Nationwide Safe*T*Propane, Inc. Prepares to Enter Michigan Market Area
GERMANTOWN, Ohio, Jan. 6, 2004 -- Jay Kothari, a consultant that works for Nationwide Safe*T*Propane, Inc. (NSFE on the Pink Sheets) in marketing has negotiated an agreement with a non related third party for the rights to operate in the State of Michigan using the patented products and proprietary software systems developed by NSFE for it's core business of supplying propane and technologies to the industrial lift truck industry.
The terms of the proposed agreement requires the operator to make an earnest money deposit in the amount of $25,000.00 which has been received by NSFE with the balance of the significant purchase price to be received within 90 days. Upon completion and signing of the contract between the parties, NSFE will receive an ongoing lease payment for Safe*T*Cylinders(R) and will provide CGX-4(R) and propane to the Michigan operation. NSFE will manage all areas of the operation and provide micro management, ongoing consulting services and software services to the operator for a percentage of sales.
Although it is hard to know the exact amount of the revenue streams that may be generated in this new market area, the company expects first year earnings from this contract to reach well over $600,000.00 US.
NSFE is very pleased with the agreement and the quality of work performed by Mr. Kothari, and will keep investors informed as to further developments in relation to this and other contracts as they progress.
Investors should be aware that the company remains focused on it's core business model which is developing a market for it's patented CGX-4(R) and Safe*T*Cylinders(R) for propane delivery in the industrial lift truck markets. The company has developed a very user friendly system for delivery and maintenance of propane services used by the industrial lift truck market.
Certain statements in this news release may contain forward looking statements and or information within the meaning of rule 17B under the securities act of 1933 and rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include among other things, product price volatility, product demand, market competition and risks inherent in the operation of the company. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipates in such statements.