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WTCT NEWS OUT:O/S Reduced to 674 million from 1.1 billion, Debt reduced 30%, from 3.8 million to 2.5 million.


By Business Wire 05/19/11 - 08:31 AM EDT

WatchIt Technologies Inc. www.watchittech.com (OTC Markets:WTCT) quarterly report filed with OTC Markets continues the trend of reducing the number of common shares outstanding, reducing the corporate debt and improving the shareholder equity.

Since the end of the most recent fiscal year in September 2010, WatchIt has reduced the outstanding common shares from approximately 1.1 billion to approximately 674 million at the end of the most recent quarter. Debt has been reduced by almost 30% from $3.8 million to $2.5 million and shareholder equity has improved by over $1.3 million.

“This improvement in our balance sheet and shareholder equity is all part of management’s plan to have a strong company as we enter the final testing and begin production of our fuel savings device the “Fuel Reformer,” stated Max Bennett, President and CEO of WatchIt Technologies. “We are committed to a strong return for our shareholders and believe the quarterly financial information filed with OTC Markets demonstrates the success we are having in achieving this goal.”

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About WatchIt Technologies Inc.:

WatchIt Technologies is an “incubator” for emerging “ Green Technology” corporations. Its focus is on strategies that are structured to mitigate risk and produce returns to investors.


http://www.thestreet.com/story/11125413/1/watchit-quarterly-results-show-improvement-in-shareholder-equity-and-reduction-in-corporate-debt.html