Nutek Inc. Receives Three-Year Commitment for NuLight.Business Editors & High-Tech Writers HUNTINGTON BEACH Huntington Beach, city (1990 pop. 181,519), Orange co., S Calif., on the Pacific coast, across from Santa Catalina Island, in an oil-producing area; inc. 1909. It manufactures aerospace vehicles, aircraft parts, optical instruments, and heat transfer equipment. , Calif.--(BUSINESS WIRE)--March 29, 2001 Nutek Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :NUTK) announces receipt of three-year commitment for NuLight Product. Murray Conradie, Nutek 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. , stated, "The NuLight product has received a tremendous response to initial test marketing resulting in All Around Lighting Inc. a leading lighting distributor increasing their initial order from 2,500 units to supplying Nutek a 300,000 unit commitment in writing for a three-year period." About the NuLight product: The NuLight switch cover plate is a revolutionary safety lighting device for every home, office, hotel and hospital. All that is required is to unscrew the existing light switch cover plate and screw on our new safety cover plate. No wiring is required. In the event of a power failure, electrostatic Stationary electrical charges in which no current flows. For example, laser printers and copier machines place a positive charge of the image on a drum, and negatively charged toner is attracted onto the drum. The toner is then transferred to positively charged paper and fused to the paper by heat. sensors immediately activate light diodes in the cover powered by ENERGIZER batteries which will illuminate il·lu·mi·nate v. il·lu·mi·nat·ed, il·lu·mi·nat·ing, il·lu·mi·nates v.tr. 1. To provide or brighten with light. 2. To decorate or hang with lights. 3. a regular room for several hours. Most light switches are located at an entryway, therefore, amber lights will be used for internal room light covers and red lights on exit way covers. About All Around Lighting: All Around Lighting a leading lighting supplier located in Irvine, Calif. with an additional operation The Light Bulb Source, located in Honolulu is recognized as a premier supplier for all lighting needs. They have been serving the lighting consumer since 1985 and specialize in Long-Life, Full Spectrum and Energy saving lighting products. All Around Lighting's Web site is www.allaroundlighting.com. Conradie further stated that, "Nutek will be requesting an extension to file our Annual 10K due to changes required with the removal of Elite Fitness as a subsidiary. We do however, anticipate record net earnings of approximately $225,000 for the fiscal year 2000." 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. for 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. Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of 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. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings, the company's failure to implement its business strategies and other risks. |
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