The report was prepared by Hanover Federal Capital Corporation as part of the due diligence process for Itonis, Inc.'s recent acquisition of Paramount Discoveries. A complete copy of the report is available for review on Itonis' website at www.itonisholdings.com.
The valuation report cited Paramount Discoveries' Electro-Magnetic Frequency Technology capabilities for magnetizing elements and compounds such as carbon, silver, and salt. Paramount Discoveries' ability to create and sustain an indefinite magnetic moment in these natural elements and compounds is expected to generate unprecedented applications in the industrial, manufacturing, mining, agricultural, and "green" technology sectors.
"The valuation report confirms our confidence that Itonis has acquired a highly valuable asset in Paramount Discoveries that is expected to translate into substantial value for ITNS shareholders," said Mark Cheung, CEO of Itonis Holdings.
Paramount Discoveries is making its Electro-Magnetic Frequency Technology available for licensing in 2012.
Paramount Discoveries, Inc.
Paramount Discoveries, Inc. is a scientific research company originally founded in 1995 by Stuart Robbins. They have developed a proprietary technology that can stimulate magnetism in several common natural elements and minerals. For more information visit www.paramountdiscoveries.com
About Itonis, Inc.
Itonis, Inc. (the "Company") was incorporated in the state of Nevada on July 5, 2005 under the name of Kenshou, Inc. Subsequently, its name was changed to its present name, Itonis, Inc., on December 2, 2005. For more information visit www.itonisholdings.com
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's affiliates that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.