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August 8, 2006 - 9:05 AM EDT
Safe Travel Care, Inc. Releases Financial Statements for Titan Energy Development Inc. Acquisition
Safe Travel Care, Inc. (OTCBB:SFTV) released today the audited financial statements for Titan Energy Development, Inc. of Detroit, Michigan. SFTV acquired 100% interest in Titan Energy, which now operates as a wholly owned subsidiary of the company. In 2005, its first year of operation, Titan generated $147,000 in sales revenues and a gross profit of $60,059. Net losses for the company in 2005 were $424,262. More information can be found in the Form 8K the Company filed with the Security and Exchange Commission on August 7, 2008.
Titan Energy Development, Inc., is the manufacturer of a mobile, multifunctional utility system, called the "Sentry 5000" designed for disaster recovery and response situations. The Sentry 5000 generates electricity, provides heating and cooling, water purification and satellite communications and is small enough to be transported by a pick up truck or SUV and operates on diesel fuel. With the acquisition completed, SFTV will now focus on the marketing of the Sentry 5000 to both government and private sector markets.
Stated Jeffrey Flannery, CEO of Safe Travel Care, Inc., "Timing is good for the Titan Sentry 5000 as natural and manmade disasters have created both an immediate and long term need for these utility systems. New regulations in some states are beginning to mandate that certain types of businesses have backup power supplies. Cities and municipalities are looking for compact, reliable solutions for power, air and water supplies in times of disaster. These are the markets we will immediately and aggressively pursue."
Stated Thomas Black, President of Titan Energy Development, Inc., "We are currently in development and testing agreements with the US Government and are confident that these efforts will lead to opportunities for the company. We have also signed marketing agreements with some strategic distributors who are waiting for us to expand our manufacturing capabilities. The need for these systems is growing and cannot be met by the current manufacturers. We now hope we are in a position to meet these needs in the marketplace."
More information on Safe Travel Care, Inc. can be found at: www.sftvinc.com. More information on Titan Energy Development Inc. and the Sentry 5000 Mobile Utility System can be found at www.titanenergydevelopment.com.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of SFTV officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future SFTV actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and SFTV has no specific intention to update these statements.
Safe Travel Care, Inc.
Jeff Flannery, 619-342-7449
Source: Business Wire (August 8, 2006 - 9:05 AM EDT)
August 8, 2006 - 9:05 AM EDT
Safe Travel Care, Inc. Releases Financial Statements for Titan Energy Development Inc. Acquisition
Safe Travel Care, Inc. (OTCBB:SFTV) released today the audited financial statements for Titan Energy Development, Inc. of Detroit, Michigan. SFTV acquired 100% interest in Titan Energy, which now operates as a wholly owned subsidiary of the company. In 2005, its first year of operation, Titan generated $147,000 in sales revenues and a gross profit of $60,059. Net losses for the company in 2005 were $424,262. More information can be found in the Form 8K the Company filed with the Security and Exchange Commission on August 7, 2008.
Titan Energy Development, Inc., is the manufacturer of a mobile, multifunctional utility system, called the "Sentry 5000" designed for disaster recovery and response situations. The Sentry 5000 generates electricity, provides heating and cooling, water purification and satellite communications and is small enough to be transported by a pick up truck or SUV and operates on diesel fuel. With the acquisition completed, SFTV will now focus on the marketing of the Sentry 5000 to both government and private sector markets.
Stated Jeffrey Flannery, CEO of Safe Travel Care, Inc., "Timing is good for the Titan Sentry 5000 as natural and manmade disasters have created both an immediate and long term need for these utility systems. New regulations in some states are beginning to mandate that certain types of businesses have backup power supplies. Cities and municipalities are looking for compact, reliable solutions for power, air and water supplies in times of disaster. These are the markets we will immediately and aggressively pursue."
Stated Thomas Black, President of Titan Energy Development, Inc., "We are currently in development and testing agreements with the US Government and are confident that these efforts will lead to opportunities for the company. We have also signed marketing agreements with some strategic distributors who are waiting for us to expand our manufacturing capabilities. The need for these systems is growing and cannot be met by the current manufacturers. We now hope we are in a position to meet these needs in the marketplace."
More information on Safe Travel Care, Inc. can be found at: www.sftvinc.com. More information on Titan Energy Development Inc. and the Sentry 5000 Mobile Utility System can be found at www.titanenergydevelopment.com.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of SFTV officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future SFTV actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and SFTV has no specific intention to update these statements.
Safe Travel Care, Inc.
Jeff Flannery, 619-342-7449
Source: Business Wire (August 8, 2006 - 9:05 AM EDT)
