AXTG Axis Technologies Group Inc (PK)

Axis Technologies Group, Inc. (Pink Sheets:AXTG) announced today an update on the company's progress with introducing the Axis Dimming/Daylight Harvesting (DDH) Ballast system to utilities across the United States and Canada. The company is pleased to report that the Daylight Harvesting Rebate program is now offered by numerous utilities with additional power companies being added on an ongoing basis. Lighting rebates offered by local utilities are an incentive for commercial and residential consumers to reduce electrical consumption and reduce the associated energy costs. Many electric utility companies have initiated rebate incentive programs to off-set the cost of upgrading fixtures and encourage installation of products like the Axis DDH Ballast system. Most programs are organized through application-based processes with fixed rates for specific lighting fixtures. Rebates are determined in three ways. A defined dollar value per lamp ranging from $5 to $15 per lamp is one valuation method. For example, a 4-lamp fixture would generate up to a $60 rebate. Some utilities offer rebates of a set amount per ballast ranging from $25 to $40. And the third method is a prescriptive rebate based on the total kilowatt reduction for the overall project. Typically, this kilowatt reduction rebate can total up to 50% of the total cost of the lighting retrofit, including labor. Jim Erickson, President of Axis Technologies Inc., said, "The rebate programs offered by the numerous utilities to its customers�across the country and, recently, in Canada, is a welcome validation of the energy savings offered by the DDH Ballast system. A significant aspect of the rebate programs is the significant reduction in the time necessary for the consumer's return on the investment. This rebate initiative is an integral part of our business model to build consumer awareness and revenue. We look forward to greatly expanding the rebate programs to all States and throughout Canada." A partial list of utilities currently offering rebates include: Pacific Gas and Electric Los Angeles Department of Water and Power City of Palo Alto Utilities Silicon Valley Power Aquila, Inc. Excel Energy Connecticut Light and Power Tampa Electric Mid-American Energy Massachusetts Electric Minnesota Power Jersey Central Power and Light Portland General Electric Austin Energy Kansas City Power and Light Public Service of New Hampshire Utah Power/PacifiCorp Pacific Power The Axis Technologies, Inc. website (www.axistechnologyinc.com) has links to various utilities under �Lighting Rebates Available Now�, (www.axistechnologyinc.com/rebates.html) which lists most known rebates/incentives available. Consumers and investors are encouraged to reference the site periodically to remain updated on new utility additions to the rebate programs. Axis Technologies Group, Inc. has developed an innovative new ballast, an electronic component that regulates voltage in fluorescent lighting, that focuses on�expanding daylight harvesting into mainstream fluorescent lighting applications. The patented Axis Dimming/Daylight Harvesting Ballast 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 that may be harvested from available windows and sunlight. The Axis DDH Ballast avoids "over-lit" conditions that increase energy costs by keeping lighting "tuned" to the desired level in a designated area. Send an e-mail to ir@axistechnolgyinc.com to receive company press releases and industry updates. About Axis Technologies Group, Inc. Axis Technologies Group, Inc. (www.axistechnologyinc.com) conducts its business through a 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 Dimming/Daylight Harvesting (DDH) ballast is priced competitively and is the only daylight harvesting ballast system that can be marketed as a replacement for a standard ballast. 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.