Hoelter Technologies Holding AG to sell assets to Newfield Energy Corp.
23 December 2005
Hoelter Technologies Holding AG (OTC: HOTK) announced today that as a result of significant litigation that is ongoing in Germany against former officers, directors, and other interested parties, management has found it necessary to take steps to protect the shareholder interest in any remaining assets. The assets have an indistinct value in the USA since they are included in the various litigation in Germany. Dipl.-Ing. Hubert Geis, President of Newfield Energy Corp. has negotiated the turn-over of these assets to Newfield Energy, a Nevada corporation focused on energy and environmental technologies that will operate mainly in Europe, Asia and Arabian countries. Newfield is paying a total of 500,000 shares from it's treasury that will represent twenty (20) percent of the total outstanding shares of Newfield as of the closing of this transaction.
Alfred Habib, President of Hoelter has indicated that the most likely result will be that the shares received from Newfield will be distributed to the remaining shareholders of HOTK after the shares of those shareholders involved in the German litigation have been canceled. Thus the shareholders not involved in the litigation will receive the benefit of this dividend when it is issued. A subsequent announcement will be made when the Board of Directors of HOTK has finalized the dividend plan.
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors including, but not limited to the Company's ability to: (1) obtain sufficient capital or a strategic business arrangement to fund its plan of operations when needed, (2) successfully develop and continuously improve its products and planned products, (3) successfully accomplish its business development and marketing efforts to gain market acceptance for its products, (4) protect its intellectual property rights, (5) build the management resources and infrastructure necessary to support the growth of its businesses, (6) deal with competitive factors and developments beyond the Company's control, and (7) deal with general economic conditions and conditions in the financial, technology and related markets, as well as other matters discussed in the Company's filings with the Securities and Exchange Commission.
Contact: Alfred Habib, President
Phone: +1(775) 831-7648
Fax: +1(760) 200-2647
Source: prnewswire
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