MANCHESTER, N.H., Aug. 24, 2011 /PRNewswire/ -- QED Connect, Inc. (OTC: QEDN), a New York corporation ("QED Connect"), today provided an outlook for its operations for 2011. The Company is expecting to realize, but cannot guarantee, revenues from its holdings of approximately $1,000,000 for the year ending December 31, 2011. Revenues will be offset by anticipated operating costs resulting in a positive net income for the year. One of QED's Joint Venture partners, Sofame Technologies, Inc. ("Sofame Technologies") (TSXV: SDW), has received a repeat purchase order in Canada for its award-winning industrial heat reclaim systems and ultra-efficient water heating technologies. QED and Sofame are 50/50 partners in the United States through a Joint Venture called Sofame Energy. Upon meeting the final terms of the Joint Venture agreement, Sofame Energy will recognize US revenue and income accordingly. QED has been implementing it operational plan to become a parent company of targeted acquisitions and joint partners for the last two years. Its portfolio of strategic partners and acquisitions are expected to contribute the Company's financials in 2012.
Tom Makmann, President and CEO of QED Connect, Inc., commented, "Economic conditions have made funding a challenge however we have continued to work with our partners to help them move forward. As the market conditions improve we are hopeful that the partners are in position to aggressively ramp up their respective businesses we, in turn, can expect improved revenues and operating results."
About QED Connect, Inc.
QED Connect, Inc. is a New York corporation holding company which makes acquisitions, investments, and enters into strategic business partnerships. The Company seeks businesses with strong potential which QED can assist in achieving their plans and realizing their maximum potential. This business model achieves the Company's goals and expands its overall revenue and profits and diversifies through entry into the multiple market segments. It is QED's intention to help its partners and subsidiaries realize growth, and that growth would, in turn, enhance QED's ability to increase shareholder value. www.qedconnect.com
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED Connect, Inc., (the "Company") to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to finance the joint venture with Sofame Technologies, Inc., and to fund QED's overall expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its joint venture, Sofame Energy, Inc., and to fund QED's growth, generally ; (iii) successfully obtain and fill potential joint venture product orders; (iv) generate sufficient revenue and efficiently manage operations to obtain profitability; (v) competitive factors and developments beyond the Company's control; fund and complete its common stock buy-back strategy and (vii) other risk factors.
For More Information, Contact:
QED Connect, Inc.
Tom Makmann, President & CEO
SOURCE QED Connect, Inc.