PowerSafe Technology Corp. Announces Reverse Split

NEW YORK--(BUSINESS WIRE)--PowerSafe Technology Corp. (PWSF.OB) has implemented the process to reverse split its outstanding shares of common stock on the basis of one (1) post consolidated share for each three (3) pre-consolidated shares. The authorization of the board of directors to effectuate such action was granted by the shareholders of the company at a special meeting called for such purpose.

The reverse split will become effective as of October 2, 2008 or as soon as practicable thereafter. As a result of the split, the company will have 2,358,333 shares of common stock issued and outstanding.

Powersafe is continuing with ensuring that Amplification Technologies Inc. is meeting the conditions for its pending merger with Powersafe and expects that the transaction will be consummated in the next several weeks.

About PowerSafe Technology Corp. (PWSF.OB)

PowerSafe Technology is focused on completing its merger with Amplification Technologies and developing Amplification’s extremely sensitive patented photodetector technology.

Amplification Technologies Inc.

Based in New York, Amplification Technologies seeks to transform the field of low-level signal detection. The Company’s patented platform semiconductor technology has the potential to offer unparalleled and far-reaching benefits to industries such as medical diagnostics, drug development, scientific instrumentation and homeland security. The technology has been successfully used to develop extremely sensitive detectors of low levels of light and the company believes its detectors will be used in many existing applications as well as open up new markets. ATI’s technology is patented to encompass detection of signals other than light, and could in principle be used to create highly sensitive biological, radiological, electrical, and chemical sensors.

Forward-Looking Statements

This release contains 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. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of PowerSafe and Amplification. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties inherit herein and set forth in PowerSafe’s SEC filings and such other matters as are contained therein. These risks and uncertainties could cause actual results to differ materially from those indicated in the forward-looking statements.

Media:
Fusion PR
Romina Varriale, 212-651-4216
romina.varriale@fusionpr.com
or
Investors:
Amplification Technologies Inc. and
PowerSafe Technology Corp.
Jack N. Mayer, 718-951-8021