GMTH GMTech Inc (PK)

Global Matrechs, Inc. http://www.globalmatrechs.com (OTCBB: GMTH) today provided an update on the status, progress and prospects of various aspects of its business. Global Matrechs's licensed technology portfolio includes next-generation technologies that provide advanced safety and storage solutions for the nuclear, environmental and chemical industries. Global Matrechs' intends to direct these technologies to serve the Homeland Security sector. The company is also exploring the possibility of strategic acquisitions or technology transfers for businesses or products currently generating revenues and complimentary to the licensed NuCap(TM) (nuclear storage and containment) and HNIPU (non-toxic polyurethane) technologies. The company is also considering opportunities in the non-lethal weapons sector. For full details on the company's diverse licensed technologies, visit www.globalmatrechs.com. Current business developments include: -- Delivery of a pilot order for HNIPU (www.globalmatrechs.com/PHNIPU.html) to a Belgian company. Global Matrechs hopes to receive an update on the status of this company's evaluation of the product before year end. -- Delivery of a pilot order for NuCap(TM) (www.globalmatrechs.com/PNCAP.html) to Siemens. Global Matrechs expects Siemens to complete its evaluation of the product by year end. Global Matrechs expects to be present for this important test in a nuclear power plant in Germany. Siemens manages many nuclear power plants Germany and France. -- Global Matrechs plans to meet with the new management company responsible for the Hanford nuclear site in Washington State. We expect this meeting to take place during November. We have a small amount of inventory of NuCap(TM) at the facility and hope it will be used by this management group. -- Global Matrechs is in the final process of negotiating a master manufacturing agreement for all of its commercial manufacturing of NuCap(TM) with Dow Corning. We hope this will be completed by year end. -- Global Matrechs is in negotiations with Global Demolition for representation of NuCap(TM) with a non-exclusive agreement for the eastern part of the United States. Global Demolition is working on many new possibilities for the use of NuCap(TM) in non-nuclear demolitions. -- Global Matrechs is in negotiations for the encapsulation of over 2000 drums of a poison that are leaking into the ground. -- Global Matrechs is in negotiations for the encapsulation of 181 tanks with nuclear waste. -- Global Matrechs is in negotiations with a German company for non-exclusive marketing and distribution rights for NuCap(TM) to eastern European governments, with a particular focus on the Ukraine and the Chernobyl site. About Global Matrechs: www.globalmatrechs.com Since the sale of substantially all of the assets of the company's hosting and website maintenance business to Tulix, Global Matrechs has operated its licensed technologies business. Through its licensed technologies business, Global Matrechs seeks to convert the licenses it has acquired in emerging technologies in the nuclear energy, environmental and chemical industries into manufactured products primarily through sub-licenses of those technologies to manufacturers. "Forward-Looking Statements" Investors are cautioned that certain statements contained in this document, as well as other statements in periodic press releases and some oral statements of Global Matrechs, Inc. officials during presentations, are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, or which include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", "hopes," "seeks," or similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future actions, which may be provided by management, are also forward-looking statements as defined by the Act. Some of the factors that could significantly impact these forward-looking statements in this press release include, but are not limited to: insufficient cash flow to continue to fund the development and marketing of the Company's products and technologies; the failure of the Company's products and technologies to become commercially marketable; the loss of key personnel; changes in financial markets and general economic conditions; and, disputes as to the Company's intellectual property rights, including the Company's rights to the technologies that it licenses from Eurotech, Ltd. Forward-looking statements are based upon current expectations and projections about future events and are subject to risks, uncertainties, and assumptions about Global Matrechs, its licenses, products, economic and market factors and the sectors in which Global Matrechs does business, among other things. These statements are not guarantees of future performance and Global Matrechs has no specific intention to update these statements. More detailed information about those factors is contained in Global Matrechs's filings with the Securities and Exchange Commission.