Wave Power.Net Rescinds Agreement with 3 Strikes -USA-, Inc. and Signs Agreement to Acquire Via-Tek, Inc. and Its Intellectual Properties.Business Editors POMPANO BEACH Pompano Beach (pŏm`pənō), city (1990 pop. 72,411), Broward co., SE Fla., on the Atlantic coast and the Intracoastal Waterway; inc. 1908. It is a resort city with ocean beaches, excellent fishing, and a harness-racing track. , Fla.--(BUSINESS WIRE)--April 25, 2002 Wave Power.Net, Inc., a Delaware Corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. , (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :WPDN WPDN Wind Profiler Demonstration Network ) today has announced the rescission The abrogation of a contract, effective from its inception, thereby restoring the parties to the positions they would have occupied if no contract had ever been formed. By Agreement of its February 18th agreement to acquire 3 Strikes (USA), Inc. due to the inability of 3 Strikes to confirm auditable financial statements. Wave Power.Net also announced it has signed a conditional agreement to acquire Via-Tek, Inc. along with all of Via-Tek, Inc.'s intellectual properties. The acquisition will be finalized on approval of management for both Companies and their respective shareholders, if necessary, as well as appropriate due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. . "I believe that the proposed acquisition is an important move in the growth of Via-Tek. We have a number of innovative technologies under in-house development and I believe that this transaction will increase the visibility and accessibility of the Company's unique alternative energy solutions," stated Brian Cooper, President of Via-Tek. About Via-Tek, Inc. Via-Tek is focused on innovative energy technologies for the twenty-first century. One of its many unique alternative energy technologies is a patent pending hydrogen gas generator that is the result of years of research and development and which produces hydrogen gas from water via the timed release of measured amounts of an alkaline metal emulsion into a water reservoir. The result is hydrogen gas on demand in the exact quantity required at any given moment. For additional information visit the Company's website at http://www.via-tek.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. for Forward-Looking Statements: Except for historical information contained herein statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings. |
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