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GuestTek International, Inc. Completes Sale of GuestMetrics to Shot Spirits Corporation for $5 Million
Date : 11/19/2009 @ 8:31AM
Source : PR Newswire
Stock : (GESM)
Quote : 0.006 0.001 (20.00%) @ 8:32AM
GuestTek International, Inc. Completes Sale of GuestMetrics to Shot Spirits Corporation for $5 Million
Company Retains the Right to Market and Sell GuestMetrics Software Products
LONDON, Nov. 19 /PRNewswire-FirstCall/ -- GuestTek International, Inc. (Pink Sheets: GESM) is pleased to announce that it has completed the sale of its GuestMetrics subsidiary to Shot Spirits Corporation (Pink Sheets: SSPT) in return for $5 Million, paid in the form of restricted common shares of Shot Spirits stock to GuestTek International. GuestTek International shall retain the right to market and sell GuestMetrics' software products, for which GuestTek International shall receive 25% of all net revenue generated from software sales. In conjunction with the sale of GuestMetrics to Shot Spirits, both Brian Barrett and Tammy Posten have resigned from the Board of Directors of GuestTek International. They remain committed to the success of the GuestMetrics' brand and will support GuestTek with their efforts in marketing and selling GuestMetrics' analytical software products globally.
GuestTek International recently announced the acquisition of Enable Software Ltd., a European based email management software development, marketing, and sales company. The acquisition of Enable will immediately position the Company to market and sell GuestSnapshot and BarMetrics internationally.
"GuestMetrics has an exciting product with a great track record and I look forward to helping them reach new levels in the sales of their products and services. I strongly believe that the relationship with Shot Spirits will be beneficial to both GuestTek and our shareholders," stated David Lovatt, President and CEO of GuestTek International, Inc.
About Shot Spirits Corporation, Inc.:
Shot Spirits Corporation, Inc. is a beverage company focused on innovative products for the on-premise and off-premise market place. Shot Spirits and Beverage Pouch Group (BPG), a prolific innovator of pouch designs and structures for lifestyle beverages, are pioneers in the single serve Ready to Drink alcohol category. Through the partnership, they have developed a full line of straight spirits and mixed shots. All of the shots are packaged in eco-friendly patented plastic pouches for the person on the go or engaged in an active lifestyle.
About GuestTek International:
GuestTek International owns Enable Software Ltd., which is a European based email management software solutions company. EnableTS works exclusively with IT Service Providers to furnish them with the very latest in email management solutions for the modern market place. Covering everything from Archiving, Anti-Spam, Disaster Recovery and Business Continuity, the EnableTS Framework Platform is modular and can be custom designed to the client's specific requirements.
For more information, please visit: http://www.guesttek-inc.com/
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
DATASOURCE: GuestMetrics, Inc.
CONTACT: Investor Relations, Big Apple Consulting USA, +1-407-389-5900
Web Site: http://www.guesttek-inc.com/
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