Marx Toys And Entertainment Receives A $1 Million Initial Investment
Business Editors
SEBRING, Ohio--(BUSINESS WIRE)--Aug. 20, 2003--Marx Toys And
Entertainment Corp. (OTCBB: MRXT), is pleased to announce it has
received $1,000,000.00 in financing from Kimberly Investment Corp.,
North Brunswick for the production, development and distribution of
its toy lines.
"The influx of funds allows Marx the freedom to stock a warehouse
with toys rather than waiting on future purchase orders prior to
manufacturing units," states Steve Wise, CEO.
The investment agreement is based on product sales and will not
result in any dilution of company stock.
Marx has set goals to sell a minimum of 1 million units before
year's end. The company feels confident in its ability to regain a
portion of the $26 billion dollar toy market based on its brand
recognition, key management, exciting toy line and reemerging while
retro/classic toys are back in demand.
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