Exhibit 99.1: Press Release
Contact: Robert A. Lerman
860-683-2005
NEWS RELEASE OTCBB: TDYN
April 4, 2005
THERMODYNETICS Establishes April 15, 2005 for the
Previously Approved Reverse Stock Split
Windsor, CT - Monday, April 4, 2005 - Thermodynetics, Inc. (TDYN:OTCBB)
Thermodynetics' Board of Directors has set April 15, 2005 as the record date for
the one-for-five (1:5) reverse stock split and the split is effective as of
9:30a.m. on Monday April 18, 2005. The Company's transfer agent, Continental
Stock Transfer and Trust Company, will forward information and instructions to
shareholders in order to replace currently existing certificates with new
certificates reflecting the new number of shares. After the stock split, there
will be approximately 3,960,000 shares issued and outstanding, the exact number
is currently indeterminate as the effect of the stock split will result in the
rounding up of any fractional shares.
The purpose of this reverse stock split is to generally make the common stock
more attractive to investors and to create greater marketability of the Common
Stock. The Board of Directors believes that the reverse split will result in a
higher stock price which may help generate investor interest in the Company and
help the Company attract and retain employees and other service providers.
FORWARD LOOKING STATEMENTS
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This report contains certain forward-looking statements regarding the
Company, its business prospects and results of operations that are subject to
certain risks and uncertainties posed by many factors and events that could
cause the Company's actual business, prospects and results of operations to
differ materially from those that may be anticipated by such forward-looking
statements. Factors that may affect such forward-looking statements include,
without limitation: the Company's ability to successfully and timely develop and
finance new projects, the impact of competition on the Company's revenues,
changes in unit prices, and supply and demand for the Company's tubing product
lines in the markets served.
When used, words such as "believes," "anticipates," "expects,"
"continue", "may", "plan", "predict", "should", "will", "intends" and similar
expressions are intended to identify forward-looking statements, but are not the
exclusive means of identifying forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date of this report. The Company undertakes no obligation to
revise any forward-looking statements in order to reflect events or
circumstances that may subsequently arise. Readers are urged to carefully review
and consider the various disclosures made by the Company in this report, news
releases, and other reports filed with the Securities and Exchange Commission
that attempt to advise interested parties of the risks and factors that may
affect the Company's business.
Thermodynetics, Inc. through its Turbotec Products subsidiary is a
world leader in enhanced heat transfer technology and through Vulcan Industries
is a qualified supplier of fabricated tubing to the automotive and other
industries. Turbotec's enhanced surface tubing produced at Turbotec provides
higher energy efficiencies for applications in the biomedical, aerospace,
automotive, boiler, marine, food and beverage and residential/commercial heating
and cooling industries. Vulcan's state of the art bending, sizing, cutting and
shaping capabilities make it a preferred supplier to Tier 1 automotive
suppliers. The Company's tubing products support a wide array of automotive
component and heat transfer needs, including surface-enhanced tubing, single and
double wall coaxial condenser and evaporator coils and heat recovery systems.