Published:
UC Hub Group Inc. Signs Binding MOU to Be Acquired by Sky Pacific Innovations, a Patented Alternative Energy Company With $20 Million in Funding
UC HUB, INC. (OTCBB: UCHB), a publicly
traded company currently on the Over the Counter, announces that the
Company has signed a binding Memorandum of Understanding whereby Sky
Pacific Innovations Inc. will acquire 90% of UC Hub. Sky Pacific
Innovations represents they have patented mechanisms that generate energy
to the power grid or nearby storage units via vehicular traffic flows.
This extremely efficient form of alternative energy allows for always
increasing and predictable energy flows. Sky Pacific provides one of the
most efficient alternative forms of energy and one of the best ROI models
in the industry. Sky Pacific has spent over $1.8 Million developing this
patented technology and has up to $20 Million standing by for the
exploitation of this very exciting alternative energy solution. When other
companies pursue some less efficient forms of energy from geothermal,
biomass, hydro and other new forms of energy, Sky Pacific Innovations had
the vision to patent and potentially harness energy of the 1.5 billion
vehicles. Each vehicle that passes over this patented device will produce
energy. According to Sky Pacific Innovations, 22 vehicles a minute produce
$145,000 a month in revenue as a safe, low cost, pollutant free alternative
energy solution. With funding in place Sky Pacific is in the process of
closing their first government contract and expects to implement initial
phases of the first system the last quarter of 2008.
Management of UC Hub Group Inc. has been working diligently to find a
solution for the shareholders and the creditors and believe that a patented
Alternative Energy company that leverages existing vehicular traffic is an
excellent choice. The issue for UC Hub Group Inc. has been the lack of
funding and the debt which are serious encumbrances. Management has
continued to fund the companies in good faith while diligently searching
for a transition or company that may work for all concerned. Under the
present circumstances, Alternative Energy, funding, patents, and agreements
in place, Sky Pacific seems to be a very creative solution. The legally
binding MOU stipulates that the debt must be handled by stock in the parent
company (UC Hub Group Inc.) and its three or four subs which will be
potentially spun out to their own public entities. Management in some
cases is donating its own assets to this effort so the shareholders and the
creditors can take advantage of this patented global opportunity. The subs
that potentially will be spun out will also offer a discount on stock to
the UC Hub shareholders as management navigates all of the parameters of
such transactions.
Sky Pacific Innovations will bring in their credible management team of
PhDs and engineers and plan to appoint a new Board per regulatory policy
and procedures.
About UC Hub Group Inc.:
UC Hub Group Inc. operates as a software development, marketing and digital
distribution company for transaction based operations on the web and mobile
phone.
Safe Harbor Provision
This news release includes forward-looking statements, including with
respect to the future level of business for the parties. These statements
are necessarily subject to risk and uncertainty. Actual results could
differ materially from those projected in these forward-looking statements
as a result of certain risk factors that could cause results to differ
materially from estimated results. Management cautions that all statements
as to future results of operations are necessarily subject to risks,
uncertainties and events that may be beyond the control of UC HUB Group
Inc. and no assurance can be given that such results will be achieved.
Potential risks and uncertainties include, but are not limited to, the
ability to procure, properly price, retain and successfully complete
projects, the availability of technical personnel, changes in technology
and competition.
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