Nutek, Inc. Announces TekPlate Approved by Insurance Underwriter.Business Editors LAS VEGAS--(BUSINESS WIRE)--Oct. 28, 2003 Nutek, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NUTK) today announced that the TekPlate(TM) product has been approved by the underwriter for Old Line Agency Services, providers of America's #1 nationally brokered Bed and Breakfast (B&B)/Country Inn Insurance Program. "We have added TekPlate(TM) to the list of products that are acceptable to the program for emergency lighting. Each client that needs Emergency Lights gets the information about the product," stated Bill Carr William ("Bill") Arthur Carr (October 24, 1909 – January 14, 1966) was an American athlete, a double Olympic champion in 1932. Born in Pine Bluff, Arkansas, Carr studied at Mercersburg Academy and the University of Pennsylvania, where he was coached by 1904 Olympian at Old Line. There are over 25,000 operating Bed & Breakfast and Country Inns in the U.S. serving more than 3.7 million guests annually. Additionally, The Wall Street Journal reports this segment as one of the fastest growing industries in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "I installed seven TekPlates(TM) in less than an hour the day I received them and have received nothing but positive comments from my guests," said Louise Samuelson, who owns and operates her B&B, Lithia lith·i·a n. See lithium oxide. [New Latin, from lithion, from Greek, diminutive of lithos, stone.] Rose, in Ashland, Oregon Ashland is a city in Jackson County, Oregon, near Interstate 5 and the California border, and located in the south end of the Rogue Valley. It was named after Ashland County, Ohio, point of origin of Abel Helman and other founders, and secondarily for Ashland, Kentucky, where other . "We needed a solution that was permanently mounted and wouldn't 'walk away.' TekPlate(TM) is the only product that meets that requirement, and it provides more light than the rechargeables." "Until now the only real choices were rechargeable re·charge tr.v. re·charged, re·charg·ing, re·charg·es To charge again, especially to reenergize a storage battery. re flashlights that turn on automatically when the electricity is lost. All of these 'approved' products last for no more than about 90 minutes of light. We believe that 90 minutes of light only solves one potential risk. The one that is overlooked, which TekPlate(TM) solves, is the risk of the guests being in the dark, for an extended period, yet there is no emergency. In addition, the rechargeable lights may be dead when they are needed if the guest is out of the room when the blackout occurs. Our product, the TekPlate(TM) brand Backup Light, lasts for up to 48 hours on a fresh set of batteries. The Innkeepers need only change the batteries to get up to an additional 48 hours of light," stated Ira Silverman, Marketing Director for TekPlate(TM). The Old Line Bed and Breakfast underwriting requirements now include emergency lighting in each guest room. The underwriter has made it clear that flashlights do not meet this requirement. We are proud to announce that TekPlate(TM) does meet this requirement. Nutek is in the process of contacting the roughly 8,000 B&B's belonging to the Professional Association of Innkeepers International, (PAII PAII Professional Association of Innkeepers International PAII Pulse Accumulator Input Interrupt ) regarding this latest development. Nutek has joined the association and has placed an advertisement on their website for the TekPlate(TM) product. "We are extremely pleased with the remarkable job and contribution Mr. Silverman has provided to have the TekPlate(TM) recognized as a viable and needed product. Not only has the product been repositioned in the market, Mr. Silverman is creating interest and widespread exposure in the marketplace for the TekPlate(TM)," stated Murray Conradie, Nutek's Chief Executive Officer. "We recently announced the spin-off of the patented TekPlate(TM) product and various related licenses, marketing agreements, etc., into a subsidiary corporation. We anticipate direct benefits to our bona fide [Latin, In good faith.] Honest; genuine; actual; authentic; acting without the intention of defrauding. A bona fide purchaser is one who purchases property for a valuable consideration that is inducement for entering into a contract and without suspicion of being shareholders, who will soon be direct owners of the subsidiary (registered shareholders of Nutek on the Record Date of October 31, 2003, will receive a special distribution of a pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. portion of the common stock of the subsidiary -- see Nutek's press release of October 20, 2003), as well as to Nutek, the parent company, which will retain the majority of the Subsidiary's issued shares," concluded Conradie. About Old Line Old Line Agency Services is one of the first and only general brokers to offer the leading innkeepers' program to the agent and broker community nationally. Their national program serves the needs of the Bed & Breakfast and Country Inn owners by incorporating commercial and homeowners insurance coverage's into one policy. Old Line enables all local insurance agents, (with the proper license) to provide their local Innkeepers with superior coverage by accessing the only nationally offered insurance program designed specifically for Bed & Breakfasts and Country Inns. About the Professional Association of Innkeepers International (PAII) PAII is the world's largest trade association supporting innkeepers and those planning to be. More information is available at http://www.paii.org. About TekPlate(TM) TekPlate(TM) is a specialty line of patented switch plate and outlet plate covers specifically designed to provide automatic illumination when the power fails. Additional information is available at www.tekplate.com. 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: 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 contained in this press release are "forward-looking" statements (within the meaning of the Act) and information relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the company that is based on the company management's views, as well as assumptions made by and information currently available to the company's management. In this press release, the statements made reflect the company's current views with respect to future events, and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such 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. . |
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