SANTA ANA, Calif., May 21, 2012 /PRNewswire/ -- SUTIMCo
International, Inc. (Pink Sheets: SUTI) is pleased to announce that
the Company has posted its Quarterly Earnings Report for Period
Ending March 31, 2012
(http://www.otcmarkets.com/financialReportViewer?symbol=SUTI&id=81553).
In addition to its Earnings, the Company has released a Letter to
its Shareholders. SUTIMCo International completed the
acquisition of SUTIMCo Holdings in 2011 and as a result, the
Company has dramatically increased its sales and is now
profitable.
In April of 2011, the Company completed the acquisition of
SUTIMCo, Inc. (www.SUTI.com), a provider of management services and
infrastructure for emerging technology companies based in
Santa Ana, CA. As part of the
agreement, AquaStar Holdings has acquired 100% of the shares of
SUTIMCo Inc. in exchange for $9,500,000, payable in $4,000,000 of preferred stock in AquaStar
Holdings and $5,500,000 in cash to be
paid within a 24 month period from the date of closing. SUTI
Holdings has presently converted $1
million of their preferred shares into common shares of the
Company. The Company's first objective will be to negotiate
and secure new financing to support the growth and product
development of the university developed technologies that SUTIMCo
manages.
SUTIMCo's early stage management services and infrastructure are
provided through Business Units (parent companies that manage and
support up to four portfolio companies). The mission of each
Business Unit is to finance, grow and sell successful companies as
they mature out of the start‐up stage and become attractive to
larger companies. SUTIMCo plans to operate Business Units in
the areas of; Quality of Life, Alternative
Energy, Food Safety, Environmental Technologies, Advanced Material
and Media and Entertainment.
As the managing entity, SUTIMCo manages investment dollars and
all aspects of the early stage company's initial activities
including product definition, product development, marketing,
sales, finance, human resources, and team building. SUTIMCo
continues to provide overall developmental and administrative
support services to each operating portfolio company until the
company can stand alone or be sold. With the financing for each
portfolio company coming through the Business Unit, risk is spread
among multiple projects all the while increasing the likelihood of
success through deployment of SUTIMCo's unique methodology.
The SUTIMCo business strategy avoids the limitations of working
solely with one technology, it allows the Company to have access to
the greatest minds around the country and it allows the management
team to "cherry pick" the very best technologies taking innovation
from laboratory to marketplace. The benefit from SUTIMCo is
twofold; (one), the Company can realize the immediate revenue
generated from the Venture Acceleration Agreements in place with
the various Business Units; and (two), SUTIMCo then works with the
companies in their development having the option to acquire the
"cream of the crop." This allows SUTIMCo, as a management
company, to go ahead and look at the various technologies that are
coming from all the major universities, assist them in securing
funding, develop them and then take an equity position in the best
ones.
Currently SUTIMCo is working to fund and operate three Business
Units, Quality of Life, Environmental Technologies which will
include its AquaStar Corporation, and Alternative Energy
Unit. Although the new business model is tremendously
profitable, SUTIMCo's clients do not have the capital necessary to
pay SUTIMCo on a timely basis. SUTIMCo must wait for its
clients to either raise money or generate revenues in order to
receive money from its Venture Accelerator Agreements (VAA).
SUTIMCo management believes that the short term risk will pay off
as the technologies behind the VAA is based upon both University
Research and Government support.
For more information on SUTIMCo, its portfolio companies, and
University partners, please visit; http://www.suti.com.
Please visit http://www.otcmarkets.com/stock/SUTI/financials to
review the complete "Letter to the Shareholders" and SUTIMCo
financial reports.
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
ir@boostmarketingnow.com
SOURCE SUTIMCo International, Inc.