DANBURY, Conn., May 14 /PRNewswire-FirstCall/ -- Solomon Technologies, Inc. , announced today that its annual shareholder meeting will be held at the offices of Shipman & Goodwin, One Constitution Plaza, Hartford, Connecticut 06103 on Thursday, May 22, 2008, at 1:00 PM EDT. Peter W. DeVecchis, President of Solomon commented, "We look forward to the opportunity to meet with our shareholders and discuss the progress their company has made over the last eighteen months. Aside from conducting business related to the election of the Board of Directors and the proposal to increase our authorized common shares, immediately after the formal meeting we will be providing an overview of the Power Electronics business as well as an overview of the intellectual property in our Motive Power division." Mr. DeVecchis continued, "As we have often emphasized, an important element of our strategy is to integrate the unique capabilities of our intellectual property with the expanded resources resident in our acquired Power Electronics businesses. The engineering and technical capabilities of the Company have grown substantially since our first acquisition in August of 2006. We want our shareholders to understand the focus of our business in the power markets and specifically the many opportunities for all of our technology and in the alternative and renewable energy segments." Mr. DeVecchis continued, "We will also introduce the Chairman of our Advisory Board, Mr. James Dunn, who will present an overview of the various opportunities before the Company. We will also update the audience on our ongoing strategy for growing the Company and reaching our goals over the next twenty four months. We will have available details of how the various technologies compete in the market place, examples of their use in various applications, and information on the genesis of our intellectual property patents and displays of our Electric Wheel(R) technology. A brief question and answer session will follow." Due to the potential for significant shareholder turnout we have established a link on our homepage www.solomontechnologies.com labeled "2008 ANNUAL MEETING RSVP" and are asking shareholders to indicate whether or not they will attend in person so we may provide comfortable accommodations for all attendees. Information about Solomon Technologies, Inc.: Solomon Technologies, Inc., through its Motive Power and Power Electronics divisions, develops, licenses, manufactures and sells precision electric power drive systems, including those utilizing its patented Electric Wheel(R), Electric Transaxle(TM) and hybrid and regenerative technologies as well as direct current power supplies and power supply systems requiring high levels of reliability and ruggedness for defense, aerospace, marine, commercial, automotive, hybrid electric and all electric vehicle applications. FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding Solomon Technologies, Inc. in this release that are not historical in nature, particularly those that utilize terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes," or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which management has derived from the information currently available to it. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Important factors known to management that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in the Company's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and the Company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Solomon Technologies, Inc.
Peter DeVecchis, 727-859-4447
www.solomontechnologies.com
or
Crescent Communications
David Long, 203-226-5527
|
