AXTG Axis Technologies Group Inc (PK)

Axis Technologies Group, Inc. (Pink Sheets:AXTG) is pleased to announce that Great Lakes Tool Supply of Parma, Ohio, has added the Axis daylight harvesting and dimming fluorescent ballast (DDH) to their product line for distribution throughout Northeast Ohio. Great Lakes Tool Supply, Inc. is a family owned business founded in 1957 that serves all segments of the tooling components industry including, fasteners, tool steel, die springs, cutting tools, mold making, stamping, and the EDM sector. Great Lakes will enjoy the support of Michael Kennedy, the Axis Technologies factory representative based in Cleveland, Ohio. Mr. Kennedy has already begun to establish relationships with customers that are candidates for the Axis DDH ballast system in the Cleveland area. �We are very excited about the new association with Axis Technologies as their DDH ballast system will allow us to expand into the electrical and lighting product market� said Steven Denish, President of Great Lakes. �We are happy to welcome Great Lakes to our growing team of Axis distributors.� said Jim Erickson, President of Axis Technologies, Inc. �We are confident that we will benefit from their experienced sales force and the established customer base they currently service in Northeastern Ohio� added Erickson. About Axis Technologies Group, Inc. Axis Technologies Group, Inc. conducts its business through this wholly owned subsidiary Axis Technologies, Inc., a Delaware corporation headquartered in Lincoln, Nebraska. Axis Technologies, Inc. designs, manufactures and markets a proprietary line of energy-saving and daylight harvesting electronic dimming ballasts for the commercial lighting industry. The company's target market is small to large commercial users of fluorescent lighting including office buildings, wholesale and retail buildings, hospitals, schools, and government buildings. In 2002, Underwriters Laboratory (UL) approved Axis products for sale in both the United States and Canada. The Axis DDH ballast is priced competitively and is the only daylight harvesting ballast system that can be marketed as a replacement for a standard ballast. For further information on Axis Technologies, Inc., visit www.axistechnologyinc.com. About the Axis DDH Ballast A"ballast" is an electronic component that regulates voltage in light fixtures. Axis Technologies, Inc. has developed an innovative new ballast with the aim of expanding daylight harvesting, into mainstream lighting applications. The patented Axis Dimming/Daylight Harvesting Ballast (DDH) is a new technology that transforms the ballast, a once standard lighting industry staple, into a dynamic energy saving system that can reduce lighting energy costs by up to 70%. The Axis DDH Ballast utilizes an individual photo sensor to automatically adjust the amount of electrical current flowing to the light fixture and then dims or increases lighting in conjunction with the amount of available sunlight. The Axis DDH Ballast avoids "over-lit" conditions that increase energy costs by harvesting and utilizing free daylight from windows or skylights. As the amount of available daylight fluctuates the Axis DDH Ballast keeps lighting "tuned" to the desired level in a designated area. Safe Harbor Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.