Company Website.... orbit-technologies.com
Wednesday March 3, 8:57 am Eastern Time
Company Press Release
Orbit Technologies Launches Investor Website to Address Growing Inquiries Resulting From Analyst and Media Coverage
CARLSBAD, Calif.--(BUSINESS WIRE)--March 3, 1999--Orbit Technologies, Inc. (OTC BB:OBTY - news) announced today that it recently launched a comprehensive website, located at www.orbit-technologies.com, which is designed to provide corporate and financial information to the investment community.
The Company noted that it launched the website to address increased investor inquiries resulting from recent exposure in industry-related journals as well as its selection as one of the 1999 top stock picks by the Dick Davis Digest investment report. Orbit said the new site was created to facilitate investors' efforts to research and track corporate fundamentals and developments.
These articles cover Orbit's patent pending polymer encapsulation product as well as the Company's contract to evaluate use of the proprietary compound to treat low-level calcine waste surrogate material for Lockheed Martin Idaho Technologies Co., a division of Lockheed Martin Corp. (NYSE:LMT - news).
In a final report submitted earlier this year to Lockheed Martin, Orbit reported that testing and analysis determined the Company's product produces a cohesive waste material suitable for long-term disposal. Preliminary cost estimates indicate significant cost savings of greater than 50% over current technologies for the treatment and long-term storage of the waste.
An Orbit spokesperson also noted that the Company is continuing previously announced discussions with Lockheed Martin regarding a statement of work that has the potential of leading to a more extensive and in-depth evaluation for the calcine waste stream.
Orbit Technologies, Inc. is an intellectual property holding company whose mission is to identify, develop, and acquire new and innovative technologies and devise commercial applications to be taken to market through licensing or joint venture partners.
Forward-looking statements in this release are made pursuant to the ''safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including, without limitation, increased levels of competition for the Company, new products and technological changes, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. The application of new and revolutionary technologies is frequently subject to industrial acceptance and governmental regulations, and therefore there is no guarantee products will attain market recognition.
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Contact:
Orbit Technologies, Inc.
James B. Lahey
(760) 918-9168
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