Gonna be a big mover today on news out A/H
Teledata World Services, Inc. Executes Letter of Intent to Acquire Revolutionary Traffic Safety Company PR Newswire "Press Releases US - English"
LAS VEGAS , May 17, 2012 /PRNewswire/ --Teledata World Services, Inc. ("the Company") (TWOS.PK) announced today that it has signed a Letter of Intent to acquire all of the equity of Superior Traffic Controls, Inc. ("Superior"). The transaction will result in the majority shareholders of Superior becoming the majority shareholders of the Company. The Letter of Intent comes at the conclusion of a two-year search by the Company for a new business opportunity with which the Company could merge with or acquire.
Superior Traffic Controls, Inc. , a Nevada Corporation , is headquartered in Irvine, California . Superior develops, manufactures and markets innovative safety products related to roadside safety and incident management promoting a safer working environment and saving lives for highway workers, first responders and travelers.
Superior's flagship product, The Kone General, is a patented and revolutionary portable device that automatically deploys Superior's proprietary and also patented traffic safety cones (Safe "D-Ploy" Spring Cone) while the operator remains safely inside the attending vehicle. Primary target market segments include highway departments (i.e. CalTrans ), private/public utilities, Fire/EMS, law enforcement, trucking/transportation, telecomm, vehicle parking industry, construction and the military. While their product is being distributed internationally, the size of the Fire/EMS market in the U.S. alone is estimated to be in excess of $100M . Superior Traffic Controls' mission is to provide for safer highways and save lives, through the continued R&D, manufacture, and distribution of its proprietary traffic safety products.
The Company will effect a restructure of its capitalization in connection with the planned completion of the acquisition. Following a reverse split of 500 to 1 and issuance of 22,730,000 shares to Superior shareholders, the Company will have approximately 23,866,500 shares issued and outstanding.
For more information contact: Gary Winikur , Investor Relations 949-825-6512
