Water Technologies International, Inc. Grants Extension to Karma USA, Inc. and Disruptive Technologies, Inc. on China Deal
The Board of Directors has Granted a 45 Day Extension to the Chinese Partners Expiring on February 15th, 2015
PORT ST. LUCIE, FL / ACCESSWIRE / January 15, 2015 / Water Technologies International, Inc. (OTC Pink: WTII) (WTII), the leader in the technology in atmospheric water generator's production and design, announced today that it has granted Karma USA, Inc. and Disruptive Technologies, Inc. an extension under the performance contract signed in 2014. The agreement was to be finalized by December 31st, 2014 and in the agreement the Board of Directors had an option to grant a 90 day extension.
Water Technologies granted the extension based on expected financing by Karma Leasing, Ltd. based in Beijing and Tianjin, China. The Company expects the financing and orders for the largest commercial AWG's, the WFC-160, which can produce over 3,000 gallons per day of pure drinking water. The additional licensing agreements are based on packaging and selling the atmospheric water through some of the largest retail store chains throughout China. Once the commercial units gain traction the home and office units may offer an opportunity to be sold with financing in highly populated cities throughout China.
Karma USA, Inc. and Disruptive Technologies, Inc. have been working on the Emergency Water Resources for the Disaster Relief market as a government solution providing drinking water after earthquakes, during times of drought. The largest units will be mounted on trucks and can be deployed during emergencies.
Mr. Tudor, Water Technologies' CEO, said, "I see China as a massive market for our commercial Atmosphere Water Generators as well as our smaller home and office units. Providing a solution to the country's clean water problems for drinking and agriculture. By granting this extension the Board of Directors believes the financing will be complete in short period of time. Then our company can push forward our water generation and filtration solutions in China and abroad."
About the Company
Water Technologies International, Inc. and its wholly owned subsidiaries, GR8 Water, Inc. (Great Water) and Aqua Pure International, Inc. (Specializing in Filtration Systems) are engaged in the manufacture and distribution of technologically advanced Atmospheric Water Generators (AWG). These unique devices utilize a patent pending air purification input system to produce clean, great-tasting, safe water from the humidity in the air. GR8 Water makes freestanding water factory units for the home or office and large, industrial-sized water units using a modular design that can produce up to thousands of gallons of water each day from ambient air. GR8 Water strives to make safe drinking water available to everyone on the planet, making the world a better place in which to live while nurturing the environment.
The Company has patents issued and patents pending and expects additional patents to be issued by the USTPO. It has also filed globally through the Patent Cooperation Treaty. Its "Water village" trademark has been issued by the USPTO.
For additional information on the Company visit the website at www.gr8water.net and follow @GR8_H2O on Twitter (https://twitter.com/Gr8_H2O). For product line information visit the product slick sheets at http://www.gr8water.net/products/product-slick-sheets.
Statement as to Forward-Looking Statements.
Forward-Looking Statements
Certain statements in this 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 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 fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors. We assume no obligation to update the information contained in this news release.
CONTACT:
For Further Information Contact:
Investor Relations for Water Technologies International, Inc.
Gerald Kieft
WSR Communications
772-219-7525
IR@WSRcommunications.com
http://wsrcommunications.ir.stockpr.com/gr8water/overview
SOURCE: Water Technologies International, Inc.
