ALBUQUERQUE, N.M., Oct. 13, 2009 (GLOBE NEWSWIRE) -- AccessKey IP, Inc. (OTCBB:AKYI), issued the following statements today which reads as follows:
In the consumer electronics sector certain aspects of the business model can have a critical impact on the success of any business. In most cases, the key is competitive advantage, either technologically or in time to market, which creates brand awareness and in turn creates market share.
AKYI/TeknoCreations has developed proprietary patented technology, which will launch a number of potentially market changing products. Before we can do so and be assured of our ability to bring these products to market with the level of production and distribution support required, we have had to re-evaluate our business model. In particular, we have had to review our financial strategy in light of changes to terms being thrust upon us by our existing and potential larger corporate retail clients.
In today's economy no one has to explain that funding and careful step by step progressions must be done in a methodical manner and with great caution. There are areas of expansion that are in need of R&D funding. In anticipation of this, we have increased the numbers of authorized shares that we may issue if and when such funding is required in the future. This will be done only and if the issuance of more shares is in the best interest of the company and will achieve the desired financial outcome. It is not the Board's intention to issue these authorized shares at this time or in the immediate future. It is however, the Board's intention to explore all avenues that will take us from where we are today to greater sales and increased profitability. Our investors should keep in mind that these are authorized shares and not issued shares.
Despite the difficult current economic climate, AKYI/TeknoCreations has continued to aggressively invest in the design and development of new products. We are currently negotiating strategic alliances to build on our existing capability for product manufacture, sales and distribution. These alliances when completed will substantially increase our production and sales capability without diluting or changing our ownership. We have also actively and intelligently expanded our product line offerings and will shortly make these public. I anticipate much excitement when this information is released.
The management of this company is hands-on and you may be assured that we are acutely aware of the stock price since 'uplisting', as well as corporate debt ratios. We believe that our actions will be in the company's best interest and establish AKYI/TeknoCreations as a successful and profitable business. The actions and requirements of the retailers in this economy have made us change the ways in which we can interact with the market and we are responding. We are moving with these changes to have the most positive impact for the company and our shareholders.
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.
Please visit the Company's websites www.accesskeyip.com, www.teknocreations.com