PALM SPRINGS, CA – April 8, 2014 -- Attune RTD (OTCQB: AURT), a premier provider of Smart Energy Management Products and innovator of the patented BrioWave Smart Energy Management Technology executes a Letter of Intent, (the "LOI") to Change Control of certain officers by and between Beacon Global Partners, LLC (BGP) a Wyoming Limited Liability Company and the Company to acquire Majority voting Control of Attune RTD. The "LOI" is precedent to a formal Change of Control Agreement, which is expected to be finalized within 15 days of the date of filing of the Company's Annual 2013 Form 10-K report to the SEC, on or about April 15, 2014. After the "closing" of the transaction contemplated by the "LOI", BGP will hold 51% of the voting securities of our Company and is expected to close on or before the first quarter of 2015. As of the date hereof, BGP holds 0% of the voting securities of our Company.
Our current C.E.O., Shawn Davis, and our C.F.O., Thomas Bianco have agreed to resign effective on the date of filing of the Company's Annual 2013 Form 10-K report to the SEC, on or about April 15, 2014. Both Davis and Bianco have each agreed to continue to serve as consultants on an as-needed basis to the Company and to provide such duties and responsibilities as requested by BGP in writing. Both Davis and Bianco will continue to serve as Directors on our Board of Directors. There are no disagreements between us and Mr. Davis or Mr. Bianco. No replacement for Mr. Bianco's former position has been named at this time.
Mr. Davis stated, "I conceived BrioWave technology with my father and he has left an indelible mark on the technology, so it has a very special and personal meaning to me. I further advanced it with Tom and both of us are incredibly passionate about BrioWave technology and will do all that we are capable of to advance the Company to the next level for our friends and shareholders who along with us share in a vision of success. It's both my passion and Mr. Bianco's passion and desire to do everything we can to help facilitate an easy transition for Mr. Miller and Mr. Starr, which we are in the process of doing right now. I am confident in our technology and in the new leadership and direction of Mr. Miller and Mr. Starr. Tom and I have worked incredibly hard, though challenged, our technology has been in the field working across three states operating without failure to simplify people's lives and save them money. Throughout our tenure we have had many successes such as earning a pilot with a major utility vendor, implementing hardware and software watchdogs on the device, earning CSA certification, and other numerous improvements and enhancements to improve its functionality. We are confident that these gentlemen have the ability and network of contacts to raise sufficient capital to take Attune RTD to the next stage."
Effective on the date of filing of the Company's Annual 2013 Form 10-K report to the SEC, on or about April 15, 2014, Mr. Kenneth Miller will be our Chief Executive Officer and a Director on our Board of Directors. Effective as of the filing of the Company's Annual 2013 Form 10-K report to the SEC, on or about April 15, 2014, Mr. Sam Starr will be our Chief Operating Officer and a Director on our Board of Directors. Our Board of Directors will now consist of Davis, Bianco, Miller, and Starr.
Pursuant to the terms and conditions of the "LOI", BGP will provide Attune with ongoing capital financing on a monthly basis until closing.
Mr. Miller states, "We have seen the results and cost savings provided to consumers and are committed to bringing this product to market, especially to Southeast Asia, who is in dire need of energy management solutions, and is at the center of changes in the international reordering of energy supply and demand patterns. Sam brings to the table decades of seasoned marketing experience that I am certain will benefit the Company on the sales side of the equation. Finally, shortly after the filing of the Company's Form 10-K, I plan on addressing the shareholders and sharing my long and short term views going forward. Just know that I am incredibly excited and charged with energy to lead Attune RTD with my partner Sam Starr along with Mr. Davis and Mr. Bianco. More to come soon!"
About Attune RTD
Attune RTD is a premier provider of Smart Energy Management Products. Attune's first to market product, The BrioWave 175p, has the ability to control large electrical loads, communicate with the smart meter and deliver up to the minute time critical information to utilities that rely on a constant flow of real time data for business sensitive decisions. BrioWave technology intelligently manages energy consumption and can save consumer up to 70%. Attune RTD's flagship product, The BrioWave 175p™ (www.briowave175.com), is a low cost, scalable, interoperable platform intended to be an essential part of the smart grid infrastructure. For more information, please visit: http://www.attunertd.com
The statements contained in this press release contain certain forward looking statements, including statements regarding the company's expectations, intentions, strategies, and beliefs regarding the future. All statements contained herein are based upon information available to the company's management as of the date hereof, and actual results may vary based upon future events, both within and without the control of the company's management.
Attune RTD Investor Relations
Tel: (855) 274-6928 ext. 6
SOURCE: Attune RTD