BOCA RATON, Fla., Oct. 26, 2004 (PRIMEZONE) -- Pure H20 Bio-Technologies, Inc. (Pink Sheets:PHBT), Plaintiff, today announced receipt of an Order issued by the United States Federal Bankruptcy Court Western District Louisville Division. It was ordered by the Honorable Thomas H. Fulton that Defendant's Mazziotti's motion to Reconsider Order on Summary Judgment was Denied.
PHBT was awarded the sum of $896,619.50 plus 6% interest until fully paid from the 17th Judicial Circuit, Broward County, Florida. The award reflects a unanimous jury verdict against Joseph A. Mazziotti and Louis J. Mazziotti, Kentucky, for Fraud, Breach of Contract and Money Lent and triple damages for Theft under Florida Statute 772.11.
PHBT's CEO, Joseph P. Doxey, stated: "This is the fourth consecutive motion that has been denied against the Mazziotti's. Closure is forthcoming."
PHBT is a publicly held company specializing in the manufacturing, design and sale of its unique residential, commercial and hospital point-of-use potable water disinfection systems. These systems are specifically designed to work effectively against water-borne pathogens and remove heavy metals and objectionable biomass.
Note: The foregoing press release contains forward-looking statements that can be identified by such terminology as "expects," "potential," "suggests," "may," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations regarding future research, development, and/or commercial results could be affected by, among other things, uncertainties relating to the availability of future financing; unexpected regulatory delays or government regulation generally; the company's ability to obtain or maintain patent and other proprietary intellectual property protection; and completion in general. Forward-looking statements speak only as to the date they were made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For further information regarding PHBT, please visit our website @ www.pureh2obiotech.com