PKTO - Pocketop Corp. Is Debt Free With Assets Only!
Pocketop Corp. Explains Balance Sheet
Pocketop Corp. (PINKSHEETS: PKTO) today clarified its Balance Sheet to counter any speculation by its new shareholders. The company explained that although millions have been spent on development and sales to date the secured creditors and Cyberhand Technologies International Inc. have agreed to create a new debt free entity that would start with only assets on the balance sheet and no debt whatsoever. Tangible assets in hardware, inventory, designs, patents, trademarks and parts totaling hundreds of thousands of dollars and the investment credit for the millions more that was spent were simply placed in the new company. The new Pocketop Corp. will have all it needs to produce new products on time and on budget regardless of the complexity and feature set. It has also been agreed that Cyberhand Technologies International Inc. will provide its existing design files at no charge and to use its design studios and software group at a preferred rate unmatchable in the industry to speed production.
"We have no debt, plenty of assets and millions already spent to help us," commented Nino Caldarola, President and Chief Executive, Pocketop Corp. "No debt, assets, superior designs ready to go, proven manufacturing expertise on tap and a team ready to go with little overhead to worry about. We are going to be a hard to beat technology provider with a price point unmatched in the industry. If you thought we were hard to beat in the past, come and try our new products and enjoy what a debt free working environment brings to the market. We will be delivering the world's best products at the industry's best price and offering service no one can even hope to touch," stated Nino Caldarola.
About Pocketop Corp.
Pocketop Corp is a leader in the design, manufacture and marketing of solutions for the mobile handheld device market. Pocketop Corp.'s initial product will have far more features than the previous best selling Pocketop Original Keyboard which was the first and wireless, portable, folding keyboard for the PDA market and the first to offer device compatibility with all major brands of PDA's. The new state of the art keyboard is half the volume and weight of competing products and has traditional keyboard touch-type functionality with an expanded line of user features. In addition to its core line of keyboards the Company has expended its line of products to include a vast array of compatible accessories. The primary objective of the merger is to maximize the shareholder value to all of the PKTO shareholders.
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission.
Distributed by Filing Services Canada and retransmitted by Market Wire
Source: Market Wire (March 12, 2007 - 3:30 PM EDT)
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