ALBUQUERQUE, N.M., Feb. 5, 2009 (GLOBE NEWSWIRE) -- An Open Letter from AccessKey IP (Pink Sheets:AKYI) President:
It goes without saying that the economic results of last year are the challenges we face today. The market continues to struggle, and we move forward trying to get our PPS and market cap in line with the potential of the company.
I can appreciate everyone's enthusiasm to know what the results were for the Holiday season and last year. Typically within 30-45 days after a quarter closes, we are in a position to release financial results. However, consider that this is also our year end and further consider we are preparing for a two year audit for submission to FINRA and SEC with the intention of up listing to the OTC BB. We have been advised NOT to release any financial information at this time so as not to conflict with or jeopardize this project.
We have undertaken a very aggressive schedule to accomplish our audited financials and up listing to the BB. I expect to meet our goal to submit documentation to the SEC and FINRA by the end of Q1 and file our Form 10. The up listing of course is subject to approval.
What I can tell you is that we met our annual revenue projections of $3M. This includes development revenues from our set top box initiative as well as our TeknoCreations InCharge product line. We did in fact run out of InCharge products over the Holidays and are currently expecting stock replenishment within a couple days.
Our set top box joint venture with CSI is close to completion. We are in the final stages of customizing our middleware, which is the interface between the box and the TV. I expect this to be finalized in approximately 30 days at which time we will be in a position to introduce our revolutionary, unique and proprietary advanced security encryption technology to the market place.
TeknoCreations has introduced an exciting new consumer electronics product line, the TekCase. We expect some of the TekCases to hit the market within 90 days. Our TekCases are a patent pending premium line of cases for smart phones and gaming devices which will extend the battery life of these devices up to 2.5 times. The initial TekCase targets the Nintendo DS Lite, which is the largest handheld gaming platform on the market. The response and excitement over these products has been enormous. It has opened additional markets to us and we expect significant opening orders. We are currently also working on the next generation gaming products which include the Nintendo DSi.
AKYI has evolved through several business strategies and management changes. The company is focused on the rapidly emerging IPTV industry and Consumer Electronics industry. Corporate changes don't always happen as rapidly as we may like. We have some "legacy" issues we continue to work through; a "pump and dump" mentality we will no longer tolerate; and a reputation of "smoke and mirrors" from which we have distanced ourselves. The fact is that we have REAL products, REAL revenue and REAL profitability. As we move forward through our audit and become a fully reporting company, these facts will become evident.
For those shareholders that have been with us for a while, I thank you for your continued support. For our newer shareholders, I ask that you have patience as we move forward. You have a dedicated management team with one goal; raising corporate awareness; building on product identity; which in turn will properly reflect in our share price and market cap. The mission is success.
Respectfully;
Bruce Palmer, President
About AccessKey IP, Inc.
AccessKey IP, Inc. is a developer of cutting-edge technologies and best-of-breed products tailored to address the market opportunities created by the explosive growth of digital communications, entertainment-related services and specific consumer electronics platforms. AccessKey IP's AccessKey(TM) products, powered by the Company's patented technology, provide complete access to the coveted "Triple Play" Set Top Box (voice, video and data) and "Quadruple Play" Set Top Box (voice, video, data and wireless) offerings of cable, telecom, satellite and broadband service providers. The Company's AccessKey Home(TM) and portable flash drive-sized AccessKey PC(TM) allow subscribers to "channel surf" streaming "HD Quality" television content (IPtv), navigate the internet, watch Video on Demand (VOD) offerings, play video or internet-based games, listen to music, make phone calls (VoIP), video conference, run a full array of computing applications, securely store data and more, all from a single device and service provider network. Its wholly owned subsidiary TeknoCreations was founded to participate in the explosive growth of Consumer Electronics and Business security needs. TeknoCreations designs high quality products with attractive pricing to enhance the consumer's favorite electronics products and the expanding security needs of corporate America.
The AccessKey IP logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4945
Forward-Looking Statements
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 of 1995. Those statements include statements regarding the intent, belief or current expectations of AccessKey IP, 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.
Please visit the Company's websites www.accesskeyip.com, www.teknocreations.com