Attached files
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| 8-K - FORM 8-K DATED NOVEMBER 4, 2009 - MEDIS TECHNOLOGIES LTD | form-8k_16638.htm |
EXHIBIT 99.1
STATEMENT
BY MEDIS TECHNOLOGIES
NEW YORK CITY (November 4,
2009) . . . . Medis Technologies Ltd. (Pink Sheets: MDTL), a developer
and producer of fuel cells based on its proprietary sodium borohydride
technologies, announced today that current
and former employees of More Energy Ltd. and Medis El Ltd., which are both
wholly owned subsidiaries of Medis Technologies Ltd., initiated liquidation
proceedings in an Israeli court with respect to each such
subsidiary. Medis Technologies Ltd. intends to fully cooperate to
effect the orderly liquidation of each of these subsidiaries. It is
expected that a liquidator will be appointed by an Israeli court.
About
Medis Technologies Ltd.
Medis
Technologies Ltd. (MDTL: PK) (www.medistechnologies.com),
headquartered in New York, is the first company in the world to
market a personal and portable liquid fuel cell capable of providing electrical
power to the mobile electronics marketplace. The Medis fuel cell features a
patented, proprietary fuel formulation that utilizes borohydride to generate
electricity upon activation; it is safe, clean, silent, and recyclable. First
generation products include the Medis 24-7 Power Pack; 24-7 Xtreme Portable
Power Solution; and the Medis Fuel Cell Power Emergency Kit.
This press release may contain
forward-looking statements, which are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. In some
cases you can identify those so-called “forward looking statements” by words
such as “may,” “will,” “should,” “expects,” plans,” “targets,” “believes,”
“anticipates,” “estimates,” “predicts,” “potential,” or “continue” or the
negative of those words and other comparable words. These forward looking
statements are subject to risks and uncertainties, product tests,
commercialization risks, availability of financing and results of financing
efforts that could cause actual results to differ materially from historical
results or those anticipated. Further information regarding these and other
risks is described from time to time in the Company’s filings with the SEC. We
assume no obligation to update or alter our forward-looking statements made in
this release or in any periodic report filed by us under the Securities Exchange
Act of 1934 or any other document, whether as a result of new information,
future events or otherwise, except as otherwise required by applicable federal
securities laws.
CONTACT
Omer
Masud
Medis
Technologies
omerm@medistechnologies.com
212-935-8484