HYRF - purchase order from EYII based on LOI from Chinese outfit- how much value there?
Lots of potential pitfalls. Too many. All hype
Press Release Source: EYI Industries Inc
EYI Industries Enters Letter of Intent Worth an Estimated US$210 Million
Friday August 12, 9:31 am ET
BURNABY, British Columbia, Aug. 12, 2005 (PRIMEZONE) -- EYI Industries Inc. (``EYI'') (OTC BB:EYII.OB - News) (http://www.StopDrinkingPoison.com), a marketer of products that promote well-being and a healthy lifestyle, is pleased to announce that it has entered into a Letter of Intent (``LOI'') for the sale of an undisclosed number of Patented Code Blue(tm) filtration systems over a 2-year period with the Guangzhou CEIEC Enterprise (GROUP) CO. LTD. (``Guangzhou CEIEC''), a subsidiary of The China National Electronics Import & Export Corporation (``CEIEC'').
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The CEIEC, located in South China, is the largest exporter and importer of electronic products in China and was the first Chinese enterprise to establish sales and cooperative relations with foreign brand name enterprises such as Hitachi, Sharp, Mitsubishi, Panasonic, Siemens, Casio, Phillips, Hewlett-Packard, LG and Samsung. Currently, the CEIEC is under the direction of the Chinese government and has extensive business relations with nearly 100 countries and regions and imports/exports over US$1 Billion in products every year.
The Code Blue(tm) portable water filtration system removes Arsenic and other contaminates to a negligible level from drinking water. China's large rural population and poor infrastructure in those outlying regions have created a huge demand for the Code Blue(tm) system which will facilitate the removal of harmful toxins from water, making it safe for human consumption.
Under the terms of the agreement, Guangzhou CEIEC will acquire agency rights from EYI Industries to distribute the Code Blue(tm) filtration system throughout China, and will commit to the purchase of US$210 Million worth of product as per the following schedule:
Fiscal 2006 (US$42,000,000)
Q1 = $700,000
Q2 = $2,800,000
Q3 = $14,000,000
Q4 = $24,500,000
Fiscal 2007 (US$168,000,000)
Q1 = $31,500,000
Q2 = $38,500,000
Q3 = $45,500,000
Q4 = $52,500,000
EYI Industries Chief Operating Officer, Dori O'Neill stated, ``Gaining access to China, the fastest growing global economy and largest consumer market through a reputable partner such as Guangzhou CEIEC Enterprise Group, is a huge milestone for EYI Industries.'' Mr. O'Neill went on to say, ``An order of this magnitude will certainly generate a great deal of shareholder value and may be just the first in a number of orders from China as the Code Blue(tm) filtration system is a cost effective solution to a very serious issue affecting millions in the Chinese population.''
About EYI
EYI Industries Inc., through our subsidiary Essentially Yours Industries, Inc. (EYI), markets products that promote health and well-being. Recently, EYI launched a consumer product that removes Arsenic and other contaminates to a negligible level from drinking water. The portable water filtration product's name is Code Blue(TM) and is exclusively provided to EYI. In addition, EYI sells dietary supplements and personal care products. A large portion of our sales are from CALORAD(R), a liquid protein supplement that has brought weight loss benefits to our customers. More than six million bottles of CALORAD(R) have been sold since EYI was founded in 1995. Our newest product, PROSOTEINE, is experiencing similar success to CALORAD(R) and bringing our customers the benefits of a natural Energy drink.
EYI markets its products through an extensive network of Independent Business Associates. Our sales force is staffed by knowledgeable, experienced men and women and supported by our comprehensive training programs.
This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.
EYI Industries Inc. (OTC BB:EYII.OB - News)
Contact:
EYI Industries Inc.
Jennifer Trevitt
Investor Relations
(604) 759-5031
jennifer@eyi. |
