Could it be that QTNT is about to make an announcement that they are ready to fill the orders they already have in hand?
Read this press release from December 3rd and see if you come to the same conclusion
Quick Tent Inc. Announces
Completion Of Production Molds Necessary To Begin
High-Volume Manufacturing
Company Expects To Receive Patented Two-Man, Ten-Second Tents By
End Of First Quarter
SALT LAKE CITY, Dec. 3 /PRNewswire/ -- Quick Tent Inc. (OTC Bulletin Board: ''QTNT''),
an emerging company, announced today that the production molds for its patented two-person
''quick tent'' have been completed, and will be shipped to the Company's manufacturing partner in
China this month.
''This is a very significant milestone for Quick Tent,'' said David L. Taylor, President and Chief
Executive Officer. ''We now are poised to jettison out of the development stage, and we should
soon be seeing significant sales of our very unique product. When the production molds are
delivered to our manufacturing partner this month, we will soon be able to begin filling firm
purchase orders that we already have in hand. Completion of the production molds is the final
major component we needed to enable us to mass-produce and thus commercialize our Quick
Tent.
''We expect the first production-run of tents to be in our warehouse by late first quarter,'' added
Taylor. ''As soon as the first production-run of two-person tents is complete, design and
manufacturing of our three-and four- person tents will then begin. We expect to receive the first
shipment of three and four-person tents by the end of April.''
In August, Quick Tent received an ''open'' Letter of Credit from Credit Capital Consultants.
Under the terms of the agreement, Credit Capital Consultants, based in Millbrae, Calif., will
provide immediate financing to Quick Tent for the purpose of fulfilling incoming purchase orders in
a timely fashion.
''Our goals are quite simple,'' explained Taylor. ''We want to sell 50,000 tents nationwide in
1999. From that point, we hope to expand our worldwide market share to four percent within the
next four years, ultimately capturing at least 10 percent of the market, or 1.5 million tents
worldwide per year. We also want to set new standards in the tent industry by producing tents
that will be rated the best in durability, reliability, convenience, ease-of-use, and marketability. Our
long-term plan is to be the leading tent manufacturer in the world. With the completion of our
molds, we are well on our way.''
The Company's initial product, ''Quick Tent™,'' is a patented two-person tent designed to be set
up in just ten seconds, as opposed to other, more- expensive tents that may require ten to twenty
minutes or more to assemble and set up. Additionally, ''Quick Tent™'' can be taken down,
folded and put away in only one minute. The Company believes that its light-weight, user-friendly
tent will compete successfully in its initial targeted segment: the 15 million ''small'' tents sold
annually in the United States.
Statements contained in this news release that state the Company's or management's intentions,
hopes, beliefs, expectations or predictions of the future are ''forward-looking'' statements. It is
important to note that the Company's actual results could differ materially from those projected in
such forward-looking statements. Additional information concerning factors that could cause
actual results to differ materially from those in the forward- looking statements will be contained
from time to time in the Company's SEC filings, including but not limited to the Company's report
on Form 10-K for the year ended December 31, 1998. Copies of this document may be obtained
when it is completed by contacting the Company or the SEC. |
