SUTIMCo International Gears Up for a Successful New Year
SANTA ANA, Calif., Jan. 3, 2012 /PRNewswire/ -- SUTIMCo International, Inc. (Pink Sheets: SUTI) is pleased to announce that the Company is well positioned for growth in the new year. SUTIMCo International, having just completed its recapitalization plan for the balance of 2011, is now in position for long-term sustained profitability moving forward in 2012. SUTIMCo International completed the acquisition of SUTIMCo, Inc. in 2011 and as a result, the company has increased its sales and is now profitable.
In order to complete the acquisition and the necessary equity financing of its new business model, the board of directors elected to recapitalize in 2011. SUTIMCo International finished the nine months ended September 30, 2011, with revenues of $2,292,500 and a net profit of over $61,000. The company's increase in sales are a result of Venture Acceleration Agreements signed with various university based technologies.
"SUTIMCo International doesn't plan on slowing down in 2012," stated Fred Rogers, Chairman of SUTIMCo International.
Currently SUTIMCo International and SUTI Holdings have relationships with over 35 universities and is currently working on adding projects from the University of Texas at Dallas, the University of Arizona, the University of California at Santa Barbara, Old Dominion, the University of Maryland, the University of New Mexico, Temple University, George Mason University, the University of Utah, the Wisconsin Alumni Research Foundation, the University of Pittsburgh, and the University of Missouri.
In addition, while no active technology is being evaluated today, Penn State University, the University of Michigan, Michigan State University, Clemson University, Texas Tech, Vanderbilt University, Purdue University, Boston University, Cornell University and the Virginia Institute of Technology are all schools that have working relationships with SUTI Holdings and SUTIMCo International.
Mr. Rogers added, "These relationships with prestigious universities across the country give SUTIMCo International a significant edge."
SUTIMCo chooses universities to contribute the technology based on the following theory:
- The Federal Government provides significant funds for research and has chosen the universities as the official entities to do research thus the technology development has been adequately funded;
- Academic freedom and tenure requirements mean that university researchers are more likely to discover paradigm shifting technologies than other similar sources of technology;
- Research is the primary focus of university professors. It is their job to produce discoveries;
- There is a law that governs how this technology should be handled.
SUTIMCo International management believes that its key to success is reduced cycle time, not just time to market, but actual time to profitability.
For more information on SUTIMCo International, its portfolio companies, and its university relationships, 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, SUTIMCo International can avail itself of the encyclopedic, informal knowledge of the inventor, his experience and his research team.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company is a development stage company that continues to be dependant on outside capital to sustain its operations. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the company's filings with the OTC Markets Group (available at http://www.otcmarkets.com). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.
Contact:
Investor Relations
407-389-5900
SOURCE SUTIMCo International, Inc.
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