TORONTO, Jan. 22, 2013 (GLOBE NEWSWIRE) -- PM&E, Inc. (Pink Sheets:PMEA), the developer of highly efficient and lower-cost industrial and consumer solar power generation applications, announced today that in preparation of the commercial launch of its flagship product MPVS GEN 4 solar power panel, it has conducted further testing of the prototypes of the panels. Those tests rendered positive results, affirming the previously projected specifications of the product, underlying the feasibility of the anticipated launch of its production and distribution to consumer and commercial solar power generation markets.
The CEO of PM&E, Inc., Jack Merck stated: "The Company's wholly owned subsidiary Suncetix, Inc. concluded initial industrial testing of its MPVS GEN 4, using lab facilities of one Canadian private solar cell panel manufacturer. Results of the tests confirmed previously calculated lab results of reliability and effectiveness, as well as output specifications of the systems, and ruled out several potential latent development-stage problems. Also, throughout the tests, engineers of Suncetix, Inc. put forward numerous goals needed to be resolved prior to mass production and licensing. These tests represented one of the most important final steps towards preparation of the mass production and distribution of our products, particularly confirming most of our production-related cost assumptions." Mr. Merck added the following remark: "As expected our MPVS in real life conditions performed on the level previously defined by simulations and partial lab tests. We are pleasantly surprised by the proximity of real life results to simulated ones and looking forward to implement additional improvements to the system making it more robust, more efficient and self-reliable in preparation for production and sales."
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees as of 1995. Those statements include statements regarding the intent, belief or current expectations of PM&E, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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