Triad Pro Innovators, Inc. Completes Reduction of Debt; Moves Forward With Product Development and Roll-Out
Las Vegas, NV - (NewMediaWire) - January 5, 2021 - Triad
Pro Innovators, Inc. (OTCPK: TPII), a leading developer of proprietary devices
for the storage of electricity being deployed in golf carts and other
industrial applications, is pleased to announce the following final
transaction numbers for the recently completed “3a10 transaction” with
Continuation Capital:
Total debt and payables retired: $269,535.20
Total shares initially reserved for transaction: 120,000,000
Total shares issued for transaction: 51,815,865
Total Shares returned to treasury: 68,184,135
As originally envisioned, the
completion of the 3a10 with Continuation Capital enabled management to pay off
a mix of notes. Murray Goldenberg, President of Triad Pro Innovators, Inc.,
commented, “This transaction allowed management to retire certain outstanding
liabilities and direct our focus and efforts toward moving our technology
forward and creating a number of other profitable applications, all of which
will be protected as intellectual property of the Company.”
Goldenberg added, “The
intellectual property of TPII remains the cornerstone of our shareholders’
value, and has undergone significant development in the past year. Through
2020, Triad Pro Innovators successfully built and rigorously tested the first
two production models of the SPREE; the world’s most advanced solar electric
golf cart, powered by the patent pending Triad Pro eCell. The SPREE comes fully
IoT enabled, sending operational and maintenance data for monitoring.
This unique innovative dynamic storage element operates with the power
train and is expected to deliver best in class performance and could scale to
larger electric vehicles as it is further developed on the SPREE platform.”
The golf cart market is expected
to reach U.S. $2.3 Billion, of which 41% is projected to be the North American
market. Triad Pro Innovators has begun fulfilling orders and intends to make
the SPREE a significant part of its 2021 revenue growth.
Also in 2020, Triad Pro
Innovators began testing a unique grid storage solution, utilizing the Triad
Pro eCell, which maintains its performance down to -50 degrees C, validated
through cold chamber testing. Traditional battery technologies cannot operate
at temperatures the eCell can reach, and they suffer a reduced power
performance of -20% at 0 degrees C and a -50% reduction at -22 degrees C. This
ground breaking solution is expected to make a significant impact on diesel
fuel usage in remote locations as well as enable more renewable energy use in
micro-grids. The production solution is expected to be launched in 2021.
Updates to be made in future press releases.
Triad Pro Innovators is also
investigating and developing new solutions that utilize the Triad Pro eCell as
a differentiator in the market. By combining a highly more efficient manner to
provide energy storage for end applications with a more reliable/cost effective
backup for local power demands, the Triad Pro eCell acts as the catalyst to
enter multiple revenue growth markets in 2021. As these reach production,
updates will be made in future press releases.
About Triad Pro Innovators,
Inc. (OTC PINK: TPII):
Triad Pro Innovators, Inc. has
developed a proprietary device to be utilized in a variety of circumstances to
store electricity .The newly developed Triad Pro power supply provides our
storage system with tremendous operational flexibility. Using our propriety
hardware and software solution, our eCell can be configured to store energy at
a rate limited only by the network providing it, and then release that energy
in a regulated way based upon the application, which allows for flexibility
unknown in current chemical battery-based storage systems. Triad Pro creates
and designs renewable energy solutions including Co-Generation and the Rapid-K
Power Cells that can be used stand alone or modular as energy demands increase.
FORWARD-LOOKING
STATEMENTS
The statements contained in this
release that are not historical facts are forward-looking statements as defined
in the Private Securities Litigation Reform Act of 1995. Words such as “may,”
“will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,”
“believe,” “estimate,” “predict,” “potential,” “pursuant,” “target,”
“continue,” and similar expressions are intended to identify such
forward-looking statements. The statements in this press release that are not
historical statements, including statements regarding TPII’s plans, objectives,
future opportunities for TPII’s services and products, future financial
performance and operating results and any other statements regarding TPII’s
future expectations, beliefs, plans, objectives, financial conditions,
assumptions or future events or performance that are not historical facts, are
forward-looking statements within the meaning of the federal securities laws.
These statements are not guarantees of future performance and are subject to
numerous risks, uncertainties, and assumptions, many of which are beyond TPII’s
control, and which could cause actual results to differ materially from the
results expressed or implied by the statements. These statements are not
guarantees of future performance and involve risks, uncertainties and
assumptions that are difficult to predict, and include, without limitation,
results of litigation, settlements and investigations; actions by third
parties, including governmental agencies; volatility in customer spending; global
economic conditions; ability to hire and retain personnel; loss of, or
reduction in business with, key customers; difficulty with growth and
integration of acquisitions; product liability; cybersecurity risk;
anti-takeover measures in our charter documents; and, the uncertainties created
by the ongoing outbreak of a respiratory illness caused by the 2019 novel
coronavirus that was recently named by the World Health Organization as
COVID-19. These and other important risk factors are described more fully in
our reports and other documents filed with OTC Markets Group in satisfaction of
the company’s obligations as an alternative reporting company. Undue reliance
should not be placed on the forward-looking statements in this press release,
which are based on information available to us on the date hereof. Except as
otherwise required by applicable law, we undertake no obligation to publicly
update or revise any forward-looking statements, whether because of new
information, future events, or otherwise.
Investor Relations Contact:
info@triadpro.com
714.790.3662