Today SSWC had it's second press release of the month and the stock initially headed higher before falling. SSWC traded as high as $.0045 a share and closed the session $.001 lower. Typically news events are sold and while SSWC did get sold off, it recovered nicely in the latter part of the day to almost close even.
This pull-back was overdue after such an impressive rally. While investors want their stocks to only go up, having your stock go down a tick or two is better in the long run. While a stock that gets overextended can fall dramatically as a bevy of profit takers hit the bid all at once, a stock that has healthy pull-backs is better equipped to withstand selling pressure that heads its way.
FLEMINGTON, NJ, Jun 14, 2010 (MARKETWIRE via COMTEX) -- Ken Glynn, President of SpeechSwitch, Inc. (PINKSHEETS: SSWC), announced today that the company will launch the Kenergy(TM) Solar Recharger for recharging iPods(R), iPhones(R) and other small electronic devices. The very portable Kenergy(TM) Solar Recharger attaches to mobile phones and other devices to recharge their batteries. The device itself is solar rechargeable and needs no outlet to recharge the iPod(R) or iPhone(R). The Kenergy(TM) device weighs in at only 45 grams, and includes a 5v, 60 mA solar panel. It will retail at $37.50 and undercut competitive products. The launch, along with three other existing solar chargeable products, is planned for July 7, 2010. Marketing will be multifaceted and will include internet and magazine advertising, as well as a live sales team who will seek retail outlets for wholesale arrangements. (* iPod(R) and iPhone(R) are trademarks of Apple, Inc. The Kenergy(TM) Solar Recharger is not an Apple product. Kenergy(TM) is a trademark of SpeechSwitch, Inc.)
We are devoted to the development and sale of products in four SSWC categories: Solar power systems; Solar products; Wind turbine systems and other Creative products -- SSWC, that's our symbol! We will build value through four mechanisms -- rigorous development of a new inventions patent portfolio; licenses/acquisitions of third party patents; marketing of existing novel products; and development of proprietary products through strategic alliances. (SpeechSwitch, Inc. is an independent, publicly traded company and is not affiliated with iVoice, Inc. or its related companies. We are no longer in the speech recognition systems business.)
Information set forth in this press release contains various "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Private Securities Litigation reform Act of 1995 (the "Act") provides certain "safe harbor" provisions for forward-looking statements. The reader is cautioned that such forward-looking statements are based on information available at the time and/or management's good faith belief with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed statements. Forward-looking statements speak only as of the date the statement was made. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information. Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
Contact:
Ken Glynn
908 788 0077
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