SANTA BARBARA, CA--(Marketwired - May 16, 2013) - STWA, Inc. (
Gregg Bigger, STWA President and CFO, stated, "We have developed interest from European-based international oil pipeline operators. Discussions have advanced to in-depth meetings with entities that are considering implementation of AOT™ Technology to their operations. The overall purpose for this business trip is to meet with these and other energy industry parties in person to discuss details about moving forward. We look forward to face to face meetings to further develop these global opportunities."
"We are taking this opportunity to update our network of direct investors in Europe on recent corporate developments, including our strengthened balance sheet, which produced the best financial statement in the Company's history. We are not looking to fund raise from outside sources. In the past quarter we reported a $6.2 million improvement in our shareholders' equity and cash position that increased by $2.9 million to $4.5 million. These notable financial milestones represent material advancements towards meeting listing requirements for national exchanges," stated Mr. Cecil Bond Kyte, Chairman and CEO of STWA. "These items, coupled with the recently announced release of our first commercial AOT™ Midstream unit off of the assembly line, put STWA at a turning point both financially and operationally. We are now increasing our visibility within the investment community, introducing the Company to European institutional investors interested in taking a position in our Company's stock."
About AOT™ Midstream
AOT™ Viscosity Reduction Systems are a suite of commercial crude oil pipeline flow assurance products designed to be installed at pipeline pump stations in the upstream, gathering and midstream sectors.
AOT™ technology reduces the viscosity of crude oil without the need for heat, chemical or polymer additives. The reduction of viscosity holds key benefits to the energy production and transportation industry. The product holds advantages over currently adopted flow assurance technologies in use around the world today.
AOT™ has been independently verified and tested by numerous third party entities such as the United States Department of Energy. Test reports and related links are available on the Company's website.
"Applied Oil Technology™," "AOT™ Midstream," and "AOT™" are copyrights and registered trademarks of STWA, Inc.
About STWA, Inc.
STWA, Inc. develops and commercializes energy efficiency technologies that assist in meeting increasing global energy demands, improving the economics of oil extraction and transport, and reducing greenhouse gas emissions. The Company's intellectual property portfolio includes 47 domestic and international patents and patents pending, which have been developed in conjunction with and exclusively licensed from Temple University. More information including a company Fact Sheet, logos and media articles are available at: www.stwa.com.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.