PSP World

AccessKey IP, Announces Plans to Spin-Off Retail Sales Subsidiary TeknoCreations

AccessKey IP, Inc. has announced that its Board of Directors has unanimously agreed to spin-off its wholly owned subsidiary TeknoCreations into an independent publicly traded company. It is expected that this new entity will be trading sometime in early 2008. TeknoCreations designs high-quality products with attractive pricing to enhance the consumer's favorite electronics products. They have developed a wireless remote control for iPods as well as inductive charging units for both Nintendo's Wii and Microsoft's Xbox 360. Their retail sales staff is in place to participate in the explosive growth of consumer electronics and the expanding security needs of corporate America. The focus of the company will be wholesale sales through Distributors and direct to Retailers, Etailers and DMRs (Direct Market Retailers).

According to George Stevens, CEO of AccessKey IP, "The independence of TeknoCreations will achieve three main objectives: 1) a greater focus of existing resources within AccessKey IP to design and develop products, 2) a dedicated organization promoting sales in the retail market -- while at the same time purchasing both finished product and technologies from AccessKey IP, and 3) the ability to raise capital in the investment community for both companies. In order to ensure that AccessKey IP shareholders receive appropriate value in TeknoCreations, we expect to achieve equity by granting existing AccessKey IP shareholders a stock dividend of TeknoCreations shares. We are excited about this opportunity and we will provide more information as this transaction progresses."