Solomon Announces Engagement of Design Continuum
TARPON SPRINGS, Fla.--March 29, 2005--Solomon Technologies, Inc. (OTCBB:SOLM), announced today that it has engaged Design Continuum Inc. to assist the Company in rapidly leveraging its technology into complimentary markets.Design Continuum, based in Boston and operating internationally through offices in Seoul, South Korea and Milan, Italy, provides a broad spectrum of technology and strategy development capabilities and implementation planning services to its clients. Design Continuum will work with Solomon's team to leverage Solomon's patented and proprietary electric propulsion technology and to accelerate growth and market penetration in new and existing markets.
Peter W. DeVecchis, Jr., the President of Solomon said, "As we continue the process of expanding Solomon's reach, exploiting our unique technology is crucial for our shareholders. Our team looks forward to working with Design Continuum in undertaking that task over the next few months."
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc. has been successfully installing and supporting marine installations of its patented and proprietary electric motor drive systems around the world. Solomon currently provides propulsion systems for new and retrofit marine applications as well as motors for high growth, high volume land based vehicle and machinery applications. Solomon, through its proprietary propulsion systems and patented Electric Wheel(R) technology, offers a unique electric motor design with an ability to efficiently regenerate electricity and leads the way in the recreational boating industry's adoption of the fundamental new technology.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding Solomon Technologies, Inc. in this release that are not historical in nature, particularly those that utilize the terminology such as "may," "will," "should," "likely," "expects," "anticipates," "estimates," "believes," or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which management has derived from the information currently available to it. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Important factors known to management that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in the company's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and the company undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.