LAS VEGAS, Sept. 21, 2011 /PRNewswire/ -- George Roth, President of Smokefree Innotec, Inc. (OTC Pink: SFIO) announced today that the Complaint filed by the Securities and Exchange Commission against the Company in the matter of the involvement of its former CEO, Thomas Schroepfer in fraudulent securities transactions in July 2009, has been settled today with the entry of a Judgment Of Permanent Injunction And Other Relief As To Defendant Smokefree Innotec, Inc., consented to by Smokefree without admitting or denying the allegations of the Complaint. (Case 0:11-cv-61454-CMA Document 16 Entered on FLSD Docket 09/20/2011). Further information will be posted on the Smokefree's website in the near future regarding management's actions with respect to this matter. The filing of this Judgment allows the corporation to finalize and proceed with certainty its long awaited disclosure filings with the Pink Sheets and the DTC for the benefit of its shareholders, who have been severely hampered in capitalizing on the value of their holdings in the market since the initial publication of the Complaints on June 30, 2011 and the reactions of the DTC in stabilizing the market activity in the Company's stock.
About Smokefree Innotec, Inc.
Smokefree Innotec, Inc. (OTC Pink: SFIO), www.smokefree-innotec.com, is in the business of designing, developing, manufacturing and marketing hi-tech, nicotine and non-nicotine cigarette-like delivery devices which are completely smoke and vapor-free and tobacco-free. SFIO's products are designed to protect the non-smoker from second hand smoke and all its effects while providing the smoker a way to enjoy a smoke-free cigarette anywhere, including places where vapor emissions are offensive or smoking tobacco or similar substances is prohibited. Further, our products will allow the smoker to enjoy smoking either nicotine or flavored non-nicotine cigarettes while not having to worry about the offensive dangers and ill effects of regular cigarette smoking. However SFIO's products are not intended for any prevention or therapeutic treatment of any disease.
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A number of statements referenced in this Press Release are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, and goals, assumption of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this Release may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may", "could," or "might" occur. Such statements reflect the current views of Smokefree Innotec, Inc. with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. Smokefree Innotec, Inc. does not undertake any responsibility to update the "forward-looking "statements contained in this news release. Disclosures made in this Press Release are limited by good business practice and to that permitted to the public by applicable securities regulations, both Federal and State, including rights granted to shareholders under the Nevada Revised Statutes NRS 78.257 regarding limitations of preferential and selective disclosure of confidential Company information.
SOURCE Smokefree Innotec, Inc.