Business Editors
"If the decision is made to move forward with the concept, HydroMaid will likely enter into a license agreement providing the appliance company with worldwide rights to manufacture and distribute dishwashers with proprietary technology."Culley W. Davis, chief executive officer of HydroMaid said, "I am pleased with the progress made in developing the initial prototypes since our first meeting and believe the results of the initial tests demonstrate the viability of using the HydroMaid technology to process food waste in a dishwasher.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 at home and abroad, local and regional policies and regulations in the planned target areas, trends in the market for the company's products, variations in the company's cash flow and/or ability to effectively distribute its product, availability of sufficient working capital to manufacture and market HydroMaid units, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.Prototype dishwashers incorporating the HydroMaid technology have already been assembled by the appliance company and testing is underway. The prototype product is scheduled for review by the appliance company's marketing managers in January 2001, and a final decision regarding commercializing the prototype is expected to be made later that month.Davis also stated, "The use of the HydroMaid technology for an appliance other than a garbage disposal represents a significant expansion of the potential for HydroMaid's success."HydroMaid International Inc. manufactures, markets, and distributes the HydroMaid(TM) disposal -- the only garbage disposal system powered exclusively by water pressure. HydroMaid's patented servomechanism conserves energy while reducing the potential damage to silverware accidentally dropped into a disposal.HydroMaid International Inc. (OTCBB: HYII) Monday announced that it has entered into an agreement with one of the largest appliance companies in the world providing for confidential disclosure of HydroMaid's patented technology to allow the appliance company to test the use of the technology in dishwashers.Certain of the statements herein may be forward-looking that involve risks and uncertainties.Additional information regarding any proposed relationship with the appliance company will be forthcoming; however, no further announcements are expected to be made for several weeks, and HydroMaid has no assurance that any agreement will be reached.The HydroMaid carries an unprecedented lifetime warranty on the housing and the stainless steel blades, and a 10-year parts and labor warranty on all remaining components, reflecting HydroMaid's confidence in its product's simple design and sturdy construction.DRAPER, Utah--(BUSINESS WIRE)--Dec. 4, 2000
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 at home and abroad, local and regional policies and regulations in the planned target areas, trends in the market for the company's products, variations in the company's cash flow and/or ability to effectively distribute its product, availability of sufficient working capital to manufacture and market HydroMaid units, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.
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