June 29, 2015 – Vancouver, British Columbia, Canada – Empower Technologies Corporation (TSX.V: EPT) (“Empower” or the “Company”), after acquiring AIC Global Communications Inc. (“AIC”) for almost two years, the management of its wholly-owned subsidiary AIC follows the prevailing business environment to change its focus from brick and mortar to web based online B2C (Business to Consumer) and B2B (Business to Business) business model. The new business plan calls for shutting most of its retail locations by the end of June, 2015 except its flagship store in Aberdeen Centre in Richmond, BC. AIC will focus the sales and marketing of its home and business telecom products and services to web based online sales and marketing channels. Most recently, AIC has commenced a major upgrade of its VoIP and cloud PBX infrastructure. AIC expects the telecom system infrastructure upgrade will complete by September, 2015. By then the system will be much more robust and advance. AIC website will be rebuilt into an ecommerce site where consumers and business customers can purchase any of the AIC home and business products and services online. AIC will also strengthen the customer service and technical support through web/online and phone supports. Currently AIC is seeking proposals from web developers to redesign and to redevelop its current website into a full fledge cutting edge ecommerce site.
For the Company’s growth plan, Empower continues to search and to identify new acquisition opportunity that can expand its sales channels and increase revenue. Currently, there are no new acquisition targets identified yet.
The Company is still in the process of pursuing its handwriting recognition patent licensing opportunity. For more information on the stylus based handwriting recognition Utility Patent granted to Empower, please visit http://www.uspto.gov/and search for US Patent No. 7,280,695 titled “System and Method of pen-based data input into a computing device”. The Company will vigorously protect its stylus based handwriting recognition Utility Patent to exclude anyone from infringing or misusing the Utility Patent without first obtaining a proper license and permission from Empower. The Company will provide further update when the management has taken concrete step to pursue the licensing of its handwriting recognition patent.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the expected benefits of the acquisition of AIC are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Empower’s expectations include actual sales results, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, and other risks detailed herein and from time to time in the filings made by Empower with securities regulators. Although Empower has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date of this news release. Empower disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Empower Technologies™
Founded in 2000, Empower Technologies Corporation (TSX.V: EPT) is the holding company for Empower Technologies, Inc. and its subsidiary Empower Technologies (Canada) Inc. and AIC Global Communications Inc. Empower Technologies and its subsidiaries have transformed from an embedded technology group of companies to a full-fledged revenue producing enterprise through its subsidiaries. Empower Technologies as a group focuses on Internet of Things economy that caters to communication, VoIP service, TV and media, IT, security and surveillance, military, automotive and transportation, healthcare, industrial control and consumer electronics industries. For more information, please visit www.empowertechnologies.com.
Empower Technologies group of companies’ brands are “AIC”, “LEOs®”, Linux-based embedded operating systems, “BullsEye”, Real-Time Video Stabilizer, “PowerPlay™”, smart consumer electronics.
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Chairman, President and CEO
Empower Technologies Corporation
Suite 951 – 409 Granville Street
Vancouver, BC, Canada V6C 1T2
Empower Technologies, LEOs, PowerPlay and BullsEye are the trademarks of Empower Technologies, Inc. AIC is the trademarks of AIC Global Communications Inc. All other brands are trademarks of their respective owners.