LAS VEGAS, NV, Jan. 05, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Triad Pro Innovators, Inc. (OTCPK: TPII), a leading developer of proprietary devices for the storage of electricity being deployed in golf carts and other industrial applications, is pleased to announce the following final transaction numbers for the recently completed “3a10 transaction” with Continuation Capital:
Total debt and payables retired: $269,535.20
Total shares initially reserved for transaction: 120,000,000
Total shares issued for transaction: 51,815,865
Total Shares returned to treasury: 68,184,135
As originally envisioned, the completion of the 3a10 with Continuation Capital enabled management to pay off a mix of notes. Murray Goldenberg, President of Triad Pro Innovators, Inc., commented, “This transaction allowed management to retire certain outstanding liabilities and direct our focus and efforts toward moving our technology forward and creating a number of other profitable applications, all of which will be protected as intellectual property of the Company.”
Goldenberg added, “The intellectual property of TPII remains the cornerstone of our shareholders’ value, and has undergone significant development in the past year. Through 2020, Triad Pro Innovators successfully built and rigorously tested the first two production models of the SPREE; the world’s most advanced solar electric golf cart, powered by the patent pending Triad Pro eCell. The SPREE comes fully IoT enabled, sending operational and maintenance data for monitoring. This unique innovative dynamic storage element operates with the power train and is expected to deliver best in class performance and could scale to larger electric vehicles as it is further developed on the SPREE platform.”
The golf cart market is expected to reach U.S. $2.3 Billion, of which 41% is projected to be the North American market. Triad Pro Innovators has begun fulfilling orders and intends to make the SPREE a significant part of its 2021 revenue growth.
Also in 2020, Triad Pro Innovators began testing a unique grid storage solution, utilizing the Triad Pro eCell, which maintains its performance down to -50 degrees C, validated through cold chamber testing. Traditional battery technologies cannot operate at temperatures the eCell can reach, and they suffer a reduced power performance of -20% at 0 degrees C and a -50% reduction at -22 degrees C. This ground breaking solution is expected to make a significant impact on diesel fuel usage in remote locations as well as enable more renewable energy use in micro-grids. The production solution is expected to be launched in 2021. Updates to be made in future press releases.
Triad Pro Innovators is also investigating and developing new solutions that utilize the Triad Pro eCell as a differentiator in the market. By combining a highly more efficient manner to provide energy storage for end applications with a more reliable/cost effective backup for local power demands, the Triad Pro eCell acts as the catalyst to enter multiple revenue growth markets in 2021. As these reach production, updates will be made in future press releases.
About Triad Pro Innovators, Inc. (OTC PINK: TPII):
Triad Pro Innovators, Inc. has developed a proprietary device to be utilized in a variety of circumstances to store electricity .The newly developed Triad Pro power supply provides our storage system with tremendous operational flexibility. Using our propriety hardware and software solution, our eCell can be configured to store energy at a rate limited only by the network providing it, and then release that energy in a regulated way based upon the application, which allows for flexibility unknown in current chemical battery-based storage systems. Triad Pro creates and designs renewable energy solutions including Co-Generation and the Rapid-K Power Cells that can be used stand alone or modular as energy demands increase.
FORWARD-LOOKING STATEMENTS
The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding TPII’s plans, objectives, future opportunities for TPII’s services and products, future financial performance and operating results and any other statements regarding TPII’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties, and assumptions, many of which are beyond TPII’s control, and which could cause actual results to differ materially from the results expressed or implied by the statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, and include, without limitation, results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; ability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in our charter documents; and, the uncertainties created by the ongoing outbreak of a respiratory illness caused by the 2019 novel coronavirus that was recently named by the World Health Organization as COVID-19. These and other important risk factors are described more fully in our reports and other documents filed with OTC Markets Group in satisfaction of the company’s obligations as an alternative reporting company. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. Except as otherwise required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
Investor Relations Contact:
info@triadpro.com
714.790.3662