Energy Edge Technologies Corporation (EEDG) Past, Present and Future

ATLANTA, June 10, 2013 /PRNewswire/ -- The following is a report by Energy Edge Technologies Corporation EEDG CEO James Boyd on progress company has made since he assumed office.

• We have eliminated a considerable amount of debt produced by Energy Edge Solutions.
• We are working to pay off the remaining $150,000 of debt
• We submitted an 8k detailing the executed modification agreement and now EEDG owns 100% of Dry Fried Wings. This is a major accomplishment for the brand.
• We terminated all consulting contracts. John Walker and Harold Kestenbaum resigned from the Board. We thank them for their contributions.
• I am the watchdog over stock issuances. All future consulting contracts will be connected to scheduled deliverables. We will no longer compensate consultants "today" for tomorrow's performance.
• I am focused on:
  • Opening our first company owned and operated Gourmet Wing Restaurant in the Atlanta area
  • Today I met with the architect, general contractor and leasing agent to develop cost projections for the downtown location.
  • New Restaurant development Process:
    • Securing the location
    • Complete demographic analysis
    • Complete traffic counts
    • Developing architectural plans
    • Develop cost estimate
    • Securing architectural permits
    • Submit to general contractor for bid
    • Submit plans to equipment and sign suppliers for bid
    • Construction start
• Our investment strategy has changed considerably. We invested a considerable amount of capital initiating our licensing program. I determined that strategy was not as sustainable and not as scalable as franchising. While we intend to honor our commitment to our licensees we are moving with all due haste to a franchising model. We are in discussions with a well-capitalized physician and his son for locations in Milwaukee and Tallahassee. We must first complete our Franchise Disclosure Document (FDD). The FDD is a legal document which is presented to prospective buyers of franchises in the pre-sale disclosure process in the United States.
• Master Franchising- Big Chow Grill. We are still in discussions.
• China Moon Express-We are just beginning our talks to finalize a franchise development agreement.
• Cu'i- We are scheduling meetings with Kroger and other large retailers.
• Financing- I have several offers for financing and I am still performing due diligence to ensure the loans are not toxic. We can avert harming our shares because the stock is restricted for six-months and we will have at least one restaurant location opened by that time. I would be happy to entertain other offers of financing.
• I am establishing deliverables connected to sales and profit projections for Energy Edge Solutions and the restaurant group. Both entities must produce profitable revenues.
• We will delay any spin-off until each entity has sufficient assets.
• A name change will follow shortly thereafter.
• I am interviewing several very experienced candidates to fill the role of Chief Financial Officer. This will be a part-time position.
• Friday, August 9, 2013 is the next filing date for the 10Q and we will file on time.

"As I reshape our company, we intend to be fully compliant with SEC reporting requirements as we pursue our plan to continue adding new brands to our expanding portfolio. Our strategy is to become a meaningful participant in the food and beverage category," said James Boyd, a former top executive with Popeyes Chicken, Quizno's and other concepts.

Media contact: Tom Madden 561-750-9800 x211; tmadden@transmediagroup.com

This release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. Important factors known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, ability to compete successfully, and ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.

SOURCE Energy Edge Technologies Corporation