Attached files
file | filename |
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8-K - 8-K CURRENT REPORT DATED FEBRUARY 26, 2010 - REFLECT SCIENTIFIC INC | reflect8kcamrixsaleandenable.htm |
EX-10 - RELEASE AND SETTLEMENT AGREEMENT-ENABLE GROWTH PARTNERS LP - REFLECT SCIENTIFIC INC | rscfegpreleaseandsettlementa.htm |
EX-10 - RELEASE AND SETTLEMENT AGREEMENT-ENABLE OPPORTUNITY PARTNERS, LP - REFLECT SCIENTIFIC INC | rscfeopreleaseandsettlementa.htm |
EX-10 - RELEASE AND SETTLEMENT AGREEMENT-PIERCE DIVERSIFIED STRATEGY MASTER FUND LLC - REFLECT SCIENTIFIC INC | rscfpdsreleaseandsettlementa.htm |
Reflect Scientific Reaches Settlement of Secured Debenture
Orem, Utah -- (MARKETWIRE) --- March 9, 2010, Reflect Scientific, Inc. (OTC BB: RSCF), a provider of diverse products and services for the biotechnology, pharmaceutical and transportation industries announced the settlement of our current debenture.
Reflect Scientific reached an equitable settlement with Enable Capital Management LLC for a debenture that has been past due. The details are included in our most recent 8-K filed with the Securities and Exchange Commission.
Kim Boyce, CEO of Reflect Scientific remarked We are very pleased that we could work with Enable to finalize this agreement. The increase in shareholder equity and substantial reduction in debt was certainly part of the goal. Now that this has been settled we can focus on our new Cleantech initiatives that we announced last week.
Reflects patented zero emission technology, used in reefer [refrigerated] commercial transport trucks, server room cooling and low temperature freezers, addresses a $28 billion market. Our recently announced distribution outlet for the CB-40 trailer refrigeration system greatly expands Reflects market reach. Discussions are in progress with major customers that are embracing the green nature of this technology and the cost savings that it can provide. Reflects management believes these discussions are strong indications of market interest in its technologies.
About Reflect Scientific, Inc.
Reflect Scientific, Inc., based in Orem, Utah, develops and markets innovative, proprietary technologies in cryogenic cooling for the biotechnology, pharmaceutical, medical, and transportation markets. Among Reflect Scientific's products are low temperature freezers and refrigerated systems for laboratory, transportation and server room uses. For more information, visit http://www.reflectscientific.com/.
Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Companys products, increased levels of competition for the Company, new products and technological changes, the Companys dependence on third-party suppliers, and other risks detailed from time to time in the Companys periodic reports filed with the Securities and Exchange Commission.
For more information, visit reflectscientific.com or contact Investor Relations:
Jim Painter
Emerging Markets Consulting, LLC
321-206-6682
jimpainter@emergingmarketsllc.com
www.emergingmarketsllc.com