MANCHESTER, N.H., April 19, 2011 /PRNewswire/ -- QED Connect, Inc. (otc: QEDND), a New York corporation ("QED Connect"), is pleased to announce that all filings required by the OTC Markets have been updated. QED's status was upgraded today to OTC Pink Current Information applying to companies following International Reporting Standards and/or the Alternative Reporting Standards.
QED management is moving forward with implementing its re-organization strategy to secure financing for its portfolio of strategic partners and acquisitions. Completing corporate filings was the next step in positioning the Company.
The Company's Joint Venture (Sofame Energy) partner, Sofame Technologies Inc. (TSXV: SDW), a leading manufacturer of environmentally efficient industrial hot water systems and cost effective heat recovery equipment, recently reported that several heat recovery projects developed over the last eighteen months are currently in final negotiations to become equipment orders. No specifics are available at this time, however, management of Sofame Energy has represented to QED Connect that potential equipment orders worth over $1m are anticipated but not guaranteed to close during the 2nd quarter of 2011.
Additionally, the Sofame website has been updated www.sofame.com with product information, and a trade article on an Ivy League University's installation of the Sofame system including a Percotherm® which reported an 11% goal for annual savings in fuel consumption.
The Company's acquisition target, Nazz Productions Inc. ("Nazz") is currently showing "Good Day For It" at screening in Northern CA, Philadelphia, Nashville and LA. The film is receiving rave reviews and management of Nazz has informed QED Connect that Nazz is expected to finalize US distribution this quarter.
At the recent Sonoma International Film Festival (SIFF), the film received the audience favorite feature award. The attached link is from the Philadelphia showing:
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; and (vii) other risk factors.
SOURCE QED Connect, Inc.