Lil
03-08-2006, 09:48 AM
VALENCIA, CA -- (MARKET WIRE) -- 03/08/06 -- ConectiSys Corporation (OTC BB: CNES), a
developer of automatic meter reading technologies, announced today that its
automatic meter reading Case Study has been submitted for review to its
Local Utility Distribution Company (UDC) and other related industry
concerns.
A recent request for information from the Company's local UDC is expected
to reveal that the use of the Company's H-Net(TM) automatic meter reading
system exceeds the net present value of manual monthly meter reading
systems. The Company believes that its research has demonstrated that, on
average, single manual monthly meter reading costs are nearly twice that of
the costs of the Company's H-Net(TM) automatic meter reading system for
streaming time of use data (STOUD) of 2,880 meter reads during a standard
monthly reporting period (<a
href="http://www.conectisys.com/Investor_Relations/Marketing/2006/022406_AM
R Case Study.pdf">See AMR Business Case Study).
The Company's fundamental development philosophy has been to deliver added
value to the utilities market. The Company's product design goals have been
to out-perform metering operations at a lower cost while delivering
real-time of use energy consumption data.
Additional information can be found in the Company's March 2006 Monthly
Report to shareholders. The Monthly Report discusses, among other things,
recent pilot program developments and marketing efforts. The Monthly Report
is available on the Company's website at (<a
href="http://www.conectisys.com/Investor_Relations/Monthly_Reports/Volumes_
2006/Volume_2/030706_Montly Report_ESQ.pdf">ConectiSys.com).
In Other News
The Company has become aware of certain rumors alleging that it is in the
process of entering into a transaction with General Electric Co. The rumors
appear to have originated from an electronic mail communication allegedly
sent by the Company's investor relations personnel. This purported
communication is a forgery and was not sent by Company personnel. The
Company denies the existence of a transaction with General Electric Co.,
either pending or otherwise. It is the Company's policy to neither confirm
nor deny rumors regarding potential or pending business transactions.
Further, it is the Company's policy to divulge information regarding a
business transaction only after the business transaction is formally
entered into. In addition, any communications by the Company regarding its
business transactions will only be through formal channels, such as press
releases or filings made with the U.S. Securities and Exchange Commission.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein and in the Monthly Report that are
not historical are forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from
those expressed in the forward-looking statements including, but not
limited to: the level of cost-effectiveness and efficiency of the Company's
H-Net(TM) automatic meter reading products or technologies; changes in the
Company's policies regarding communications with shareholders and the
general public; the success or failure of the Company's marketing efforts
and the particular efforts to be employed; the Company's ability or
inability to commercialize, sell, license or further develop its H-Net(TM)
automatic meter reading products or technologies; and other risks detailed
from time to time in the Company's periodic reports and other filings with
the Securities and Exchange Commission.
Investor Relations:
Luca S. Spigno
InvestorRelations@ConectiSys.com
(661) 295-6763 Ext 204
developer of automatic meter reading technologies, announced today that its
automatic meter reading Case Study has been submitted for review to its
Local Utility Distribution Company (UDC) and other related industry
concerns.
A recent request for information from the Company's local UDC is expected
to reveal that the use of the Company's H-Net(TM) automatic meter reading
system exceeds the net present value of manual monthly meter reading
systems. The Company believes that its research has demonstrated that, on
average, single manual monthly meter reading costs are nearly twice that of
the costs of the Company's H-Net(TM) automatic meter reading system for
streaming time of use data (STOUD) of 2,880 meter reads during a standard
monthly reporting period (<a
href="http://www.conectisys.com/Investor_Relations/Marketing/2006/022406_AM
R Case Study.pdf">See AMR Business Case Study).
The Company's fundamental development philosophy has been to deliver added
value to the utilities market. The Company's product design goals have been
to out-perform metering operations at a lower cost while delivering
real-time of use energy consumption data.
Additional information can be found in the Company's March 2006 Monthly
Report to shareholders. The Monthly Report discusses, among other things,
recent pilot program developments and marketing efforts. The Monthly Report
is available on the Company's website at (<a
href="http://www.conectisys.com/Investor_Relations/Monthly_Reports/Volumes_
2006/Volume_2/030706_Montly Report_ESQ.pdf">ConectiSys.com).
In Other News
The Company has become aware of certain rumors alleging that it is in the
process of entering into a transaction with General Electric Co. The rumors
appear to have originated from an electronic mail communication allegedly
sent by the Company's investor relations personnel. This purported
communication is a forgery and was not sent by Company personnel. The
Company denies the existence of a transaction with General Electric Co.,
either pending or otherwise. It is the Company's policy to neither confirm
nor deny rumors regarding potential or pending business transactions.
Further, it is the Company's policy to divulge information regarding a
business transaction only after the business transaction is formally
entered into. In addition, any communications by the Company regarding its
business transactions will only be through formal channels, such as press
releases or filings made with the U.S. Securities and Exchange Commission.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements contained herein and in the Monthly Report that are
not historical are forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from
those expressed in the forward-looking statements including, but not
limited to: the level of cost-effectiveness and efficiency of the Company's
H-Net(TM) automatic meter reading products or technologies; changes in the
Company's policies regarding communications with shareholders and the
general public; the success or failure of the Company's marketing efforts
and the particular efforts to be employed; the Company's ability or
inability to commercialize, sell, license or further develop its H-Net(TM)
automatic meter reading products or technologies; and other risks detailed
from time to time in the Company's periodic reports and other filings with
the Securities and Exchange Commission.
Investor Relations:
Luca S. Spigno
InvestorRelations@ConectiSys.com
(661) 295-6763 Ext 204