How can a stock like IFTP trade at .11 on .205
estimated earnings per share for the year?
That is hard to believe.A stock at .11.
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.
Infotopia Gains Exclusive Rights To Top Performing
Torso Tiger
Torso Tiger to Provide Immediate Revenue for Infotopia
BOSTON, Jun 26, 2000 (BUSINESS WIRE) -- Infotopia Inc. (OTCBB: IFTP chart, msgs)
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.
Contact:
STRATEGIC COMMUNICATIONS
Matthew Westfield, 775-327-6215 |
