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Saf-T-Lok Receives Over $550,000 in Orders at Gun Trade Show
TEQUESTA, Fla.--(BUSINESS WIRE)--Jan. 30, 1998--President & CEO of Saf-T-Lok (NASDAQ:LOCK - news), John Gardner, announced Friday that the company received orders in excess of $550,000 at the ''Shot Show'' in Las Vegas.
The company has received deposits totaling $100,000 toward the order of Saf-T-Lok's ''Grip Lock'' which Gardner stated was a strong testament to Saf-T-Lok's future success. The orders were placed by United Safety Action Inc., a new national distributor of safety devices. ''This is a good reflection of Saf-T-Lok's presence at the Shot Show,'' Gardner added. ''It's also an indication that our future is upon us.''
Gardner noted that this order was placed entirely for the ''Grip Lock'' safety device and that the company expects their new magazine lock to have even greater appeal. ''It's just now entering the production phase and we're really in the infancy of a campaign to increase awareness.''
The CEO added that United Safety Action also expressed a ''strong interest'' in the recently patented magazine lock which is in the early stages of production but expected to soon be widely available.
''As a result of the Shot Show, we have had numerous discussions with industry executives that we feel will lead to future relationships,'' said Gardner. ''We're excited by this immediate success and the very real prospects before us.''
Saf-T-Lok's patented device effectively precludes a firearm from discharge by engaging the safety with a 3 or 4 number coding sequence that is touch activated, making it the only device that works on a loaded weapon that can be accessed in 2 or 3 seconds -- even in the dark. The device currently fits a wide variety of different firearms -- revolvers and 1911 semi-automatics. With the addition of the new magazine lock, that number will increase.
The statements in the press release which express belief, anticipation or expectations, as well as other statements which are not historical fact, are forward-looking statements. Consequently, actual results may vary materially from these beliefs, anticipations and expectations. Meaningful factors which could cause actual results to differ include, but are not limited to, uncertainty of future profitability, uncertainty of market acceptance, impact of competitive products, extent of government regulations, and the uncertainty regarding patents and proprietary rights, as well as other factors discussed in the company's filings with the Securities and Exchange Commission.
Contact:
Saf-T-Lok, Tequesta
Kurt Divich, Public Relations Director
888/632-4653 |
