LAS VEGAS, Sept. 21, 2011 /PRNewswire/ -- George Roth, President of Smokefree Innotec,
Inc. (OTC Pink: SFIO) announced today that the Complaint filed by
the Securities and Exchange Commission against the Company in the
matter of the involvement of its former CEO, Thomas Schroepfer in fraudulent securities
transactions in July 2009, has been
settled today with the entry of a Judgment Of Permanent
Injunction And Other Relief As To Defendant Smokefree Innotec,
Inc., consented to by Smokefree without admitting or denying the
allegations of the Complaint. (Case 0:11-cv-61454-CMA Document 16
Entered on FLSD Docket 09/20/2011). Further information will be
posted on the Smokefree's website in the near future regarding
management's actions with respect to this matter. The filing of
this Judgment allows the corporation to finalize and proceed with
certainty its long awaited disclosure filings with the Pink Sheets
and the DTC for the benefit of its shareholders, who have been
severely hampered in capitalizing on the value of their holdings in
the market since the initial publication of the Complaints on
June 30, 2011 and the reactions of
the DTC in stabilizing the market activity in the Company's
stock.
About Smokefree Innotec, Inc.
Smokefree Innotec, Inc. (OTC Pink: SFIO),
www.smokefree-innotec.com, is in the business of designing,
developing, manufacturing and marketing hi-tech, nicotine and
non-nicotine cigarette-like delivery devices which are completely
smoke and vapor-free and tobacco-free. SFIO's products are designed
to protect the non-smoker from second hand smoke and all its
effects while providing the smoker a way to enjoy a smoke-free
cigarette anywhere, including places where vapor emissions are
offensive or smoking tobacco or similar substances is prohibited.
Further, our products will allow the smoker to enjoy smoking either
nicotine or flavored non-nicotine cigarettes while not having to
worry about the offensive dangers and ill effects of regular
cigarette smoking. However SFIO's products are not intended for any
prevention or therapeutic treatment of any disease.
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Contact:
Smokefree Innotec, Inc.
George Roth - CEO
info@smokefree-innotec.com | www.smokefree-innotec.com
A number of statements referenced in this Press Release are
forward-looking statements, which are made pursuant to the Safe
Harbor Provisions of the Private Securities Litigation Reform Act
of 1995, and within the meaning of Section 27A of the Securities
Act of 1933 and Section 21B of the Exchange Act of 1934. Any
statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
and goals, assumption of future events or performance are not
statements of historical fact and may be "forward-looking
statements." Forward-looking statements are based on expectations,
estimates and projections at the time the statements are made that
involve a number of risks and uncertainties which could cause
actual results or events to differ materially from those presently
anticipated. Forward-looking statements in this Release may be
identified through the use of words such as "expects," "will,"
"anticipates," "estimates," "believes," or statements indicating
certain actions "may", "could," or "might" occur. Such statements
reflect the current views of Smokefree Innotec, Inc. with respect
to future events and are subject to certain assumptions, including
those described in this release. These forward-looking statements
involve a number of risks and uncertainties, including the timely
development and market acceptance of products, services, and
technologies, competitive market conditions, successful integration
of acquisitions, the ability to secure additional sources of
financing, the ability to reduce operating expenses, and other
factors. The actual results that the Company achieves may differ
materially from any forward-looking statements due to such risks
and uncertainties. Smokefree Innotec, Inc. does not undertake any
responsibility to update the "forward-looking "statements contained
in this news release. Disclosures made in this Press Release are
limited by good business practice and to that permitted to the
public by applicable securities regulations, both Federal and
State, including rights granted to shareholders under the Nevada
Revised Statutes NRS 78.257 regarding limitations of preferential
and selective disclosure of confidential Company
information.
SOURCE Smokefree Innotec, Inc.