QBIT Receives 1st Installment From Remington Ventures
Last Update: 10:03 AM ET Nov 1, 2006
HOUSTON, TX, Nov 01, 2006 (MARKET WIRE via COMTEX) -- Quantum Bit Induction Technology Inc. (PINKSHEETS: QBIT) has received the 1st contract payment from Remington Ventures, Inc. This payment is part of an agreement finalized in September between the two Corporations.
Remington purchased certain rights to a QBIT project in the spring of 2005.
"Remington has been very helpful with the financial support needed to develop specific elements of the Programmed Trading Project," explained QBIT President Mike Skillern. "We are pushing the technological envelope in several directions at once on this project. Knowing that Remington's support is there has given us the luxury of utilizing far more direct approaches."
For more information on QBIT and its projects visit our website at www.quantumbit.com.
QBIT is a technology developer that builds theoretically sensible ideas into technological realities. We work in the project areas of Power, Propulsion, Quantum Control, and Biology. Our primary interest is our Shareholders; we strive to generate value, benefits and loyalty to them. Please take the time to learn how and why, visit www.quantumbit.com and ask questions.
QBIT, in all cases, maintains project rights for its shareholders, information concerning those rights is available on the QBIT website or by contacting QBIT directly.
All Shareholders are encouraged to join the QBIT Shareholder Group on Yahoo by visiting www.quantumbit.com/html/shareholdergroup.html
The statements in this press release are not forward looking. Anyone considering QBIT common share ownership should first understand the company.
Contact: Peter McCain 713-784-7132 |
