-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DhWsz6f3uTgPsXhiwFjLcyGMT0mddr+TbWtFiXx8Gfdg+0SlqrUYjHxjccWpCoae V/k0jJ9bwCLtubtkndY9zA== 0001116502-07-002010.txt : 20071030 0001116502-07-002010.hdr.sgml : 20071030 20071030162620 ACCESSION NUMBER: 0001116502-07-002010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071030 ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20071030 DATE AS OF CHANGE: 20071030 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PURADYN FILTER TECHNOLOGIES INC CENTRAL INDEX KEY: 0001019787 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 141708544 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11991 FILM NUMBER: 071199887 BUSINESS ADDRESS: STREET 1: 2017 HIGH RIDGE ROAD CITY: BOYTON BEACH STATE: FL ZIP: 33426 BUSINESS PHONE: 5615479499 MAIL ADDRESS: STREET 1: 2017 HIGH RIDGE ROAD CITY: BOYTON BEACH STATE: FL ZIP: 33426 FORMER COMPANY: FORMER CONFORMED NAME: T F PURIFINER INC DATE OF NAME CHANGE: 19960726 8-K 1 puradyn8k.txt CURRENT REPORRT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) October 30, 2007 ---------------- Puradyn Filter Technologies Incorporated - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Its Charter) Delaware - -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 0-29192 14-1708544 - -------------------------------------------------------------------------------- (Commission File Number) (IRS Employer Identification No.) 2017 High Ridge Road, Boynton Beach, Florida 33426 - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) (561) 547-9499 - -------------------------------------------------------------------------------- (Registrant's Telephone Number, Including Area Code) - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [_] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [_] Pre-commencement communications pursuant to Rule 133-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) ITEM 7.01 REGULATION FD On October 30, 2007, Puradyn Filter Technologies Incorporated issued a press release announcing that initial orders have been placed for the PURADYN(R) oil filtration system by one of the largest global providers of innovative mechanical solutions, technology, and services for the oil and gas industry. A copy of the press release issued by the Company on October 30, 2007, is filed as an exhibit herewith. (c) Exhibits 99.1 Press release of the Company dated October 30, 2007. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PURADYN FILTER TECHNOLOGIES INCORPORATED By: /s/ Joseph V. Vittoria ------------------------------------ Joseph V. Vittoria, Chairman and Chief Executive Officer DATED: October 30, 2007 3 EX-99.1 2 ex99-1.txt PRESS RELEASE EXHIBIT 99.1 puraDYN [LOGO] MAJOR OIL FIELD SUPPLY COMPANY BORES THROUGH HIGH COST OF OIL - Entire U.S. fleet of 600+ to be retrofit over the coming months with PURADYN(R)oil filtration system - BOYNTON BEACH, FL - [October 30, 2007] - Puradyn Filter Technologies Incorporated (OTCBB: PFTI) today announced that initial orders have been placed for the PURADYN(R) oil filtration system by one of the largest global providers of innovative mechanical solutions, technology, and services for the oil and gas industry. A spokesperson for the customer stated the plan is to have PURADYN systems installed on the entire fleet of over 600 pieces of equipment in the U.S., consisting mainly of compressors, generators, pumps, light towers and other equipment used in oil well drilling service support, over the coming months. Foreign installations will be considered later. The reputation of this customer and the fact that it is installing PURADYN systems without lengthy evaluation will greatly enhance the Company's sales opportunities. According to Wayne Clifton, Director of Sales, Puradyn, "This customer is installing the PURADYN system to reduce its operating costs and increase the life of their equipment. The conditions under which its equipment is used is extremely harsh and extremely demanding; for the most part situated in remote locations and, in some instances, operating on a continuous 24/7 basis." Mr. Clifton went on to say, "Due to these types of conditions, the payback on investment of the PURADYN system is relatively short, anywhere from 6 to 8 months. The new program under which the PURADYN systems are now being used allows this customer to modify its maintenance program to better fit manpower, resources, and logistical operations. In other words, given the remote locations they have to deal with, at times it's physically difficult to reach some of the equipment. By safely extending service intervals, which we're able to do, this provides better overall performance of the equipment and their service teams now have the added benefit of less downtime on each piece of equipment, allowing more time at each location to perform other service and repairs." Joseph V. Vittoria, Chairman and CEO, Puradyn, said, "As demonstrated by this application and others now being negotiated, the PURADYN oil filtration system can help to significantly reduce the approximate 2 billion gallons of lube and hydraulic oil consumed in the U. S. each year. Of this massive amount, approximately 1.5 billion gallons are used for motor oil, automotive transmission fluid and gear oil with another 0.53 billion gallons per year used for hydraulic, turbine, and gear oils, heavy-duty equipment and metal working fluid. "In October, the price of oil touched or surpassed $90 and $100 per barrel no longer seems extreme. "While this is not good news for the economy, it has opened up a number of new opportunities for alternative technologies, such as bypass oil filtration, a process that cleans oil within the engine while the equipment is running, removing solid particulates to below one micron and replenishing the oil's base additives consumed through normal use. When oil is kept clean and additives are replenished, it eliminates the necessity of changing oil. As a result, we're now receiving a number of calls from major companies interested in finding out how to conserve oil while at the same time run a more efficient fleet and save money." Mr. Vittoria concluded, "Given the massive amounts of oil consumed by the U.S. for automotive and industrial purposes, we know our technology can safely extend oil drain intervals by two to three times or more, depending upon the individual requirements. Clearly, this cuts the demand for lube oil at least in half and is the responsible thing to do with regard to conserving our resources and reducing our dependency on foreign oil." ABOUT PURADYN FILTER TECHNOLOGIES INCORPORATED - ---------------------------------------------- Puradyn (OTCBB: PFTI) designs, manufactures and markets the PURADYN(R) Oil Filtration System, the most effective bypass oil filtration product on the market today. It continuously cleans lubricating oil and maintains oil viscosity to safely and significantly extend oil change intervals and engine life. Effective for internal combustion engines, transmissions and hydraulic applications, the Company's patented and proprietary system is a cost-effective and energy-conscious solution targeting an annual $15 billion potential industry. Puradyn equipment was selected as the manufacturer used by the US Department of Energy in a three-year evaluation to research and analyze the performance, benefits and cost analysis of bypass oil filtration technology. STATEMENTS IN THIS PRESS RELEASE WHICH ARE NOT HISTORICAL DATA ARE FORWARD-LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES OR OTHER FACTORS NOT UNDER THE COMPANY'S CONTROL, INCLUDING BUT NOT LIMITED TO THE POSSIBLE INABILITY TO RAISE CAPITAL FUNDS, LACK OF PROTECTION FROM INTELLECTUAL PROPERTY, VULNERABILITY BECAUSE OF MANUFACTURING A LIMITED NUMBER OF PRODUCTS, DEPENDENCE ON DISTRIBUTORS, ORDERS PREVIOUSLY STATED IN THIS PRESS RELEASE MAY NOT MATERIALIZE, AND THE POSSIBILITY THAT THE PRODUCTS DO NOT MEET CUSTOMERS' NEEDS, WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE OR OTHER EXPECTATIONS IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT LIMITED TO, THOSE DETAILED IN THE COMPANY'S PERIODIC FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION. CONTACT: Kathryn Morris, Director, Corporate Communications (T) 561 547 9499, x 226 investor-relations@puradyn.com / http://www.puradyn.com -----END PRIVACY-ENHANCED MESSAGE-----