Business Editors
Certain of the statements herein may be forward-looking that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors, including the risks associated with the effect of changing economic conditions and other risk factors detailed in the company's Securities and Exchange Commission filings.Culley W. Davis, the company's president, reviewed the company's progress in its joint development efforts with Electrolux for a dishwasher that incorporates the HydroMaid blade system.HydroMaid International Inc. (OTCBB: HYII) Friday announced at a Special Meeting of Stockholders, held on Thursday, July 26, 2001, that the stockholders approved an amendment to the company's Articles of Incorporation to increase the authorized number of shares from 30 million to 40 million.Davis also reported that (1) the company is still in discussions with a national homebuilder that has an interest in installing the HydroMaid in its new homes, (2) several large appliance companies are assessing the HydroMaid for potential distribution, and (3) negotiations are underway with a potential distribution partner in Japan.DRAPER, Utah--(BUSINESS WIRE)--July 27, 2001The company plans to meet with Electrolux in the near future to negotiate licensing terms, and anticipates that production of dishwashers utilizing HydroMaid's technology will likely occur within 12 to 18 months if an agreement is reached.
Certain of the statements herein may be forward-looking that involve risks and uncertainties. In such instances, actual results could differ materially as a result of a variety of factors, including the risks associated with the effect of changing economic conditions and other risk factors detailed in the company's Securities and Exchange Commission filings.
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