MIAMI--(BUSINESS WIRE)--InfoSpi, Inc. (OTC: “ISPI”), (the “Company”), announced today that effective Monday, April 11, 2011, the Company had completed a name change to “Onteco Corporation” which will trade on the OTC market under the symbol, “ONTC” (OTC: ONTC).
“By this name change, we wanted to signal to the market that we are no longer the old company, and are pursuing an aggressive strategy into broader areas of technology that represent a faster return on investment, such as our NexPhase Lighting, Inc. acquisition,” said Onteco President and CEO, Dror Svorai. “We initially filed the name change in our home state of Nevada in late March, and have been waiting for the processing of the name change for the OTC market, which we are delighted is now happening.” He added, “As we move forward, you will see us reposition ourselves in our industry, and begin to rapidly implement strategies for quicker sales growth.”
About Onteco Corporation
Onteco Corporation was founded to develop innovative, practical and cost-effective solutions to some of the most significant environmental challenges facing us today. Additionally, these solutions must show promise of generating significant, ongoing profits for the company. The company determined that one industry that meets these criteria is the Energy Saving Lighting Industry, and as a result acquired NexPhase Lighting, Inc., in February 2011.
Additional information about Onteco Corporation is available at: www.Onteco.com.
Safe Harbor Statement:
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements.” Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "will likely", "should", "could", "would", "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company's ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.