MIAMI, Oct. 3, 2012
/PRNewswire/ -- Hi Score Corporation (PINKSHEETS: HSCO) announced
today that its subsidiary Green LED Technology is continuing to
receive sales orders for Energy Saving Lighting as a result of its
wholesale agreement with DMD Lighting. DMD was sold off by Hi Score
earlier this year in a transaction that resulted in Hi Score
receiving 20% of DMD's net profits. Another result of the deal is
that DMD will purchase LED Lighting from Hi Score subsidiary Green
LED Technology. DMD reports that it has continued to write sales
orders from its existing customer base and is developing
relationships with new customers as well. All of this means that
Green LED Tech has been receiving and should continue to receive
lighting orders from DMD.
"The divestiture of DMD appears to be continuing to work out
well for Hi Score," said Hi Score CEO Michael Zoyes. "The deal leaves us with a steady
income from DMD as well as an annual profit check and it has freed
us from a tremendous amount of debt. More importantly it frees us
up to explore acquisitions of profitable private companies that can
benefit from becoming part of a publicly traded company."
The company announced earlier this year that the Board of
Directors had approved a plan to engage in acquisition talks with
private companies in the Energy Saving Lighting, Medical Solutions
and Energy Drinks industries. Since that announcement the company
has been receiving phone calls from companies in various
industries. "Each of the calls is unique," said Mr. Zoyes. "A few
of them sound promising… I have been discussing with the Board…the
idea to open up our acquisition plans to include considering
private companies from other spaces as well as the ones we
originally agreed upon. There appears to be a lot of
opportunities…just last week I had a long telephone call with an
internet gaming company that is predicting a mega future. They
would like to position themselves as part of a public company so as
to be prepared for its growth. Now, we have not done a lick of due
diligence yet but on its face the deal looks like it could have a
huge potential. I am saying huge with a B. It is a very exciting
time here at Hi Score." The company continues to be very
optimistic about the future.
About Hi Score
Hi Score Corporation is a supplier of eco-friendly lighting
products in the Western Hemisphere. It offers its customers the
fiscal and ecological practicality of utilizing safe, efficient,
solid state green lighting rather than conventional fluorescent and
incandescent bulbs. The Company offers the widest selection of high
quality, long lasting LED lighting products that that can replace
existing incandescent, fluorescent and halogen bulbs as well as
compact fluorescent lights. Additionally the Company offers Compact
Fluorescent and Halogen Lighting under its EcoGreenBulb and REPCO
Labels, respectively. The Company sells its products directly to
distributors, consumers, businesses as well as to municipalities.
In August of 2012 the Company resolved to explore acquisition of
other profitable private companies in the Energy Saving Lighting as
well as in the Medical Solutions and Energy Drinks Industries.
Safe Harbor Statement: This release includes "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 that are based upon assumptions that in the future may
prove not to have been accurate and are subject to significant
risks and uncertainties, including statements as to the future
performance of the company and the risks and uncertainties detailed
from time to time in reports filed by the company with the
Securities and Exchange Commission. Although the company believes
that the expectations reflected in its forward-looking statements
are reasonable, it can give no assurance that such expectations or
any of its forward-looking statements will prove to be correct.
Factors that could cause results to differ include, but are not
limited to, the company's ability to raise necessary financing,
retention of key personnel, timely delivery of inventory from the
company's contract manufacturers, timely product development,
product acceptance, and the impact of competitive services and
products, in addition to general economic risks and
uncertainties.
CONTACT:
Hi Score Corporation
Michael Zoyes
President
(954) 990-6827
www.hiscorecorporation.com
SOURCE Hi Score Corporation