WOODWARD, OK -- (PINKSHEETS) - December 30, 2006 -- Advanced Powerline Technologies, Inc., (Pink Sheets: APWL - News) announces today that it is ending 2006 by signing an agreement with a creditor to retire over 644,000 dollars of company debt.
Advanced Powerline Technologies, Inc. (APT), reports today that it has successfully negotiated an agreement to provide a major creditor with nearly 300 quantity APT products in exchange for the retirement of over $644,000 of existing company debt. The products involved include a mixture of flat panel LCD High Definition Television sets (HDTV) with built in ATSC tuners and flat panel LCD monitors. All the products feature superior components that work together to produce stunning video quality, because it's what's inside that countsTM. A spokesman for APT said, "We are very happy with this agreement because we believe it provides our company with the maximum advantage for the assets we had invested in our existing inventory. We believe this enhances the value of our company for all shareholders as we move into 2007."
Previously, APT signed a deal with another creditor in June to retire over $500,000.00 in debt in return for 500,000 shares of stock, retiring debt at a ratio of just over $1 per share. Taken together, APT has eliminated over 1.15 million dollars in debt in 2006.
The company spokesman further stated, "We believe we have made great strides in 2006, and we look forward to an even stronger 2007. While APT intends to continue to offer high quality HDTV sets, the company plans to renew its focus on Power Line Communication (PLC) and Broadband over Power Line (BPL) technology. We are confident that this will lead to a bright future into 2007 and beyond."
Advanced Powerline Technologies, Inc.'s principal business focus is to create and develop Broadband over Power Line (BPL) and Power Line Communications (PLC) friendly devices, products and services. The company's principal products at this time are liquid crystal display (LCD) digital televisions with high definition tuners (HDTV). The company intends on marketing the sales of High Definition Digital Televisions (HDTV) internationally and domestically. Upon the completion of research, development, and the verification of test results of the company's Broadband over Power Line (BPL) and Power Line Communications (PLC) devices, the company intends to utilize the technology within the existing product platforms to enhance their capabilities. Advanced Powerline Technologies, Inc.'s main products will become Broadband over Power Line (BPL) and Power Line Communications (PLC) friendly devices with the Company's related hardware and system service.
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Advanced Powerline Technologies, Inc., (the ``company''), as well as those contained herein, that are not historical facts are ``forward-looking'' statements within the meaning of Section 21E of the Securities and Exchange Act of 1934, and because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief, or current expectations, estimates, or projections of the company, its directors, or its officers about the company and the industry in which it operates and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the company's strategies regarding growth and business expansion, including future acquisitions; (b) the company's financing plans; (c) trends affecting the company's financial condition or results of operations; (d) the company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; and (f) the company's ability to respond to changes in customer demand and regulations. Although the company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words ``expects,'' ``anticipates,'' ``intends,'' ``plans,'' ``believes,'' ``seeks,'' ``estimates,'' and similar expressions are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix, and the geographic mix of sales.
The company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events, or otherwise.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this advertisement are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, governmental approval processes, the impact of competitive products or pricing, technological changes, and the effect of economic conditions.
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CONTACT:
Advanced Powerline Technologies, Inc.
Christopher Holley, Vice President Investor Relations
Telephone (310) 544-8894
E-mail: [email protected]
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