New Years Letter From EssxSport Corp. President and CEO
SUN VALLEY, CA -- (INTERNET WIRE) -- 12/31/02 -- EssxSport Corp.
Nevada Corporation (OTC: ESXS), designer and manufacturer of athletic
sports equipment for children, students, and adults today announced
that it has issued a President's Letter to its Shareholders to update
existing EssxSport investors on the current status of the Company.
Dear Fellow Shareholders;
Iam pleased to provide a summary of your company's progress this past
2002 calendar year.
In a time when many businesses have seen steep declines in revenues due
to the current economic downturn, EssxSport Corp. (OTC: ESXS) has
managed to increase sales and improve margins. We have reached many
of our targets this past year. Our goal to become our own
manufacturing infrastructure came about with the consolidation of our
Texas operations into the California Manufacturing facility (leased
8,000 sq ft.). This one move greatly reduced our overhead and
expenses and has afforded us more profit margins on products we
manufacture ourselves.
We have also this past year succeeded in creating more product
acceptance and awareness that has increased our market potential.
Most recent Rule changes by the National Federation of High Schools
(NFHS) www.nfhs.org and the National Collegiate Athletic Association
(NCAA) www.NCAA.org , as well as product development have afforded
Essx the opportunity to increase sales. We will be entering the New
Year with one of our biggest backlogs ever of well over $621,000 in
school purchase orders. The Company will now be increasing its
payroll and moving to double shifts to accommodate the workload.
Along with these changes and growth we will be filing our most recent
amendments to the form 10SB submission to be approved for trading on
the OTCBB.
In the calendar year 2003, we expect to provide additional value to our
shareholders through the diversification of our product line;
aggressive International growth; continued top and bottom line
growth; lowering of costs; and to seek out potential merger
candidates.
We are hopeful that we will stay focused on our goals to build
revenues, margins, and value for our shareholders.
The Board of Directors and Management wish all the shareholders and
their families a happy and safe New Year. Thanks again for your
continued support.
For more information on EssxSport, please go to the website at
www.essxsport.com.
Contact investor relations for more information, 817-285-2886. Or write
to Bruce@essxsport.com
Safe Harbor Statement under the Private Securities Litigation Reform
Act of 1995: The statements contained herein that are not historical
are forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements, including,
but not limited to, certain delays beyond the Company's control with
respect to market acceptance of new technologies or products; delays
in testing and evaluation of products; and other risks detailed in
the Company's information package available upon request from the
Company.
Contact: Bruce Caldwell, EssxSport
Phone: 817-285-2886
Email: Bruce@essxsport.com |
