Techalt, Inc. Closes Asset Purchase of Rim-Ice Product Formula and Trademark

SEATTLE--(BUSINESS WIRE)--Techalt, Inc. (Pink Sheets: TCLT) ("Techalt" or "Company") today announced that it has finalized the acquisition of the product formula and trademark rights for the automotive product, Rim-Ice. Gorlen, Inc. (“Gorlen”), owner of the Rim-Ice product formula and trademark, and Techalt formalized and executed an Asset Purchase Agreement to complete the initial stage of the purchase. Gorlen’s Rim-Ice brake dust repellent has been sold to automotive dealerships, auto surplus stores, drug stores, auto parts stores, and private individuals around the globe.

With Rim-Ice’s prior retail success at Napa Autoparts, BMW, Volvo, Nissan and other major market leaders, Morey Plavin, a business advisor for Rim-Ice, predicts significant growth potential. Having the evaluated the market and product, Mr. Plavin commented that “with the right marketing team, companies with similar backgrounds have grown to $200 million in sales. This is a great marriage and without a doubt Rim-Ice has the equivalent potential.”

Under the Asset Purchase Agreement, Gorlen agreed to immediately exchange the Rim Ice Assets for (i) Techalt common stock that have a cumulative, market value of $325,000.00 and (ii) cumulative cash payments for a total of $975,000.00 over the next twenty-four months. Permanent transfer of the rights is subject to Techalt’s completion of these payments.

Rim Ice has selected a President, to be announced upon completion of his employment agreement. Techalt has embarked on the initial development of a national marketing campaign to reach its target market using a combination of radio, television, online and direct distribution methods.

About Gorlen, Inc./Rim-Ice:

Rim-Ice is a consumer product designed and developed by Gorlen, Inc (“Gorlen”). Gorlen is a specialty chemical company which specializes in the innovative design and development of new consumer products for the automotive industry.

About Techalt:

Techalt is a public holding company dedicated to pursuing acquisition, licensing and financing opportunities with start-up and mid-stage companies. Techalt focuses on companies with innovative or alternative technologies, particularly in the software, communications, environmental and health and wellness sectors.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("the Exchange Act"), as such, may involve risks and uncertainties. Forward-looking statements are based upon certain assumptions and describe future plans, strategies and expectations, are generally identifiable by the use of words as "believe," "expect," "intend," "anticipate," "project," or other similar expressions. Forward-looking statements relate to, among other things, future performance, and perceived opportunities in the market and statements regarding the Company's mission and vision. The Company's actual results, performance and achievements may differ materially from the results, performance, and achievements expressed or implied in such forward-looking statements. Additional factors could materially affect these forward-looking statements and/or predictions include, among other things: (1) managing acquisitions and expansion of operations; (2) obtaining necessary financing and managing existing debt; (3) completing the investigation, acquisition and integration of new business opportunities; (4) complying with federal, state and local government and international regulations; and (5) other factors over which we have little or no control.

Techalt, Inc.
David Moore, 206-262-9545