IFTP news.1million in revenues per week, and .20 earnings for the year progections(BSNS WIRE) Infotopia Gains Exclusive Rights To Top Performing Torso Tiger;
Infotopia Gains Exclusive Rights To Top Performing Torso Tiger; Torso Tiger to
Provide Immediate Revenue for Infotopia
Business/Fitness Editors
BOSTON--(BUSINESS WIRE)--June 26, 2000--Infotopia Inc.
(OTCBB:IFTP) announced today that it has acquired exclusive rights to
market the Torso Tiger. The Torso Tiger has continued to produce
between $800,000 to $1,000,000 in gross sales revenue since February
18th, 2000. The Torso Tiger infomercial has been rated as one of the
top infomercials running during the past several months according to
Infomercial Monitoring, Inc.
Ernest Zavoral, Chief Operating Officer of Infotopia, stated "We
are very excited to be working with Torso Tiger. By keeping the
dynamics of the Torso Tiger team in place we are able to ensure a
solid stream of revenue." Under the terms of the agreement, Torso
Tiger's highly successful management team will continue to manage the
Torso Tiger campaign and all existing contracts and agreements will
remain intact. "Torso Tiger, Inc. will receive 10 million shares of
common stock in Infotopia. About one-third of the stock will carry a
one-year Rule 144 restriction and the remainder will carry
restrictions designed to protect our shareholders from sudden
dilution," Mr. Zavoral said. He added, "Giving equity in our company
is very fair for the validation and revenues that this agreement
brings to Infotopia. The success of Torso Tiger should continue into
the foreseeable future and the transition in terms of weekly revenue
should be seamless. Infotopia will begin accounting for revenue on its
books and records in about thirty days as the transition period is
completed and various points of the agreement are implemented."
Mark Levine, President of Torso Tiger Inc stated, "The Torso
Tiger's success is just beginning. In the fall we will launch the
Torso Tiger into retail, which will increase our ability to reach
consumers far beyond the infomercials. I believe the Torso Tiger will
have a life span for many years to come in retail and television. Our
management team looks forward to continuing the success of Torso Tiger
for Infotopia. We encourage the shareholders of IFTP to learn more
about the Torso Tiger by visiting our website at
torsotiger.com"
Ernest Zavoral, Chief Operating Officer of Infotopia, stated,
"Based on current performance of the Torso Tiger, Infotopia should be
able to maintain a consistent $ 800,000 to $ 1,000,000 in revenue per
week for the coming year. Our Board of Directors looked carefully at
the dilution required of our shareholders for the acquisition of the
Torso Tiger and all the legal work needed to complete the transaction.
With this product in place we feel that we can safely project earnings
of $0.205 per share for this fiscal year. This gives us the solid
operating base from which we will be able to launch our new product
lines. With this and other deals, we are basing our projections on
having 36 million shares outstanding at the end of this fiscal year.
The dilution, in fact, should increase our shareholders value by
giving us credibility in the eyes of brokers, analysts, and money
managers."
About Infotopia:
The Company's mission is to produce, market, and distribute an
expanding line of high-quality, innovative health, fitness and
consumer products. Infotopia seeks out products that deliver superior
value, outstanding quality, and competitive prices to best satisfy
customer demand. The Company markets its products to consumers through
a variety marketing channels, including infomercials, distributor
alliances, and Internet e-commerce. The management at Infotopia is
committed to increasing corporate revenues and profits.
This news release includes "forward-looking statements" that
include risk and uncertainties. The forward-looking statements in this
release are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially due to a variety of factors, including without limitation
the Company's ability to produce and market products and/or services
and other risks detailed from time to time in their Company's reports
filed with the Securities Exchange Commission.
--30--mp/bos*
CONTACT: STRATEGIC COMMUNICATIONS
Matthew Westfield, 775-327-6215
KEYWORD: MASSACHUSETTS
INDUSTRY KEYWORD: SPORTS MARKETING AGREEMENTS
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