Advertisement
News
Advertisement

USA Signal Technology, Inc. (USST.PK) Announces Change of Control, Appointment of New Board and Definitive Acquisition Agreement

Mon, 08/16/2010 - 5:13am
The Associated Press

USA Signal Technology, Inc. (PINKSHEETS: USST) announced today that its majority stockholder, CTFLA, LLC, has sold its control shares in the Company to Healthcare of Today, Inc.

As part of the transaction, Gary Westbrook, USA Signal Technology's ("USST") director and officer, resigned and appointed Hongshin Pan as sole director and President of USST, effective on the closing of the Company's acquisition of Renewable Energy & Water, LLC from Healthcare of Today, Inc. (www.healthcareoftoday.com (http://www.healthcareoftoday.com) ), which was approved at the same time. As previously announced, USST's former operating business has been distributed and continues to operate as USA Signal Technologies, LLC, an unrelated company. With the closing of the acquisition of REW, USST will amend its Articles of Incorporation to change its corporate name.

USST's new holding, Renewable Energy & Water, LLC of Irvine, California (www.renergyandwater.com (http://www.renergyandwater.com) ) ("REW"), is a developer and systems integrator of renewable energy projects and water reclamation solutions. REW accommodates customers' unique needs by using a dynamic combination of technologies and processes including water treatment technologies, anaerobic digestion of waste to create energy and biogas, and fuel cell power plants.

REW integrates commercially proven stationary fuel cell power plant technologies as key components of its renewable energy projects and water reclamation solutions. Fuel cells are quickly emerging as the preferred technology to position large consumers of energy for independence from utilities and grid power. Along with this independence they may provide substantial long term cost savings as well as higher, and often faster, return on investment. Fuel cell power plants are able to generate electricity with 25% higher efficiency compared to conventional fossil fuel plants, with virtually no air emissions.

REW is based in California, which alone represents an approximately $1 Billion waste water market and is highly interested in clean, renewable solutions such as those provided by REW. Another process REW utilizes within its systems, anaerobic digestion technologies, substantially reduces landfill gas emissions.

The company's diverse and accomplished leadership team includes CEO Cliff Bream, a former Fortune 500 executive and graduate of both the U.S. Naval Academy and the Wharton School of Business at the University of Pennsylvania.

Bream says, "As part of a publicly traded company, we will be able to help set a standard, providing sustainable and renewable solutions to long-standing problems while delivering strong shareholder value."

About USA Signal Technology, Inc. (PINKSHEETS: USST) USST (PINKSHEETS: USST) is a public holding company based in Florida, focused on offering a range of renewable energy and water reclamation solutions.

About Healthcare of Today, Inc. Healthcare of Today is a vertically integrated holding company. Founded in 2008, it has since acquired a number of companies, many specializing in the senior health care industry. Its subsidiaries are engaged in a wide range of businesses including: nurse staffing, residential care facilities for the elderly, home healthcare services, home healthcare equipment sales, healthcare information technology, medical equipment, healthcare consulting, insurance, data security, education, alternative energy, and more. Our business strategy allows clients and partners to save both time and money, while accessing the best healthcare products and services the industry has to offer them -- at any stage of life or health. For more information please visit www.healthcareoftoday.com (http://www.healthcareoftoday.com)

FORWARD-LOOKING STATEMENT This announcement is not an offer to sell any USA Signal Technology, Inc. ("USST") securities. Offers for any given security are made only through applicable offering circulars and related supplements filed with the SEC pursuant to Section 13(a), 13(c) or 14 of the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of USA Signal Technology, Inc. ("USST") may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are identified by words such as "intends," "anticipates," "believes," "expects," and "hopes" and includes, without limitation, statements regarding USA Signal Technology, Inc. ("USST") plan of business operations, product research and development activities, anticipated revenues and expenses and potential contractual arrangements and obligations. Forward-looking statements speak only as of the date of the document/oral statement in which it was made. In making any such statements, the person making them believes that his expectations are based on reasonable assumptions; however, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. These forward-looking statements are subject to numerous risks and uncertainties. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements and are mostly out of the company's control. Among these are: general economic conditions, receipt of additional working capital, and acceptability of the company's products in the marketplace as well as other factors set forth in the company's SEC filings. USA Signal Technology, Inc. ("USST") disclaims any intent or obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise.

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading