SEATTLE--(BUSINESS WIRE)--Techalt, Inc. (Pink Sheets:TCLT) ("Techalt" or the "Company") announced today that its subsidiary, EV Parts, Inc. ("EV Parts") will soon be offering franchise sales of its dealerships throughout the United States. This decision comes in response to the overwhelming domestic and international inquires EV Parts has received regarding franchise opportunities. Techalt Inc. believes the franchising concept will allow it to offer products in local communities and bring brand recognition at a national level. It is expected that franchise dealerships will be available to qualified franchisees by September of this year.
It is contemplated that under the dealership agreements, EV Parts will receive revenues from franchise fees, inventory sales and a percentage of gross sales from each franchise.
Techalt's President, Dave Moore, commented, "The Company is very excited about EV Parts' franchising concept, which is expected to boost sales of EV Parts' products throughout the United States and allow EV Parts to better serve its customers in their local communities."
Techalt Inc. business model for EV Parts, Inc. is to incubate the subsidiary until it reaches over $10 million in sales and ebitda in excess of 1.5 million dollars. It is then our intention to spin EV Parts, Inc. off as its own separate public company to be benefit of the current Techalt shareholders through a stock dividend in the new public company.
Techalt's business model as a public holding company is to continue its pursuit for quality opportunities in developing early to mid-stage alternative technology, communications, environmental and health and wellness companies. Techalt expects its to update its corporate structure and website shortly.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("the Exchange Act"), as such, may involve risks and uncertainties. Forward-looking statements are based upon certain assumptions and describe future plans, strategies and expectations, are generally identifiable by the use of words as "believe," "expect," "intend," "anticipate," "project," or other similar expressions. Forward-looking statements relate to, among other things, future performance, and perceived opportunities in the market and statements regarding the Company's mission and vision. The Company's actual results, performance and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. Additional factors could materially affect these forward-looking statements and/or predictions include, among other things: (1) managing acquisitions and expansion of operations; (2) obtaining necessary financing and managing existing debt; (3) completing the investigation, acquisition and integration of new business opportunities; (4) complying with federal, state and local government and international regulations; and (5) other factors over which we have little or no control.