AXTG Axis Technologies Group Inc (PK)

Axis Technologies Group, Inc. (Pink Sheets:AXTG) today announced�its distribution network has expanded to over 500 sales representatives in 36 states across the U.S. and Canada. Approximately 20 representative agencies are offering the Axis Dimming/Daylight Harvesting (DDH) Ballast system, an innovative and proprietary energy saving product, to their clients. In addition, Axis has national agreements with several of the largest electrical wholesalers with a total of over 2000 locations. The company anticipates marketing coverage for the entire U.S. by the end of the year. Jim Erickson, President of Axis Technologies Inc., said, "We are very encouraged by the response by the lighting industry to our DDH product. The pace of adding to our marketing network has quickened substantially in the past three months with OEM's, wholesalers and individual corporate clients ordering our product and generating the ancillary benefit of building awareness of Axis Technologies. We have been receiving a great deal of interest from major corporations who have expressed their desire to be on the leading edge of environmentally conscious pro-activity in conducting business. The corporate world has the potential to be a very significant part of our revenues going forward as the quest for contributing to a solution to global warming as a corporate citizen gains importance." Mr. Erickson added, "With the government sector also highlighting the need to implement alternative solutions for lighting and the use of energy, we are finding local, state and federal government interested in the benefits of the DDH system. For example, we have plans to retrofit a number of school systems in a number of cities during the school summer vacation." As previously reported, the Daylight Harvesting Rebate program offered by numerous utilities is gaining momentum providing the company with a surrogate sales force without the costs normally associated with building a dedicated sales and marketing organization. In addition, the company is developing a related product line focused on the utility industry's management of peak load demand. 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.