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SwissINSO Issues Chairman's Letter to ShareholdersLAUSANNE, Switzerland --(Business Wire)-- SwissINSO Holding Inc. (OTCQB:SWHN), a pioneer in the development and application of new solar technologies that enable the efficient and aesthetic integration of solar energy production into any building, today issued a Letter to Shareholders from its Chairman and CEO, Rafic Hanbali, reviewing the progress of its operations, certain organizational changes and outlook for 2014. The following letter will be posted on the Company's website. Dear Shareholders, Several key milestones in the evolution and expansion of SwissINSO have now been achieved, and our Company's technology is now rapidly progressing towards various markets. Our Company has now secured the supply chain, and the first consistent contracts have been signed for installation of Kromatix panels in the 4th quarter of this year. Several major agreements are in negotiation. In a future press release in 2014, and within what we can commercially disclose, more details will be given. Whilst we continue to prudently manage cash burn and working capital, we are now leveraging upon our current human resources to ensure we continue to operate in a lean but effective manner and have all hands on board, including those of our board members, totally dedicated to the execution of the plans, contracts and agreements in hand. Therefore the following changes have been brought to our organization structure:
The letter from this law firm came after it made its "investigation" and allegations public with a link aimed at recruiting possible claimants. If the law firm had been responsible and simply written to us on behalf of its client asking for an explanation, we would have replied that the Board had amended the 2009 Stock Incentive Plan on June 1, 2012 to delete the maximum share provision and that the subsequent issuance of the options was fully in compliance with the plan. We have written to the law firm demanding that it publish a retraction of the slanderous and unfounded allegations that it was so quick to make public without having done its homework to determine the accuracy of its claims. I sincerely hope that you will see this law firm's letter as the total non-issue that it is and join with me in looking forward to the exciting times to come. Thank you for your confidence
Rafic Hanbali "Safe Harbor" Statement: A number of statements contained in this press release are forward-looking, made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including our ability to raise capital when needed and on acceptable terms and conditions, the intensity of competition and general economic factors. The actual results SwissINSO Holding Inc. may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. SwissINSO Holding Inc. encourages the public to read the information provided here in conjunction with its most recent filings, which can be viewed at: http://www.sec.gov.
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