Scottsdale, Arizona ,
September 27, 2016 (Newswire.com) –
Saxon Capital Group, Inc. (SCGX-pk) announced the signing of a letter of intent to acquire 100% of the outstanding shares of GTEK Industries, Inc., Scottsdale, Arizona. Closing of the acquisition will occur upon completion of the definitive contract which is expected to occur within the next five to ten days.
GTEK Industries is a technology company developing products to mitigate the potential devastating damage as the result of an Electromagnetic Pulse (EMP), which can be generated by either a solar event or a foreign or domestic enemy. The Wall Street Journal, USA today, Forbes, Time, US news and World Report, and other major news outlets, have reported on the EMP threat, and the possibility of an attack shutting down the entire electrical grid and destroying electronic infrastructure.
The Heritage Foundation describes an EMP as a high-intensity burst of electromagnetic energy caused by the rapid acceleration of charged particles. An EMP attack has the potential to decimate domestic and international electrical and technological infrastructure, effectively sending the U.S. back to the 19th Century. As society grows more reliant on electronic devices, so does its vulnerability to an EMP attack.
GTEK Industries is dedicated to addressing the growing threat of EMP – both by an enemy or solar flare.
GTEK Industries may be the only company that is dedicated solely to addressing the growing threat of EMP – both by an enemy or solar flare – by providing proven, patent pending technology and products aimed at protecting the U.S and foreign governments and their citizens. GTEK specializes in keeping critical infrastructure operational when all forms of energy are lost due to natural or man-made threats, and backup systems are rendered useless. GTEK’s founders are highly experienced with EMP hardening, and the management team has previously worked with major defense contractors, U.S. and foreign governments and our intelligence community.
GTEK Founder, Dr. Lorin Frantzve, has over 25 years of business and technical experience in the fields of telecommunications and software development, cyber systems and aerospace engineering.
GTEK’s Co-founder, Larry Gunta, has over 40 years of business and technical experience in the fields of mechanical design, electrical power generation, micro grid integration, advanced control systems and specialized computer, Cyber and Supervisory Control and Data Acquisition Systems (SCADA).
Various statements in this release, including those that express a belief, expectation or intention, may be considered “forward-looking statements” that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects or transactions. Forward-looking statements may also include projections and estimates concerning our future operating results and financial condition. When we use the words “will,” “believe,” “intend,” “expect,” “may,” “should,” “anticipate,” “could,” “estimate,” “plan,” “predict,” “project,” or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this press release speak only as of the date of this press release; we disclaim any obligation to update these statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control.
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Source: GTEK Industries