TOKYO, JAPAN / ACCESSWIRE / August 27, 2015 / Aqua Power Systems Inc. (OTCQB: APSI) (the “Aqua Power” or “Company”) announced today that on July 13, 2015, the Company released its annual operating results for the year ended March 31, 2015. A summary of the results of operations for the Company includes:

– Net loss of $103,859 for the year ended March 31, 2015, compared to a net loss of $99,839 for the eleven months ended March 31, 2014, an increase in net loss of $4,020.
– Net loss from operations of $122,944 for the year ended March 31, 2015, compared to a net loss from operations of $124,576 for the eleven months ended March 31, 2014, a decrease in net loss from operations of $1,632.
– Working capital deficit of $95,367 at March 31, 2015, compared to a working capital deficit of $106,644 at March 31, 2014, an increase in working capital of $11,277.
– Net cash used from operations of $155,304 for the year ended March 31, 2015, compared to net cash used from operations of $11,112 for the year ended March 31, 2014.

Fiscal 2016 Outlook

The Company and its management team continue to move forward with an aggressive business development strategy, despite the difficult economic environment, focusing on asset and cash management while developing our objectives in order to build sustainable growth within the Company and value for its stakeholders.

During fiscal 2015, management was able to decrease overall general and administrative expenses by over 45% and will continue to closely monitor day-to-day operating costs to focus more cash and assets to our long-term business objectives. Management will continue to monitor and manage the Company’s cash needs to minimize the operating cost of debt financing.

Tadashi Ishikawa, President of Aqua Power Systems Inc., commented, “We have been very successful at managing and cutting costs during the last year. Now that we have completed the acquisition of Aqua Power System Japan Kabushiki Kaisha (“Aqua Power Japan”) our corporate growth and expansion strategy can be moved forward. The acquisition enables Aqua Power Systems to accelerate growth, raise additional working capital, launch new exciting products, increase production capacity and build a dynamic distribution network.”

With the acquisition completed, the Company has complete control and ownership of all of the Realistic Magnesium Air Fuel System (“RMAF”) products, patents and other intellectual property. The RMAF technology has significant benefits over traditional fuel cells and batteries, including:

– Indefinite shelf life – ideal for long-term storage for emergency use;
– Extremely lightweight and easily transported;
– Totally green – recyclable, no toxic emissions;
– Low cost – much lower cost than hydrogen and zinc-air fuel cells;
– Safe – no risk of overheating or exploding, as shown in Li-ion fuel cells;
– Indefinitely refuelable; and
– Easily expandable for greater power generation.

ABOUT AQUA POWER SYSTEMS, INC.

Aqua Power Systems, Inc. (APSI), through its wholly-owned subsidiary Aqua Power System Japan Kabushiki Kaisha (Aqua Power Japan), is a developer, distributor, and marketer of magnesium air fuel cell products. Founded in 2004 by Tadashi Ishikawa, President of APSI, Aqua Power Japan has successfully commercialized magnesium air fuel cells for generating safe, green, reliable and inexpensive off-grid electricity.

Aqua Power Japan’s patented (and patent-pending) Realistic Magnesium Air Fuel System (“RMAF”) technology causes electricity to be generated from the chemical reaction of the combination of magnesium, oxygen (air), and a saltwater electrolyte. RMAF powered applications can be refueled using its proprietary lightweight magnesium rods, which fuel the chemical reaction. RMAF fuel cells have a long shelf, are lightweight, transportable, environmentally friendly, safe and scalable for greater power generation. Aqua Power Japan has aggressively patented (16 patents and patents-pending to date) and protects its intellectual property in Japan and internationally.

Aqua Power Japan’s fuel cell technology can be applied to many applications requiring remote power, including emergency preparedness and disaster relief, outdoor recreation, industry (mining, oil and gas, forestry), military, marine (saltwater environments), and automotive opportunities (main drive, electrical subsystems, and backup systems).

Aqua Power Japan has been generating revenue since its initial products were launched in 2009 in Japan. These products included a water-activated AA battery (more than 8 million sold to date), mini-LED flashlights, and portable radios. Aqua Power Japan products gained national attention in Japan following the earthquake and tsunami that devastated many parts of the country in 2011.

For additional information regarding Aqua Power, please visit www.aquapowersystems.com.

On behalf of the Board Tadashi Ishikawa, President

For further information please contact: info@aquapowersystems.com.

Notice Regarding Forward-Looking Statements

This press release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with intellectual property protection, marketing and sale, manufacturing and distribution and difficulties associated with obtaining financing on acceptable terms. We are not in control of energy trends and prices and these could vary to make our business development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the riskfactors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

SOURCE: Aqua Power Systems, Inc.

ReleaseID: 431574

CALGARY, ALBERTA, / ACCESSWIRE / August 27, 2015 / NovaTeqni Corporation (TSXV: NTQ) (“NovaTeqni or the “Corporation“) announces that it has completed the second tranche of a non-brokered private placement of units (each, a “Unit“). NovaTeqni issued an aggregate of 117,000 Units at a price of $0.60 per Unit for gross proceeds of $70,200.00. Each Unit consists of one common share in the capital of NovaTeqni (a “Common Share“) and one-half of one common share purchase warrant (a “Warrant“). Each whole Warrant may be exercised to acquire one Common Share at a price of $1.00 per share for a period of 12 months from the date of issuance of the Warrant provided, however, if the volume weighted average closing price of the Common Shares exceeds $1.25 per share for more than 10 consecutive trading days, NovaTeqni may accelerate the Warrant exercise period to a date which is 30 calendar days following the date a press release is issued by NovaTeqni announcing the reduced Warrant exercise period. All of the securities issued under the private placement are subject to a four month hold period.

In connection with the completion of the second tranche of the private placement, NovaTeqni paid $4,200.00 in finder’s fees to eligible persons. NovaTeqni intends to use the aggregate net proceeds of the private placement for the development of new products and for general working capital purposes.

About Novateqni

NovTeqni is a technology based company that is focusing on biometrics and secure payment technologies. Using its management experience and developed intellectual property, NovaTeqni provides solutions and products for voter validation, voter registration, financial transactions and biometric solutions. Using the its platform of products, NovaTeqni can provide clients with custom solutions for their particular industry. NovaTeqni has corporate offices in Calgary, Alberta, sales offices in Norfolk, Virginia, development in Johannesburg, South Africa and manufacturing in Hong Kong.

For further information, please contact Gerhard Mynhardt, Chief Executive Officer of the Corporation, by email at info@novateqni.com.

Reader Advisory

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the proposed use of proceeds. The forward-looking statements and information are based on certain key expectations and assumptions made by the Corporation. Although the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Corporation can give no assurance that they will prove to be correct.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.

Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Corporation undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: NovTeqni Corporation

ReleaseID: 431572