AccelPath, Inc. and Energy Innovative Products Provide Merger Update

     AccelPath, Inc. and Energy Innovative Products Provide Merger Update

PR Newswire

NEW YORK, April 14, 2014

NEW YORK, April 14, 2014 /PRNewswire/ -- AccelPath (symbol: ACLP.OB ) and
Energy Innovative Products, Inc., a privately held Nevada corporation (EIP),
have provided additional information regarding the status of their previously
announced merger transaction.

AccelPath and EIP have entered into an Agreement and Plan of Reorganization
dated as of October 24, 2013, which will result in EIP becoming a wholly-owned
subsidiary of AccelPath. It is expected that the equity holders of EIP will
become the holders of approximately 76% of the total outstanding capital
stock, on a fully diluted basis, upon completion of the transaction. EIP has
previously acquired shares of preferred stock of AccelPath representing
approximately 14% of AccelPath and conversely, AccelPath has acquired shares
of Common Stock of EIP representing 19% of the issued and outstanding Common
Stock of EIP. For accounting and financial reporting purposes under
Securities and Exchange Commission rules, the transaction is expected to be
treated as a reverse merger. Management of EIP will become management of
AccelPath upon completion of the transaction. A majority of the Board of
Directors of the post-merger company will be represented by persons associated
with EIP.

The parties anticipate the transaction will be completed within approximately
the next 45 days. AccelPath has recently completed updating its filings with
the SEC under the Securities and Exchange Act of 1934, as amended and believes
it is now current in its filing requirements. Since execution of the
agreement with AccelPath, EIP has been working towards completing an audit of
its financial statements, which would be required to be filed with the SEC
following the completion of the transaction, as well as completing employment
and compensation agreements with its executive officers, structuring its board
of directors for the post merger company and strengthening its business
operations.

EIP provides a comprehensive range of energy solutions, using leading
proprietary technology. EIP designs, develops and markets products which
reduce energy usage in Ice Machines, Freezers, Coolers, Refrigerators and
other AC induction motor applications. EIP is an approved market partner of
the Con Edison Green Team and is approved vendor under the EPA's, Energy Star
Partner program. In addition, EIP provides energy audits, retro-fits, and
price savings in energy supply of natural gas and electricity. EIP has
developed a small, easy to install, patented single-phase motor controller
device known as the EIP-2 that reduces energy consumption by reducing the
electricity used in an AC induction motor. The EIP controller also reduces
noise while maintaining temperature levels. AC Induction Motors are the most
ubiquitous energy-consuming device in the home, workplace and the food and
beverage industry. It is estimated that AC Induction Motors consume 65% of
all the energy used in the United States. EIP is currently working with a
large utility in the Northeast portion of the United States to confirm the
efficacy of its motor controller device in order to certify eligibility for
purchase rebates.

Consummation of the merger is subject to usual and customary closing
conditions. In addition, the parties must satisfy several other closing
conditions in order to complete the merger transaction. AccelPath is required
to undertake a recapitalization and restructuring of its equity and debt on
terms satisfactory to EIP, and the parties are required to obtain necessary
shareholder approvals for the proposed reverse merger as may be required under
state law.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995:

This press release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These statements
relate to future events or AccelPath's future financial performance. Any
statements that are not statements of historical fact (including without
limitation statements to the effect that the Company or its management
"believes", "expects", "anticipates", "plans", "intends" and similar
expressions) should be considered forward looking statements that involve
risks and uncertainties which could cause actual events or AccelPath's actual
results to differ materially from those indicated by the forward-looking
statements. There are a number of important factors that could cause
AccelPath's actual results to differ materially from those indicated by the
forward looking statements, including those factors described under "Risk
Factors" in the Company's periodic reports filed with the U.S. Securities
Exchange Commission, including its Annual Report on Form 10-K. In light of the
significant risks and uncertainties inherent in the forward-looking statements
included herein, the inclusion of such statements should not be regarded as a
representation by the Company or any other person that the objectives and
plans of the Company will be achieved. Accordingly, you are cautioned not to
place undue reliance on forward-looking statements. The forward-looking
statements contained in this press release are made as of the date hereof and
may become outdated over time. AccelPath undertakes no obligation to publicly
update or revise any forward-looking statement as a result of new information,
future events, and changes in expectation or otherwise, except as required by
law.

SOURCE AccelPath, Inc.

Contact: Gilbert Steedley, Interim Chief Executive Officer, (212) 994 9875,
info@AccelPath.com
 
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