ORLANDO, Fla., Feb. 8 /PRNewswire-FirstCall/ -- GMC Holding Corp.
(OTC Pink Sheets: GMCC) announced today the opening of negotiations with
multiple corporate entities who wish to acquire the exclusive rights of its
REMAT(TM) "cold motor" technology. "Cold motor" is defined as motors that run
at 140 degrees Fahrenheit or less at full load.
Because of the sensitive nature of the technology, negotiations and
participants, GMCC is not at liberty to provide details at this time. GMCC can
confirm the entities include S&P 500 corporations. Preliminary negotiations
indicate a transaction in the $350-$500 million range. GMCC intends to
allocate 96% of the revenue realized from the sale of the
REMAT(TM) asset as income directly to its shareholders. The remaining income
will be maintained in GMCC for ongoing acquisition and capitalization of new
technologies, which are complimentary to the REMAT(TM) line.
Until the close of negotiations, GMCC will aggressively pursue the
development of its REMAT product expanding its diversity in the energy arena
including the production of the highest efficiency generator known today. As
of January 31, 2006, the company's share structure is as follows:
Authorized Shares = 100,000,000
Outstanding Shares = 60,000,000
Restricted Shares = 50,000,000 (Approx.)
Public Float = 10,000,000 (Approx.)
Safe Harbor
Statements contained in this release that are not strictly historical are
"forward-looking" statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended. The forward-looking statements are made based on
information available as of the date hereof, and the company assumes no
obligation to update such forward-looking statements. Editors and investors
are cautioned that such forward-looking statements invoke risk and
uncertainties, and the company's actual results may differ from these forward-
looking statements. Such risks and uncertainties include but are not limited
to demand for the company's products and services, our ability to continue to
develop markets, general economic conditions, our ability to secure additional
financing for the company and other factors that may be more fully described
in reports to shareholders and periodic filings with the Securities and
Exchange Commission.
SOURCE GMC Holding Corp.
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Related links:
http://gmcholdings.com
CONTACT:
Dan York, IR, GMC Holding Corp.,
+1-214-675-2531
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