SANTA ANA, Calif., June 17, 2011 /PRNewswire/ -- AquaStar Holdings, Inc. (Pink Sheets: RPPR) is pleased to announce that as of today, June 17, 2011, the Company has changed its name to SUTIMCo International, Inc. and will be trading under the stock symbol SUTI (OTCPK: SUTI). There is no need or requirement for current shareholders to surrender their shares issued under the old name AquaStar Holdings, Inc. in exchange for new shares in the name of SUTIMCo International, Inc.
SUTIMCo International, through its wholly owned subsidiary SUTIMCo, Inc., has currently partnered with three start-up companies conceived from Texas A&M, the University of Arizona and SUNY Binghamton developed technologies looking to take their innovative leading edge research to the marketplace. In addition, SUTIMCo is participating in the evaluation of technology-based projects from six other major American Universities including University of Maryland, Arizona State University and Penn State University for their commercial viability.
"This name change symbolizes the Company's new direction. I am very pleased with what the Company has accomplished over the last several months and we are now structured to achieve the revenue and growth goals and objectives of our business model," stated Fred Rogers, Chairman of SUTIMCo International, Inc.
In further news, the Company announced that it has appointed Fred Rogers, President and CEO of SUTIMCo, Inc., as Chairman of the Board of Directors for SUTIMCo International. Mr. Rogers has over thirty years of experience in corporate leadership and business. Mr. Rogers has personally created, operated and sustained many technology businesses from launch through successful exit.
For more information on SUTIMCo, its portfolio companies, and University partners, please visit; http://www.suti.com
About SUTIMCo International, Inc.:
SUTIMCo International, Inc. is a holding company, which utilizes a unique and established platform to launch new technology enterprises based on world-class university research discoveries. SUTIMCo International, through its wholly owned subsidiary SUTIMCo, Inc., provides experienced management to early stage companies, reducing risk and assuring the know-how in launching and growing a new company. In addition to this skilled management team, AquaStar Holdings can avail itself of the encyclopedic, informal knowledge of the inventor, his experience and his research team.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The Company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results
Source: SUTIMCo International, Inc.
SOURCE SUTIMCo International, Inc.