NEWS::::Cyclone Power Technologies Announces
Annual Consent of Shareholders
Pompano Beach, FL, May 5, 2010. Cyclone Power Technologies (Pink Sheets: CYPW) announced the results of its 2010 annual shareholder consent.
The following items were resolved pursuant to the consent: (1) Harry Schoell, Frankie Fruge and James Landon were appointed to the Board of Directors (the bios of these individuals can be found on the Company's web site at www.cyclonepower.com/leadership); (2) Mallah Furman P.A. was approved and retained as the Company's public accounting firm of record for 2010; and (3) the number of shares of common stock that the Company is authorized to issue was reduced to 300 million from one billion.
"We realized that the overhang of authorized but unissued common shares concerned some stockholders, and it was never our intention to issue that many," stated Frankie Fruge, COO and Director of the Company. "We decided to reduce that figure to a more manageable number while still allowing us room to grow."
The Shareholder Consent in lieu of an Annual Meeting was conducted pursuant to Title XXXVI, Section 607.0704 of the Florida Statutes. Shareholders as of the record date of April 28 will receive notice of an upcoming shareholder event in the mail.
Corporate Profile
Cyclone Power Technologies is the developer of the award-winning Cyclone Engine - an eco-friendly external combustion engine with the power and versatility to run everything from portable electric generators and garden equipment to cars, trucks and locomotives. Invented by company founder and CEO Harry Schoell, the patented Cyclone Engine is a modern day steam engine, ingeniously designed to achieve high thermal efficiencies through a compact heat-regenerative process, and to run on virtually any fuel - including bio-diesels, syngas or solar - while emitting fewer greenhouse gases and irritating pollutants into the air. Currently in its late stages of development, the Cyclone Engine was recognized by Popular Science Magazine as the Invention of the Year for 2008, and was presented with the Society of Automotive Engineers' AEI Tech Award in 2006 and 2008. Additionally, Cyclone was recently named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit www.cyclonepower.com.
Media Contact
Will Wellons
407-462-2718
will@redletterpr.com
Company Contact:
Frankie Fruge
954-943-8721
Frankie@cyclonepower.com
Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
