MIAMI, Aug. 14, 2012 /PRNewswire/ -- Hi Score Corporation (PINKSHEETS: HSCO) announced today that its Board of Directors has issued a resolution approving the expansion of the company's business model. The expansion revolves around the company seeking out profitable existing companies for acquisition in three specific sectors: Energy Saving Lighting, Medical Solutions and Energy Drinks.
The company has been in the Energy Saving Lighting Business for the past three years. The recent divestiture of its subsidiary, DMD Lighting and Energy Control Systems, which concentrated primarily on traditional lighting, has freed up personnel and systems to once again concentrate on the Energy Savings section of the lighting industry. "I see a very strong future in the burgeoning Energy Saving Section of the business," said Company COO Dominick Falso, "... everybody today is getting more and more energy conscious ... it just makes sense to expand our efforts to focus on capturing a share of this multi-billion dollar industry." The Board's resolution authorizes Mr. Falso to open up acquisition talks with private Energy Saving Lighting companies that would benefit from teaming up with the company.
Company President and CEO Michael Zoyes is expected to discuss the company's plans to expand into the Medical Solutions and Energy Drink businesses in future releases. "I have had preliminary discussions with private companies in each of these sectors. The Board's approval allows me to become more definitive in these discussions."
The company's decision to explore diversification is something that CEO Michael Zoyes has been desirous of for some time. There are many strong private companies that are throwing off profits in each of these sectors. Mr. Zoyes is targeting companies from these groups that are not only profitable but would also benefit from becoming part of a publicly traded company. "There are several possibilities ..." said Mr. Zoyes.
The company continues to be very optimistic about the future.
About Hi Score
Hi Score Corporation is a supplier of eco-friendly lighting products in the Western Hemisphere. It offers its customers the fiscal and ecological practicality of utilizing safe, efficient, solid state green lighting rather than conventional fluorescent and incandescent bulbs. The Company offers the widest selection of high quality, long lasting LED lighting products that that can replace existing incandescent, fluorescent and halogen bulbs as well as compact fluorescent lights. Additionally the Company offers Compact Fluorescent and Halogen Lighting under its EcoGreenBulb and REPCO Labels, respectively. The Company sells its products directly to distributors, consumers, businesses as well as to municipalities.
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
Hi Score Corporation
SOURCE Hi Score Corporation