major financing is on the way!! Just incase you missed this!!IMO
WatchIt Technologies Signs Preliminary Agreement for Long Term Commitment of Capital
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Watchit Techs (PL) (USOTC:WTCT)
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1 Month : September 2011 to October 2011
WatchIt Technologies Inc. www.watchittech.com (PINKSHEETS: WTCT) WatchIt Technologies announced today that the company has signed a preliminary capital commitment agreement for up to two years with Dbar Leasing, a Texas based holding company. According to the company, the closing date will be on or about November 30, 2011. The company will use the funds to take both the gas and diesel version of its patent pending fuel savings device, the fuel reformer, to market.
According to the company, the finance package will provide more than adequate funding for the company to meet its goals and objectives for the next two years. The exact details of the contract will be filed with the SEC in an 8K once the final documents are signed.
WTCT is actively continuing its plan to complete the testing and evaluation of the gas and diesel versions of the fuel reformer at a Detroit area power train lab. The company's upgrade of the current design, negotiating the terms of the capital infusion and the recent rise in interest by a military subcontractor for a specialized version of the diesel fuel reformer, has delayed the final testing plan.
"Although the negotiations have taken longer than originally expected, paramount to any major finance deal is that it mitigates dilution and increases shareholder value," stated Dr. Max L. Bennett, President and CEO of WatchIt Technologies Inc. "Having the funding in place allows the management of WatchIt Technologies to accelerate its business plan and bring value to the shareholders. In addition, the company realizes that its shareholder base has been anxiously awaiting positive news and we believe this will be the beginning of many new and exciting announcements. A podcast is planned for the near future, featuring a short interview with Danny Hyde of Dbar Leasing."
AI
