SANTA ANA, Calif., Aug. 4, 2011 /PRNewswire/ -- SUTIMCo International, Inc. (Pink Sheets : SUTI ) is pleased to announce that the Company has entered negotiations with WildCap Energy in which it will receive up to 30% equity interest in WildCap Energy, Inc.
WildCap Energy recently received approval on its S-1 Registration Statement from the United States Securities and Exchange Commission (SEC). As a result, the Company expects to begin trading at $1.00 per share with an initial market capitalization of $10,600,000. WildCap Energy signed a three-year Venture Accelerator Agreement with SUTIMCo International valued at $2,790,000.
WildCap Energy's revolutionary vertical wind turbine design was developed at the University of Arizona by Dr. Israel Wygnanski. The turbine design carries the potential to exceed the power of conventional turbines while offering a significantly lower cost. According to reportlinker.com, the world market for turbines and related products is projected to increase 5.6 percent per year through 2010 to $135 billion. Growth will be driven by the wind turbine sector, which consistently surpassed industry growth estimates from 2004 through 2009.
"The effective registration gives SUTIMCo and its shareholders a potential exit strategy and improves our asset value tremendously," stated Fred Rogers, Chairman of SUTIMCo International, Inc.
For more information on WildCap Energy, please visit; http://www.wild-cap.com
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, SUTIMCo 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.