ALBUQUERQUE, N.M., Oct. 6, 2009 (GLOBE NEWSWIRE) -- AccessKey IP, Inc. (OTCBB:AKYI ), CEO, George Stevens, issued a letter to shareholders today. The letter reads as follows:
Dear Shareholders of AccessKey IP:
In the last few weeks we have accomplished many positive initiatives and achieved major goals, while at the same time we have had to make some very difficult choices. I wish to thank Bruce Palmer for a herculean effort in the uplifting from the Pink sheets to the OTC/BB. Not only did he accomplish this in record time but also under budget.
We continue to strive for penetration into the U.S. markets, but understand that under the current climate it is difficult at best, because the major retailers are not accepting new vendors, nor are they issuing purchase orders for product. Their forecasting is pessimistic at best.
We have however, penetrated all the major retailers and etailers in Canada and continue to get excellent reviews and comments regarding our product line and services. Unfortunately, as a small company with limited capital, we have not been able to properly market our products or gain market branding to the extent we desire.
We have worked very hard the last three years to design, develop and manufacture new products in both the consumer electronics space and the IPTV space. The Set Top Box and its encryption are completed, now we have to sell it. Large TV manufacturers, production and postproduction movie facilities as well as content providers have expressed a high degree of interest. Frankly, if our current partners cannot or will not sell the product then we will focus our efforts on developing new channels of distribution.
The current market trends, compounded by the difficulties in the financial and credit markets have made financing or the ability to attract financing extremely difficult. Sure we have negotiated or rewritten some of our outstanding debt, but the fact remains that we still have significant debt, which makes it difficult to attract the type of financing we require or desire.
So where does that leave us, what options did have? Sure, if we increase the outstanding it will dilute ones position. But what are the alternatives? Let the company die a slow death because we did not use every available tool in our box to facilitate the growth? Wait around and hope for the best? I would rather go down fighting than just let it die. So for those of you who feel it necessary to threaten my office and me personally, go for it. The game has only started and my intent is to win and for everything one does, there is a price.
Respectfully;
George Stevens, CEO
About AccessKey IP, Inc.
AccessKey IP, Inc. is a developer of cutting-edge technologies and best-of-breed products tailored to address the market opportunities created by the explosive growth of digital communications, entertainment-related services and specific consumer electronics platforms. AccessKey IP's AccessKey(TM) products, powered by the Company's patented technology, provide complete access to the coveted "Triple Play" Set Top Box (voice, video and data) and "Quadruple Play" Set Top Box (voice, video, data and wireless) offerings of cable, telecom, satellite and broadband service providers. The Company's AccessKey Home(TM) and portable flash drive-sized AccessKey PC(TM) allow subscribers to "channel surf" streaming "HD Quality" television content (IPtv), navigate the internet, watch Video on Demand (VOD) offerings, play video or internet-based games, listen to music, make phone calls (VoIP), video conference, run a full array of computing applications, securely store data and more, all from a single device and service provider network. Its wholly owned subsidiary TeknoCreations was founded to participate in the explosive growth of Consumer Electronics and Business security needs. TeknoCreations designs high quality products with attractive pricing to enhance the consumer's favorite electronics products and the expanding security needs of corporate America.
The AccessKey IP logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4945
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of AccessKey IP, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
FOR INVESTOR INQUIRIES CONTACT: AccessKey IP, Inc. Bruce Palmer (310) 734-4254, ext. 105 FOR SALES RELATED INQUIRIES CONTACT: AccessKey IP, Inc. Grant Stevens Director of Sales & Marketing (505) 999-1089 grantstevens@accesskeyip.com
Please visit the Company's websites www.accesskeyip.com, www.teknocreations.com