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Nettel Holdings, Inc. Announces Decision to Engage Counsel to Comply With SEC Reporting

^{Published on 2010-05-18 07:00:40 - Market Wire}
 

VANCOUVER, WA--(Marketwire - May 18, 2010) - Nettel Holdings, Inc., (PINKSHEETS: [ NTTL ]) announced today that it has signed a retainer agreement with Stoecklein Law Group ("SLG"), to provide advice and assistance in bringing NTTL in compliance with the reporting requirements of the Securities and Exchange Act of 1934.

Michael Nguyen, President of NTTL, indicated that: "The engagement of Stoecklein Law Group is intended to facilitate the preparation and filing of our reports with the SEC, which in turn should allow us to comply with the eligibility requirements for the OTC:BB, and once again commence trading on the OTC:BB."

Mr. Nguyen further indicated that "NTTL had, like many other companies, seen some tough times in the last two years," and was desirous of seeing NTTL pursue its original business plan pertaining to its voice and facial recognition technology.

NTTL cautions investors in acquiring stock in the company as the result of the company's current intended plan to be sponsored back onto the OTC:BB, as the company will be required to obtain updated audited financial statements and complete the updating of its reporting obligations to the SEC.

Forward-Looking Statement: The statements in this press release regarding any implied or perceived benefits from the engagement of Stoecklein Law Group, or the company's being sponsored back to the OTC:BB, and any other effects resulting from any of the above are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, our ability to complete the financial statements that will require audits, risks and effects of legal and administrative proceedings and governmental regulation, future financial and operational results, competition, general economic conditions, and the ability to manage and continue growth.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents we file from time to time with the SEC. We undertake no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.