Advanced Medical Technologies to Acquire Technology That Produces Pure Drinking Water from Air
Advanced Medical Technologies, Inc., has signed an agreement with Tealaw Investments, Inc., manufacturer of the proprietary COOL Water 2001(TM) water machine, the only available technology that produces pure drinking water directly from the air.
"This is the only commercially available technology that produces pure drinking water directly from the air to your glass. The $35 billion-dollar bottled-water industry worldwide continues to grow as water quality concerns, fitness and health awareness increases," said David Young, President of Tealaw Investments, Inc.
The machine, capable of producing 7 to 10 gallons per day of pure drinking water, creates water from the air around us through patented atmospheric water vapor processing technology, resulting in an unlimited bacteria and virus-free potable water supply. Over 1000 distribution licenses are under negotiation internationally with in excess of 48,000 machines, with a sales price of $950 each, currently on order. Production and delivery of these machines is scheduled to begin in March with a larger commercial version to follow by the third quarter of 2001.
A spokesperson for The Natural Resources Defense Council said, "In the U.S. alone, more than 900,000 people become ill each year from water-borne diseases and as many as 900 will die. As bad as the situation is in the United States, it is worse in many other developed countries and absolutely frightening in Third World countries."
Dave Zosiak, President of Advanced Medical Technologies, Inc. added, "We are extremely excited by this opportunity to build shareholder value. The development team of engineers is among the best in the world in the field of pure water production and they are completely focused on generating a pure water supply for everyone."
Stephen Le Bleu, co-inventor of the technology and Chief Executive Officer of Tealaw Investments, Inc., is passionate about the Company's pure water technology and its corporate mission. He goes on to say, "The facts surrounding the availability of pure water are quite alarming when you consider that 1.2 billion people in developing countries do not have access to safe water, 25 million people die every year from diseases contracted by contaminated water, and water-borne diseases are the principal cause of death of children under 5 years of age in Central America. And, we can deliver the highest quality water supply for much less than the current cost of bottled water."
The agreement will require ADMD to issue 6 million common shares for the acquisition of the technology license, bringing the total issued and outstanding to approximately 20 million common shares, and is subject to shareholder approval.