SAGINAW, MI--(Marketwire - Oct 18, 2012) - HPIL Holding (the "Company") (OTCQB: HPIL) is pleased to announce that on October 16, 2012, the Company's Board of Directors (the "Board") approved a resolution authorizing its wholly owned subsidiary HPIL HEALTHCARE INC. to develop certain Patents owned by the Company related to a "Massage Vibrator for the Relief of Aches and Pain." The product name is "IFLOR, Stimulating Massage Device." Moreover, the Board has authorized HPIL HEALTHCARE INC. to industrialize and manufacture "IFLOR, Stimulating Massage Device" in accordance with the Patents.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings.