VANCOUVER, British Columbia, Oct. 5, 2012 (GLOBE NEWSWIRE) -- Clean Transportation Group, Inc. (OTCBB:CLNZ) (The Company/CTGI) is pleased to announce that with the execution of a Material Definitive Agreement on September 28, 2012 it has acquired all of the issued and outstanding shares of 'Home View Technologies, Inc.' (HVT) of Lindon, Utah whereby HVT becomes a wholly owned subsidiary of CTGI.
Home View Technologies, Inc. (DBA 'Live View Technologies') http://www.liveviewtech.com/ specializes in remote camera installation with live video broadcasting from even the most off-the-grid locations. 'Live View' engineered energy conserving solutions for remote settings that utilize the latest advancements in Internet and satellite connectivity, coupled with solar power, to provide ongoing live video streaming from locations that don't have electricity or hard-wire communications.
Whether you want to check conditions on a busy intersection or a lonely stretch of rural highway, monitor dash cameras in real time, or view your project live from any location on earth 'Live View' has the technology to put cameras where cameras have never gone before.
Key 'Live View' Features:
- Low Power Consumption: our technology runs on less power than a single light bulb
- Green power technology: solar panels that can run on battery backup for ten days without a charge
- High Resolution video
- Unique connectivity technology provides wireless live video streaming from anywhere
- Night Vision with targeted infrared lighting
- Full pan, tilt, and 42x optical zoom functionality
- Climate-controlled camera housing
- Web interface for live camera control and viewing
- Optional online image archival for easy access to historic camera footage
- Access streaming video from any computer or smart phone without any downloads
- Monitor live vehicle feeds while they are in motion, includes GPS coordinates
CTGI has been cleared for trading on the OTC-BB/QB Tier of the OTC market and is awaiting eligibility approval by the Depository Trust Company New York (DTC).
Cancellation of Agreement with Engine Clean Solutions, Inc. (ECSI)
On May 13, 2011, we acquired Engine Clean Solutions, Inc., a private California corporation ("Engine Clean"). In connection with the acquisition of Home View, it was determined that it would be in the best interest of the Company and our stockholders to rescind the acquisition of Engine Clean. Thus on September 30, 2012, we finalized a settlement agreement and mutual release with the two former stockholders of Engine Clean. Under the terms of that agreement, the two former stockholders of Engine Clean returned to the Company for cancellation all stock issued for the acquisition. Also in connection with the rescission of the Engine Clean acquisition, Robert A. Doty resigned as a director on September 26, 2012. Also, Dennis dos Santos has resigned as a director and President. At the time of their resignation, there were no disagreements between either Mr. Doty or Mr. dos Santos and the Company on any matter relating to the Company's operations, policies or practices.
Certain statements contained in the press release above are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. The Company cannot guarantee its future results, levels of activity, performance or achievements. The Company disclaims any obligation or intention to update any forward-looking statement.
Investors will be able to find Real-Time quotes and market Information for the Company on http://www.otcmarkets.com/stock/CLNZ/quote
CONTACT: Clean Transportation Group, Inc. Delbert G. Blewett Interim-President & CEO 604 202-3212; email: firstname.lastname@example.orgSource:Clean Transportation Group, Inc.