BUDAPEST, HUNGARY 03/21/07 -- Power of the Dream Ventures (PDV), Hungary's premiere technology acquisition company is pleased to announce the signing of a Share Exchange agreement with TIA V, Inc. a fully SEC reporting Delaware registered corporation.
"Since the formation of PDV our goal has been to become the premier and only Hungarian technology acquisition company to trade on a US stock exchange. Last year we started operations with the TothTelescope project. Today we move closer to our larger goal by completing this reverse merger to become a fully SEC reporting enterprise.” remarked Viktor Rozsnyay, President of PDV. Our immediate next steps of equal importance are to acquire a variety of technologies and complete the filing of the necessary documentation to begin trading on the OTCBB exchange." Mr. Rozsnyay added.
Power of the Dream Ventures has been operating under the name Vidatech, a dully registered Hungarian Limited Liability Company. Upon completing the reverse merger TIA V, Inc was renamed Power of the Dream Ventures, Inc., and Vidatech LLP became a wholly owned Hungarian subsidiary of the Company through which operations are conducted. The company’s principal offices are located in Budapest, Hungary.
This release may contain "forward-looking statements" for the purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current expectations about its future plans and performance, including statements concerning the impact of marketing strategies, new product introductions and innovation, deliveries of product, sales, earnings, and margins. These forward-looking statements rely on a number of assumptions and estimates which could be inaccurate and which are subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Form 10-K and subsequent filings for a further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
Power of the Dream Ventures, Inc. is a premier holding company focused on technology acquisition and development enabling the delivery of revolutionary concepts and ready to market products to the international market place. We provide hands on support by developing-, acquiring-, licensing-, or co-developing technologies by offering a full range of services designed to encourage and nurture growth by virtue of access to the expertise of Power of the Dream Ventures' management team, and their substantial network of advisors and contacts. We develop-, acquire-, license-, or co-develop technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies and ideas from the very early stages on that represent "disruptive technologies."
Daniel Kun, Jr.
Source: Power of the Dream Ventures, Inc.