NEW YORK, May 3, 2010 (GLOBE NEWSWIRE) -- Zevotek, Inc., (OTCBB:ZVTK) (Frankfurt:T5V1), a worldwide direct marketer and distributor of innovative personal and home care items, today announced that the Company's shares are once again listed on the OTCBB. Market maker Spartan Securities Group, Ltd. received notice from FINRA (Financial Industry Regulatory Authority) that Spartan's April 27, 2010 application for OTCBB listing of Zevotek common stock was cleared effective April 30, 2010. Last week, Zevotek announced that its shares started listing on the OTCQB, a newly created OTCBB competitor for stocks of U.S. registered and reporting companies that are current on their reporting to the SEC. Spartan and other market makers recently chose to make markets in Zevotek shares and other OTC companies on the OTCQB, where maintaining listings is less costly for market makers.
Commenting on the announcement, Zevotek's CEO, Rob Babkie, said, "We greatly appreciate the swift action taken by Spartan Securities and FINRA to clear Zevotek's OTCBB listing. I am pleased that Zevotek investors today can see their shares trading on the familiar OTCBB. The OTC marketplace is undergoing changes that are independent of Zevotek's business. I remain committed to maintaining Zevotek's status as a fully reporting public company whose stock trades on a leading OTC exchange."
About the Company:
Zevotek, Inc. plans to market and sell a range of innovative personal and home care items. Zevotek has a license to sell an energy saving compact fluorescent light bulb (CFL) named the Ionic Bulb, a light bulb designed for consumer use by combining the performance features of ionic air cleaning technology with those of a 10,000 hour reduced energy use compact fluorescent light bulb (CFL).The Company sells the Ionic Bulb through TV infomercials and the Internet and plans to market Ionic Bulbs through catalogs, magazines and major U.S. retail and specialty stores. The Company's 1 minute and 2 minute Ionic Bulb TV ads are designed to air on national cable channels, local broadcast channels and TV superstations. Zevotek directly sells the Ionic Bulb to consumers through http://www.newionicbulb.com and www.amazon.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this release with respect to the Zevotek, Inc.'s business, financial condition and results of operations, as well as matters of timing and effectiveness of marketing the Ionic Bulb 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, certain delays beyond Zevotek, Inc.'s control with respect to market acceptance of their products by consumers and retailers like CVS, whether financing will be available, the plans for Zevotek, Inc. to market and sell products as well as certain other risk factors which are and may be detailed from time to time in Zevotek, Inc.'s filings with the Securities and Exchange Commission.
This press release contains forward-looking statements. The words or phrases 'may,' 'intends,' 'expects,' 'estimate,' 'indicate,' 'plans,' 'anticipates,' 'could,' 'if,' 'will,' 'should' or similar expressions are intended to identify 'forward-looking statements.' Actual results could differ materially from those projected in forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Zevotek, Inc. cautions readers not to place undue reliance on such statements. Unless otherwise required by applicable law, Zevotek, Inc. does not undertake, and Zevotek, Inc. specifically disclaims any obligation to update any forward- looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.