CORAL SPRINGS, Fla., July 31, 2012 (GLOBE NEWSWIRE) -- Union Dental Holdings, Inc. (Pink Sheets:UDHI) www.uniondental.com/ir -- a provider of multi-state dental services for union members, announced today it was informed by Energy Edge Technologies Corporation (OTC:EEDG) they had entered into a definitive agreement with Dutchess Private Equities Fund, LTD to purchase all of the Dutchess shares of equity, including all warrants in UDHI.
In 2005 UDHI completed and filed a registration statement with the Securities & Exchange Commission for a convertible Debenture and a Senior Note which was all converted into equity via shares of stock and a warrant at a later date. This initial financing was considered by many in the financial industry as "toxic financing" or "Death Spiral Financing" for micro cap stock companies who were trying to build their business models but could not obtain financing in any other manner for their company to go forward other than through the P.I.P.E. (Private Investment in Public Entity) type of financing.
Dr. George Green, CEO of UDHI stated: "We are extremely pleased at the completion of this agreement to have Energy Edge as a shareholder in our company as their business relationship being a distributor of the Drinkable-Air Atmospheric Water Generators (including their African initiative and Haiti distribution) coincides with our business model and our exclusive distribution rights for the dental markets to the Drinkable-Air line of products in the USA for the AWG machines. The combination of interlocking our USA agreement along with EEDG's marketing in foreign countries could compliment marketing plans and create additional revenues for both companies. We look forward to a long standing business relationship with EEDG who have indicated their interest is to hold this equity position for a long term basis as opposed to a strictly financial relationship we have had to encounter with Dutchess in the past. The Dutchess financial relationship has kept our stock undervalued and the equity position they held has been an overhang on the market preventing our shares seeking their true value for all of our loyal shareholders."
About Union Dental Holdings, Inc., Direct Dental Services, Inc. and Union Dental Corp.
Direct Dental Services and Union Dental Corp. are wholly owned subsidiaries. Direct Dental Services provides dentists with "areas of exclusivity" to participate with various unions including the Communications Workers of America (CWA) and the International Brotherhood of Electrical Workers (IBEW), United Association of Plumbers and Pipe Fitters (UA) and The Association of Flight Attendants - Communications Workers of America (AFA-CWA). Direct Dental Services receives annual management fees from the dentists in exchange for practicing in these "areas of exclusivity" where CWA and IBEW members use the dentists' services. Union Dental manages a dental practice in Coral Springs, Florida.
The Union Dental Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8310
WEBSITE: www.uniondentalcorp.com/ir
About Energy Edge Technologies Corporation
Energy Edge Technologies Corporation is the solution for any business in need of a no-hassle, full-service approach to slashing energy costs and minimizing environmental impact. The Company's PhD's, licensed engineers, contractors and energy consultants are dedicated exclusively to energy cost reduction and are here to give the consumer a real edge. The whole-facility energy projects will give the customer an advantage over rising energy costs and competition. The approaches and technologies used will cost effectively reduce utility spending and greenhouse gas emissions while improving profit margins. EEDG are experts at getting every single rebate possible, subsidy and tax break available and will show the customer how to streamline their energy efficiencies. And, most importantly, the team of energy professionals will work to ensure the highest savings and strongest ROI possible as we continue to measure results for 20 years or more, depending on the life of every specific project.
Unlike many companies that provide just one or two energy-reducing techniques, our energy consultants combine a variety of proven strategies to make the largest possible impact on your monthly utility bills and carbon footprint without changing any operation or processes. Headquartered in New Jersey, Energy Edge Technologies Corporation offers turnkey services anywhere in the world.
About Drinkable-Air, Inc.
Drinkable Air, Inc. (a Florida corporation) ("DA" or "The Company") offers to the U.S. and international markets Atmospheric Water Generators ("AWG") which will enable people to enjoy pure, 99.9% clean water. The water supply is obtained from the humidity in the air and condensed, processed and purified through a patented process. Drinkable Air's Chameleon line of AWG's is a cost-effective and environmentally friendly solution to the world's ever-growing need for pure, clean drinking water. The Chameleon line consists of twelve models which are described in detail in the business plan. For the first 3 years, the Company will focus on selling six models, i.e. Chameleon 8, 60, AC-60, 600, AC-600 and 1200. The Company's new home/office model is revolutionary in design and unlike other machines currently in the market. Superior air flow design combined with a larger surface area at the evaporator coil; produce more water than any other AWG of comparable size. The Company's proprietary EnviroGuard™ System eliminates bacteria and purifies the water with an ozone process which oxygenates the water. This process keeps the water pure, fresh and great tasting at all times.
The market opportunity is vast and includes utilization in: Residential, Businesses, Commercial, Marina's, Municipalities, Industrial, Government, Humanitarian Relief and Developing Countries.
The reason for this expansive market opportunity is based on the fact that only 1% of all the water in the world is drinkable. As the world population increases dramatically along with the need for water consumption this technology will be pulled into all these markets to satisfy this demand. All traditional sources of obtaining clean fresh drinking water will be exhausted and AWG's in general will realize a substantial increase in utilization and popularity. The capacity of this technology to generate drinking water from air will create a point of differentiation that will serve all the indicated markets above.
WEBSITE: www.drinkable-air.com
"Safe-Harbor" Statement: Under the Private Securities Litigation Reform Act of 1995. This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.