"The $1.1 million order calls for Zevotek to supply the distributor with samples of Zevotek's standard 110 volt and 240 volt versions of the 15 watt and 23 watt Ionic Bulbs. Zevotek offers different versions of the Ionic Bulb to satisfy the technical specifications and consumer preferences of the global marketplace. The distributor is undertaking to gain any regulatory approvals needed to sell the Ionic Bulb in the markets contemplated. The order calls for the distributor to finance their purchase order using bank letters of credit. The order permits the distributor certain flexibility including the timing of shipments, quantities of Ionic Bulbs for each shipment and the voltage and wattage types of Ionic Bulbs to be shipped. The distributor is permitted under terms of the order to not request any shipment of the Ionic Bulb. The order calls for the distributor to begin requesting shipments of the Ionic Bulb during the first calendar quarter of 2010. The prices set forth in the order received and any additional order the distributor may place in 2010 is not subject to change. Zevotek has not yet directly discussed the order with the manufacturer of the Ionic Bulb."
NEW YORK, Oct. 21, 2009 (GLOBE NEWSWIRE) -- Zevotek, Inc. (Pink Sheets:ZVTK - News) (Frankfurt:T5V1 - News), a worldwide direct marketer and distributor of innovative personal and home care items, announced today the company received an $1.1 million order to buy Ionic Bulbs. The order calls for Zevotek to supply a distributor in Asia with Ionic Bulbs for sale in Japan and Korea. Zevotek is pursuing a global marketing initiative for the Ionic Bulb and the order is the first Zevotek has received for the Asian market. Today's announcement follows Zevotek's September 15 announcement of a shipment of Ionic Bulbs to Zevotek's German distributor, MediaShop AG, a direct marketer to nearly 100 million people in Germany, Switzerland and Austria. Zevotek plans to sell the Ionic Bulb in the U.S. starting in November using a marketing campaign based on a new 2-minute TV infomercial.
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I have a feeling this $1.1 mil deal will not come to fruition.
