Aquacell (AMEX:AQA)
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From Jun 2019 to Jun 2024
AquaCell Technologies, Inc. (AMEX:AQA) announced today
that it has filed a Form 10 Registration Statement with the Securities
and Exchange Commission (SEC) on behalf of its Aquacell Water, Inc.
subsidiary, to allow it to become a publicly traded company. AquaCell
Technologies has two operating subsidiaries, Aquacell Water, which
markets and manufactures various water filtration and purification
products for municipal, industrial and commercial use, and AquaCell
Media, which sells advertising on its patented self-filling water
coolers installed in retail locations.
We anticipate setting a record date for the distribution of
Aquacell Water's stock near the end of the SEC review process. Record
holders as of the payment date will receive one share of common stock
in Aquacell Water, Inc. for every share of common stock held in
AquaCell Technologies, Inc.
Mr. James C. Witham, Chief Executive Officer of AquaCell
Technologies, Inc., stated, "We believe that a separation of the
Aquacell Water subsidiary would provide both companies with the
opportunity to focus exclusively on their respective businesses and
their unique opportunities, as well as enable each company to enhance
its strategic, financial and operational flexibility." Mr. Witham
continued, "We anticipate hiring additional key personnel in Aquacell
Water to augment its penetration into the rapidly expanding water
industry."
About AquaCell Technologies:
AquaCell, based in Rancho Cucamonga, Calif., through its Aquacell
Water, Inc. subsidiary, manufactures products for water filtration and
purification. Its products address various water treatment
applications for municipal, industrial, commercial and institutional
applications. These applications range from providing purified
drinking water to processing water for industrial and commercial
manufacturing.
Through its AquaCell Media, Inc. operating subsidiary, the Company
installs its patented self-filling Aquacell 1000 Bottled Water Cooler
Systems free of charge into various locations, including retail
establishments. AquaCell Media retains ownership of the coolers, and
revenue is generated through the sale of targeted advertising on the
band of the cooler's permanently attached five-gallon bottle of
products and/or services pertinent to the location, similar to the
concept of billboard advertising.
Safe Harbor. Statement Under the Private Securities Litigation
Reform Act of 1995.
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any future
results, performances or achievements expressed or implied by such
forward-looking statements. Forward-looking statements include, but
are not limited to, statements about: our ability to continue
relationships with customers; our ability to offer our products at
competitive prices; our ability to maintain our listing on the
American Stock Exchange; and our ability to use the most current
technology for our products.