Industrial Nanotech (PK) (USOTC:INTK)
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Industrial Nanotech, Inc. (Pink Sheets:INTK), an emerging global leader
in nanotechnology, today provided a clarification of the press release
dated March 27, 2008.
“We are not opening a chain of retail stores
selling our product," states Stuart Burchill, CEO/CTO of Industrial
Nanotech, Inc. “We are taking greater control
of our supply chain and capturing an additional existing revenue stream
by opening small, regional warehouse/distribution centers, shipping our
product by low cost bulk transport to these centers, then shipping
individual orders within the region from these facilities by our regular
carrier, DHL. Revenues we currently collect as shipping and handling
charges from our customers, but currently pay to third party fulfillment
centers to process orders, would become the revenue of these centers.
Based on current sales volumes and growth rates, we expect them to be
profitable at opening. The centers will also offer counter sales for
product pick up and local walk-in customers.”
Mr. Burchill continues, “In addition to
capturing a significant additional revenue stream, this lowers the cost
of the DHL charges to the customer, therefore reducing overall cost to
customer, and reduces delivery times due to the closer proximity of the
product to the customer.”
About Nansulate(R)
Nansulate(R) is the Company's patented product line of specialty
coatings containing a nanotechnology based material and which are
well-documented to provide the combined performance qualities of thermal
insulation, corrosion prevention, and resistance to mold growth in an
environmentally safe, water-based, coating formulation. The Nansulate(R)
Product Line includes both industrial and residential coatings.
About Industrial Nanotech, Inc.
Industrial Nanotech, Inc. is quickly emerging as a global nanoscience
solutions and research leader. The Company develops and commercializes
new and innovative applications for nanotechnology. Additional
information about the Company and its products can be found at their
websites, (http://www.industrial-nanotech.com)
and (http://www.nansulate.com).
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: This release includes forward-looking statements made pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 that involve risks and uncertainties including, but
not limited to, the impact of competitive products, the ability to meet
customer demand, the ability to manage growth, acquisitions of
technology, equipment, or human resources, the effect of economic and
business conditions, and the ability to attract and retain skilled
personnel. The Company is not obligated to revise or update any
forward-looking statements in order to reflect events or circumstances
that may arise after the date of this release.