Hi Score Corporation (HSCO) Enters Agreement for Energy Saving LED Street Lights

High Score Corporation announced today that it has entered into a licensing agreement with NexPhase Lighting whereby Hi Score will work together with NexPhase to develop a line of Energy Saving LED Street Lights and Parking Lot Lights. 
Over the past year, Hi Score, through its subsidiary Green Led Technologies has been attempting to enter into an agreement with a local manufacturing company wherein GLT would become the owner of the design and all intellectual Property rights to a line of Energy Saving LED Street and Parking Lot Lights. This milestone has been and still is the primary thrust of the company's business plan. The achievement of this goal has been contingent upon the fulfillment of certain funding agreements that have been previously disclosed.

In spite of earnest efforts on the part of management this funding has not fully materialized. As a result, the previous President of the company, Dror Svorai, stepped down from his position as CEO and created an LED Lighting Factory. This new factory, NexPhase Lighting has entered into a favored agreement with Hi Score wherein Hi Score will become a beneficial owner of a line of American Made Energy Efficient LED Street Lights and Parking Lot Lights. The agreement favors Hi Score insomuch as Hi Score will own all Intellectual Property Rights to these lines of products at a price that Hi Score can afford without obtaining additional funding.

The American Made Energy Efficient Street Light Line will be produced under The Green Led Technology Label. The prototype is expected to through testing by October and is expected to be ready for distribution by the end of the year. This will enable the company to begin distributing the line through its contracted wholesale distributor within the first quarter of 2011. The company's business plan has set a goal of selling one million Street lights over the next ten years which should generate over half a billion dollars in revenue during that period.

Michael Zoyes, CEO of Hi Score, said, "This has been a long road with many obstacles but Dror and I do not have any quit in us. We both believe that there is always a way to meet your goals and we fully expect to meet ours." 

About Hi Score

Hi Score Corporation is a leading supplier of eco-friendly lighting products in the Western Hemisphere. It offers its customers the fiscal and ecological practicality of utilizing safe, efficient, solid state green lighting rather than conventional fluorescent and incandescent bulbs. The Company offers the widest selection of high quality, long lasting LED lighting products that that can replace existing incandescent, fluorescent and halogen bulbs as well as compact fluorescent lights. Additionally the Company offers Compact Fluorescent and Halogen Lighting under its EcoGreenBulb and REPCO Labels, respectively. The Company sells its products directly to distributors, consumers, businesses as well as to municipalities.

Safe Harbor Statement: This release includes "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 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties. 
Hi Score Corporation
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