feelings of the water industry, the company's products and the company's management team." Witham continued, "We believe Kirlin's experience in investment banking will help provide visibility for AquaCell to the investment community in view of the fact that they have a national presence with multiple offices coast to coast. We are delighted that our management teams are compatible and comfortable working with one another." Under the terms of the agreement, Kirlin will disseminate the investment profile of AquaCell to brokerage firms, hedge funds and institutional investors in addition to their own offices and will assist the company in areas relating to future financing, mergers and potential buy-outs on a non-exclusive basis. "We are excited about our relationship with the management of AquaCell," said David Lindner, CEO of Kirlin. "We believe their products solve a critical dilemma in the 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. segment of the water industry. I believe that AquaCell's products and management strategies are positioning this company to have a large impact on this industry." Introducing AquaCell AquaCell, based in Rancho Cucamonga, manufactures and markets nationwide the only patented system that permanently attaches a five-gallon water bottle to a traditional water cooler, creating a completely closed system. This Purific(R) water cooler, which has been tested and validated by the Water Quality Association, is equipped with its own state-of-the-art filtration system and automatically refills the permanently attached five-gallon bottle with freshly filtered and purified water every time water is dispensed. The company's clients, primarily comprised of Fortune 500 corporations, save money in comparison to the cost of bottled water, and the companies are relieved of having bottles to change, bottles to store and the inconvenience of bottled water deliveries. The unique nature of the company's product enables it to market nationwide without the use of distributors, tapping into the $5 billion bottled water market. 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 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, performance 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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