Today's mid-morning SSWC press release continued the trend of great news and very little price per share follow through. One could argue that the stock did not sell off on the news, and they would be right. It did pop after the news was released, although it was only able to muster a 10% gain on the day.
If you are looking at the big picture and not focusing on the daily gyrations of this stock, then today was just another day on the road to $.005 and beyond. Debt settlements, selling products through Walmart, there are many good things going on with this company. I do not think much of this is priced in yet, and leads me to believe that at some point soon this stock will just take off and never look back.
FLEMINGTON, NJ, Aug 12, 2010 (MARKETWIRE via COMTEX) -- Ken Glynn, President of SpeechSwitch, Inc. (PINKSHEETS: SSWC), announced today that the Company has settled litigation filed against the Company by Langsam Borenstein, successor to the accounting firm of Bagell, Josephs, Levine & Company LLC. The lawsuit was based on unpaid debt from three years ago and the suit was settled at 50 cents on the dollar. This eliminates more company debt, as well as the only litigation matter that had been pending against the Company.
Ken further reconfirmed that there are approximately 8 billion shares outstanding, with about 6 billion of these restricted or untradeable -- only about 2 billion shares are in the free trading float at this time.
Ken also confirmed that he was working with one of Walmart.com's distributors to finalize arrangements to launch the Kenergy(TM) iPhone Solar Recharger on Walmart.com.
Ken also announced that four new solar recharging backpacks, one solar paneled belly pack, two solar paneled designer pocket books and one solar paneled beach bag (all with multiple adaptors for charging a variety of cell phones, PDAs and other electronic devices) will be added to the Company's line of products.
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.
Contact:
Ken Glynn
908 788 0077
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