HealthSport, Inc. Enters Into Exclusive Reseller Agreement With T. Lynn Mitchell Companies, LLC
October 06 2008 - 9:18AM
PR Newswire (US)
WOODLAND HILLS, Calif., Oct. 6 /PRNewswire-FirstCall/ --
HealthSport, Inc. (OTC:HSPO) (BULLETIN BOARD: HSPO) announces the
Company has entered into an exclusive reseller agreement with T.
Lynn Mitchell Companies, LLC (TLMC) in Tulsa, Oklahoma to develop
and manufacture four initial products through their network
marketing business. It is anticipated that the four products will
launch in January 2009, and TLMC, with the execution of this
agreement, placed an initial order for 30,000 cassettes to be
delivered for consumer sampling by November 7, 2008. Two of the
four products have been formulated and tested with initial
manufacturing runs to begin within the next seven days. Pursuant to
an agreement with TLMC, the nature of the products will be
announced at a later date by TLMC. "Our interest in HealthSport
arises from the trend in the market for new, unique, high quality
consumable products with competitive pricing. HealthSport's unique
delivery system for nutraceuticals and supplements meets both the
needs and desires of an enormous worldwide market. Our partnership
will provide the platform to experience exponential sales growth
for both companies. We will begin revealing the details of our
strategic plan to utilize this technology for the betterment of our
customers in the coming months," stated Lynn Mitchell, TLMC
President. "This marks our second major agreement, along with
Unico, that furthers our business strategy of focusing on
developing new products and performing manufacturing using our
proprietary technology for the nutraceutical delivery on a thin
film strip. Based upon TLMC's projected product delivery dates,
along with the current customers projected product reorders, the
Company can become cash flow positive beginning in March 2009,"
stated Hank Durschlag, CEO, HealthSport, Inc. About T. Lynn
Mitchell Companies T. Lynn Mitchell Companies is a full-service
organization with a history of developing strategic business plans,
conducting the market research necessary to validate those plans,
and building financial models that attract investors, secure
financing and support steady growth. TLMCO is particularly
recognized for its leadership in consumer marketing as well as its
commitment to helping manufacturers and retailers understand their
markets better. About HealthSport, Inc. HealthSport, Inc.
(http://healthsportinc.com/) is a fully integrated developer,
manufacturer and marketer of unique and proprietary branded and
private label edible film strip nutritional supplements and
over-the-counter drugs. HealthSport's wholly-owned subsidiary,
Innozen, Inc. (http://www.innozen.com/), is the preeminent
formulator, developer and manufacturer of edible film strips that
deliver drug actives through buccal (between the cheek and gum)
absorption. Innozen's proprietary edible film strip delivery
technology is superior to any other competitive edible film strips
currently available on the market. Innozen has five patents pending
and has developed numerous trade secrets which it incorporates in
the development and manufacturing process of edible film strips.
Forward-Looking Statements in this news release are made pursuant
to the Safe Harbor Provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to
certain risks, and uncertainties and actual results could differ
from those discussed. This material is information only, and is not
an offer or solicitation to buy or sell the securities. DATASOURCE:
HealthSport, Inc. CONTACT: Mike Sclafani of HealthSport, Inc.,
+1-303-903-2090 Web site: http://healthsportinc.com/
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