SUTIMCo International Evaluates Four New University Projects for Multimedia Business Unit
SANTA ANA, Calif., May 29, 2012 /PRNewswire/ -- SUTIMCo International, Inc. (Pink Sheets: SUTI) is pleased to announce that the Company has begun the evaluation process on four new University projects for its Multimedia Business Unit.
In April of 2011, the Company completed the acquisition of SUTIMCo, Inc. (www.SUTI.com) a provider of management services and infrastructure for emerging technology companies based in Santa Ana, CA. As part of the agreement, AquaStar Holdings acquired 100% of the shares of SUTIMCo Inc. in exchange for $9,500,000. SUTIMCo is in the process of evaluating over three dozen technologies for its business units. Once SUTIMCo management is satisfied with the commercial viability of the technology, the Company will enter into a VAA agreement and begin the process of securing new financing to support the growth and product development of the university developed technologies that SUTIMCo manages.
SUTIMCo's early stage management services and infrastructure are provided through strategic Business Units (distinct functional areas that manage and support up to four portfolio companies). The mission of each Business Unit is to finance, grow and sell successful companies as they mature out of the start-up stage and become attractive to larger companies. SUTIMCO plans to operate Business Units in the areas of Quality of Life, Alternative Energy, Food Safety, Environmental Technologies, Advanced Material and Media and Entertainment.
SUTIMCo's Media and Entertainment Business Unit is currently evaluating a Social Navigation Network, which is a unique application in the online mapping market segment, a sports interactive television technology which will give new power to the sports enthusiast, an interactive eBook technology, and a new interactive touch screen game controller to participate in the video game market that is expected to exceed $112 billion by 2015.
As the managing entity, SUTIMCo manages investment dollars and all aspects of the early stage Company's initial activities including product definition, product development, marketing, sales, finance, human resources, and team building. SUTIMCo continues to provide overall developmental and administrative support services to each operating portfolio company until the company can stand alone or be sold. With the financing for each portfolio company coming through the Business Unit, risk is spread among multiple projects all the while increasing the likelihood of success through deployment of SUTIMCo's unique methodology.
The SUTIMCo business strategy avoids the limitations of working solely with one technology; the strategy allows the Company to have access to the greatest minds around the country and it allows the management team to "cherry pick" the very best technologies taking innovation from laboratory to marketplace. The benefit from SUTIMCo is twofold; (one), the Company can realize the immediate revenue generated from the Venture Acceleration Agreements in place with the various Business Units; and (two), SUTIMCo then works with the companies in their development having the option to acquire the "cream of the crop." This allows SUTIMCo, as a management company, to go ahead and look at the various technologies that are coming from all the major universities, assist them in securing funding, develop them and then take an equity position in the best ones.
Currently SUTIMCO is working to fund and operate three Business Units; Quality of Life, Environmental Technologies, which will include its AquaStar Corporation, and Alternative Energy. Although the new business model is tremendously profitable, SUTIMCo's clients do not have the capital necessary to pay SUTIMCo on a timely basis. SUTIMCo must wait for its clients to either raise money or generate revenues in order to receive money from its Venture Accelerator Agreements (VAA). SUTIMCo management believes that the short term risk will pay off as the technologies behind the VAA are based upon both University Research and Government support.
For more information on SUTIMCo, its portfolio companies, and University partners, please visit http://www.suti.com. Please visit http://www.otcmarkets.com/stock/SUTI/financials to review the complete "Letter to the Shareholders" and SUTIMCo financial reports.
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.
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