- Continuing to Pursue Financing Alternatives -
CHANTILLY, VA,
Jan. 3, 2013 /CNW/ - BlueScout
Technologies TSXV: SCT, providers of the BlueScout OCS-210 for
optimized wind energy generation, announced today a reduction in
headcount of 9 employees resulting in the reduction of normal
day-to-day operations to conserve cash. To date, even though
the Company has not paid out any damages relative to legal
disputes, the increasing cost of defending against multiple legal
actions by the former founder/CEO and his wife, Phil and Alisa Rogers, and their company Optical
Air Data Systems LLC ("OADS") has severely impacted the cash flow
and operations of the Company.
BlueScout's viability and ability to continue as
a going concern is dependent on securing additional capital.
BlueScout continues to actively seek to raise additional capital
through debt, equity or other capital raising efforts while also
considering other strategic alternatives. There can be no
assurance that BlueScout will be able to successfully obtain
financing or that any sale of assets or other strategic
transactions can be successfully consummated.
About BlueScout
BlueScout Technologies (TSXV: SCT) increases energy production and
decreases operating costs by applying groundbreaking
microgeographical wind flow sensing to turbine control systems that
increases the effectiveness and availability of wind turbines.
BlueScout combines precise, optically based wind forecasting with
advanced predictive control architectures to ready the turbine for
the imminent wind inflow changes - optimizing energy production and
reducing the harmful effects of wind turbulence on the turbine.
With extensive operating data on multiple wind turbine models,
BlueScout is the leading, value-added innovator in wind turbine
performance and optimization.
Forward-Looking Information
This news release includes certain forward-looking statements
within the meaning of Canadian securities laws. Forward-looking
statements involve risks, uncertainties and other factors that
could cause actual results, performance, prospects and
opportunities to differ materially from those expressed in such
forward-looking statements. Forward-looking statements in this news
release, include, but are not limited to, economic performance and
future plans and objectives of BlueScout Technologies. Any number
of important factors could cause actual results to differ
materially from these forward-looking statements as well as future
results. Although BlueScout believes that the assumptions and
factors used in making the forward-looking statements are
reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the
disclosed timeframes or at all. BlueScout Technologies disclaims
any intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events or
otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE BlueScout Technologies
