for starters: Zevotek Receives $1.1 Million Ionic Bulb Order
2009-10-21 09:00 ET - News Release
NEW YORK, Oct. 21, 2009 (GLOBE NEWSWIRE) -- Zevotek, Inc. (Pink Sheets:ZVTK) (Frankfurt:T5V1), 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.
Commenting on the order, Zevotek's CEO, Adam Engel, said, "The order is a major development in Zevotek's global marketing initiative. The Japanese and Korean markets offer a huge selling opportunity and I believe are the best strategic starting point for us in Asia. The order confirms for me the global appeal of our Ionic Bulb. Our simple message travels well: purifying the air in your home and saving energy is as simple as changing a light bulb."
The Ionic Bulb is designed for consumer use by combining the performance features of ionic air cleaning technology with those of a 10,000-hour reduced energy use compact fluorescent light bulb (CFL). According to ENERGY STAR(R), a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy, a qualified CFL lasts about 10 times longer than an incandescent bulb, uses 75 percent less energy, saves about $30 over its lifetime and pays for itself in about 6 months. ENERGY STAR(R) said earlier this year that using less energy helps reduce air pollution and greenhouse gas emissions from power plants.
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.
About the Company:
Zevotek, Inc. plans to market and sell a range of innovative personal and home care items. Zevotek has a license to sell an energy saving compact fluorescent light bulb named the Ionic Bulb. The Company plans to market the Ionic Bulb through TV infomercials, catalogs, magazines and major U.S. retail and specialty stores and the Internet. Zevotek's Ionic Bulb infomercial airs on www.asseenontv.com and the Company's www.zevo-tek.com website.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this release with respect to the Zevotek, Inc.'s business, financial condition and results of operations, as well as matters of timing and effectiveness of marketing the Ionic Bulb are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond Zevotek, Inc.'s control with respect to market acceptance of their products, whether financing will be available, the plans for Zevotek, Inc. to market and sell products as well as certain other risk factors which are and may be detailed from time to time in Zevotek, Inc.'s filings with the Securities and Exchange Commission.
This press release contains forward-looking statements. The words or phrases 'may,' 'intends,' 'expects,' 'estimate,' 'indicate,' 'plans,' 'anticipates,' 'could,' 'if,' 'will,' 'should' or similar expressions are intended to identify 'forward-looking statements.' Actual results could differ materially from those projected in forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Zevotek, Inc. cautions readers not to place undue reliance on such statements. Unless otherwise required by applicable law, Zevotek, Inc. does not undertake, and Zevotek, Inc. specifically disclaims any obligation to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.
CONTACT: Zevotek, Inc.
Adam Engel
201-394-8684
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