SOURCE: Kenergy Scientific, Inc.
May 02, 2011 11:39 ET
Kenergy Scientific, Inc. (Formerly SpeechSwitch, Inc.) (PINK SHEETS: KNSC) Progress Report: First Quarter Financials; Full Launch of GreenSmartTM Store Website; Flemington Store
FLEMINGTON, NJ--(Marketwire - May 2, 2011) - Ken Glynn, President of Kenergy Scientific, Inc. (PINKSHEETS: KNSC) and 2011 winner of the Garden State GreenFest's Green Award of the Year for Private Citizen, announced the launch of its expanded website www.greensmartstore.com for direct sale of over 70 different green products. The company website and future stores will offer a broad range of green products, including some unique products never before offered in the U.S. The products include alternative energy products, ranging from solar paneled backpacks, bags and pocketbooks for recharging cell phones, PDAs, cameras, electronic books, notepads, tablets and even laptops, to alternative transportation, specifically electric scooters. In addition to alternative energy products, the company products include recycled material products ranging from clothing made from recycled cotton/recycled water bottle polyester filaments to pocketbooks and phone pouches made from recycled candy wrappers; organic products, such as organic cotton towels and baby hoodies; and biodegradable products.
Ken, a retired patent attorney and engineer, and former Vice President of BGreen Innovations, has spent the past two years seeking green products for the business and has engaged two full time product researchers for the past eighteen months, resulting in hundreds of reviews and testing of product candidates. In addition, Ken is an avid inventor with more than 250 patents and patent applications in his name, tens of which are green inventions assigned to Kenergy Scientific to create a base for long term commercialization of significant new green products. Kenergy launches the expanded website today, May 2nd, and plans to open its first retail store in Flemington, NJ in July.
"We are in various stages of negotiations with potential franchisees from New Hampshire to Florida and from New York to California and hope to be the first, the best and the biggest green department store in the country," Ken proclaimed.
Ken also reported that preliminary accounting for first quarter 2011 shows an accounting profit in excess of $ 200,000. This accounting includes adjustments for changes in derivative liabilities and other factors. The first quarter report to the SEC (10Q) has been completed and is under attorney review. It is expected to be filed on time.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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