SANTA ANA, Calif., Sept. 28, 2011 /PRNewswire/ -- SUTIMCo
International, Inc. (Pink Sheets: SUTI) is pleased to announce that
the Company has received $645,000
from WildCap Energy. SUTIMCo's payment for the previously
signed Venture Accelerator Agreement (VAA) was received in a
combination of cash and stock.
SUTIMCo has already received cash payments of $145,000 since the signing of the VAA Agreement
with WildCap Energy, which is valued at $2,790,000 over 3 Years. SUTIMCO is due to
receive an additional payment of $500,000 in Common Stock at $.50 per share before September 30. Both parties agreed that
equity was in their mutual best interest as payment because it
would allow for further development of WildCap's Windmill
Technology.
WildCap Energy recently received approval on its S-1
Registration Statement from the United States Securities and
Exchange Commission (SEC). As a result, the Company expects
to begin trading at $1.00 per share
with an initial market capitalization of $10,600,000.
WildCap Energy's revolutionary wind turbine design was developed
at the University of Arizona by Dr.
Israel Wygnanski. The wind turbine
is capable of producing 50 percent more energy at the cost of
conventional wind turbines of the same power rating. According to
reportlinker.com, the world market for turbines and related
products is projected to increase 5.6 percent per year through 2010
to $135 billion. Growth will be
driven by the wind turbine sector, which consistently exceeded
industry growth estimates over the 2004 to 2009.
"This is a great way to close out the 3rd Quarter. We are
looking forward to a strong Year End," stated Fred Rogers, Chairman of SUTIMCo International,
Inc.
For more information on Wildcap Energy, please visit;
http://www.wild-cap.com
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.