SANTA ANA, Calif., July 14, 2011 /PRNewswire/ -- SUTIMCo
International, Inc. (Pink Sheets: SUTI) is pleased to announce that
the Company has signed a new Venture Acceleration Agreement with
Capwave Sensor, Inc. The new agreement calls for Capwave to pay
SUTIMCo an initial fee of $100,000 to
be paid upon the execution of the Agreement. During the term of the
Agreement SUTIMCo will receive an annual retainer of $930,000 a year for 3 years as well as a 6%
royalty of gross revenues.
According to the terms of the new Agreement, SUTIMCo has the
right to earn a 15% equity stake of the portfolio company upon a
liquidation event. SUTIMCo will work closely together with Capwave
Sensor to accelerate the commercialization of their technologies
and increase the Company's potential earnings based upon
pre-determined milestones. Currently, SUTIMCo is participating in
the evaluation of technology-based projects from six major American
Universities including UC San Diego, Arizona
State University and Penn State
University for their commercial viability.
In addition, SUTIMCo will have the option to acquire an
additional 15% equity position in the portfolio company for a
period of 2 years. This offers SUTIMCo the ability to acquire
equity in those projects that appear most promising at favorable
prices. The new Agreement also stipulates that SUTIMCo shall be
appointed to the board of directors of each client company.
As outlined in the "Letter to Shareholders" (available at
http://www.otcmarkets.com/stock/SUTI/financials), the SUTIMCo
business model has generated immediate results through the signing
of three separate Venture Accelerator Agreements, which are
expected to result in more than $1.8Million in annual revenue. SUTIMCo,
Inc. has currently partnered with three start-up companies
conceived from Texas A&M, the
University of Arizona and SUNY Binghamton and developed technologies looking
to take their innovative leading edge research to the
marketplace.
"SUTIMCo is constantly monitoring new technologies which meet
our criteria of significant emerging markets and high capital
appreciation for our shareholders and we will be adding as many new
technologies as capital formation will allow," stated Fred Rogers, Chairman of SUTIMCo International,
Inc.
For more information on SUTIMCo, its portfolio companies, and
University partners, please visit; http://www.suti.com
About SUTIMCo International, Inc.:
SUTIMCo International, Inc. is a holding company, which utilizes
a unique and established platform to launch new technology
enterprises based on world-class university research discoveries.
SUTIMCo International through its wholly owned subsidiary SUTIMCo,
Inc., provides experienced management to early stage companies,
reducing risk and assuring the know-how in launching and growing a
new company. In addition to this skilled management team, SUTIMCo
can avail itself of the encyclopedic, informal knowledge of the
inventor, his experience and his research team.
Safe Harbor: Statements regarding financial matters in this
press release other than historical facts are "forward-looking
statements" within the meaning of section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934, and as
that term is defined in the Private Securities Litigation Reform
Act of 1995. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, technology efficacy and all other forward-looking
statements be subject to the safe harbors created thereby. The
Company is a development stage company who continues to be
dependent upon outside capital to sustain its existence. Since
these statements (future operational results and sales) involve
risks and uncertainties and are subject to change at any time, the
Company's actual results may differ materially from expected
results.
Investor Relations
407-389-5900
SOURCE SUTIMCo International, Inc.