Ultimate Security Systems Corporation and ImmunoTechnology Corp. Announce Extension of Deadline to Merge
IRVINE, Calif., March 31 -- Ultimate Security Systems Corporation (USSC) of Irvine, Calif., manufacturer of the Power Lock(TM) auto security system, and ImmunoTechnology (BULLETIN BOARD: IMNT) have announced that both parties have agreed to extend the original March 31, 2003 deadline to merge until April 16, 2003.
Under the terms of the Letter of Intent, IMNT will acquire 100% of the outstanding shares of common stock of Ultimate Security Systems Corporation in exchange for the issuance of shares of IMNT's common stock. "I'm optimistic about the completion of this merger," said James Cooper, CEO of Ultimate Security Systems Corporation. "Having some extra time is giving us an opportunity to gear up for the expansion and growth we anticipate as a result of the agreement."
Ultimate Security Systems Corporation developed and patented Power Lock(TM), the only solid-state auto security system that is guaranteed to prevent any vehicle from being hot-wired and driven away. The product attaches permanently to a vehicle's starter motor and cannot be circumvented by cutting and jumping ignition wires, the "hot-wiring" technique used by professional car thieves in the vast majority of stolen vehicle cases nationwide.
For additional information about Power Lock(TM), contact the corporate headquarters: Ultimate Security Systems Corporation, 18271 West McDurmott, Suite F Irvine, CA 92614 (800) 689-8004 or visit www.Powerlock.com
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be forward-looking statements. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. In particular, information in this release relates to the terms a letter of intent to engage in a merger transaction and is subject to the completion and execution of a definitive merger agreement.