12 Retech Corporation, through its subsidiaries, operates an integrated retail platform in Asia, North America, and Europe. Its platform includes 12Mirror, an in-store application, which recognizes clothes that a person is fitting and takes pictures, which are shared with friends and family, as well as detects products, gives information, and collects data from consumers and products for the shop, designer, and manufacturer; and 12Kiosk, an in-store application, which browses and detects products, provides information, and place orders for consumers.
Average daily volume for RETC is 5 million shares. Today’s news has causes the volume to spike over 56 million shares in the morning hours of trading.
12 Retech Corp. Press Release:
Carson City, NV & Hong Kong, Oct. 11, 2018 (GLOBE NEWSWIRE) — 12 ReTech Corporation (RETC) announced today that it’s wholly owned subsidiary, Emotion Fashion Brands, Inc. has opened their factory boutique store in Salt Lake City, Utah where they are selling contemporary women’s fashion apparel by Emotion Fashions and Lexi Luu children’s dancewear.
12 ReTech is also using the facility to show off components of its 12 Technology Suite.
Angelo Ponzetta, 12 ReTech’s CEO stated, “Just as we have done in Europe where we are building a demonstration facility for our 12 Technology Suite, we have set up a demo facility in our Salt Lake City, Utah Emotion Fashion boutique. Today, we are demonstrating the 12AdScreen but soon, we will be able to demonstrate additional capabilities from our full technology product line and show the benefits to retailers. We anticipate that in the next 30 days, we will be able to demonstrate our fully functional 12Mirror and 12 AdScreen to interested retailers and merchants whom we will bring to our Salt Lake City, Utah location.”
Angelo Ponzetta, 12 ReTech’s CEO continued, “This new facility is designed as a factory store where we can show to other consumer brands who operate their own factory stores, what our technology can do to enhance and increase shopper engagement. It will feature a dressing room and merchandise displays in a floorspace of approximately 1,000 square feet. We will be integrating our 12 Technology Suite into the fabric of the factory store operations for the benefit of our own consumer brands. Having this facility in place represents an excellent way to get in front of prestigious consumer brands and show them how our technology can provide value to their businesses.”
Hub Blanchett, CEO of Emotion Fashion Brands commented, “This technology is really engaging and adds a lot of value to our store. I’m excited to be able to see the rest of the technology working in our store, soon!”
Angelo Ponzetta, 12 ReTech’s CEO concluded, “We are also making good progress on our previously announced Zurich based 12 Technology Demonstration and Fashion Showroom. I anticipate being able to host some of Europe’s luxury brands in our new European Union facility within the next 30 days.”
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e086d658-0a80-4926-91ef-60ee73b5063f
About Emotion Fashion Brands, Inc.
“Fashion for Every Mood…For Every Woman!”
We started our business in sunny California during 2011 and offer clothing that is equal parts wearable art & fashion for the “every day woman”. Since then, Emotion Fashion Brands, Inc. has acquired other brands that benefit from our USA production, design and marketing expertise which speaks to specific niche markets like: Lexi-Luu Dancewear, Punkz Gear, Cleo VII and Skipjack Dive & Dance Wear. For more information please visit our website at www.emotionapparelinc.com. You may also see us on Instagram at www.instragram.com/emotionfashions.
About 12 ReTech Corporation:
At our core, we are a software company whose technology allows retailers to combat the dual threats of Walmart and Amazon — both online and in physical stores. Our microbrand rollup acquisition strategy allows us to demonstrate the effectiveness of our software, devise and test new products, while providing shareholder value through immediate revenue and earnings growth. The Company operates through our subsidiaries on three continents: 12 Hong Kong, Ltd., 12 Japan, Ltd., 12 Europe A.G., 12 Retail Corporation (and its subsidiaries in North America, including Emotion Fashion Group, Inc.). For more information please visit our website at www.12ReTech.com.
12 ReTech Corporation is publicly listed on the OTCQB Markets under the symbol RETC.
Safe Harbor: This document contains certain 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, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words “estimate,” “anticipate,” “expect,” “believe,” and similar expressions are intended to be forward-looking statements.
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