Health & Fitness
Health and Fitness
Health and Fitness
Thu, December 31, 2009
Wed, December 30, 2009
Tue, December 29, 2009 San West Inc. Releases Significant Milestones for 2009 and 2010 Outlook
SAN DIEGO, CA--(Marketwire - December 29, 2009) - San West Inc. (
2009 Business Review
Operational Developments
-- Entered the public marketplace via reverse merger with Human Bio-Systems, Inc. in early June and began trading on the OTC Bulletin Board under the symbol HBSY, and changed corporate name and ticker change to San West Inc. and SNWT in late September. -- Launched a new and improved Buggy World website equipped with an e- commerce store to further expand our market reach and broaden our offering and purchasing options for customers. -- Became the exclusive TrophyKart dealership for San Diego County in an agreement expected to generate between $150,000 to $250,000 in annual sales and drastically boost and improve brand notoriety, particularly among the younger demographic. -- Partnered with CountyImports.com -- the 2nd largest online retailer of off-road vehicles and accessories -- in an agreement expected to add at least $3,200,000 in annual revenues to San West's top line and offset the seasonality of our sales levels. -- Subsequently launched an enhanced version of CountyImports.com and announced that sales generated through the website between 11/17/08 and 12/18/09 were approximately $150,000, higher than the corresponding period of 2008, a record year for CountyImports.com. -- Reported revenues for the third quarter of $217,099, an increase of 53.4% and gross profits or $146,336 , representing a gross profit margin of 26.8%. -- Announced that fourth quarter 2009 will by far be the greatest in corporate history. -- Established a promotional credit program -- "The RPM Card" -- to help offset the negative impact of the consumer credit meltdown by providing financing to customers with less than stellar credit ratings. -- Acquired non-exclusive sales & marketing rights for leading off-road sporting brands including Fox Racing, Joiner, and Thor.
Market-Related Developments
-- Share price has surged from less than one cent to a 52-week high of $1.71 on 10/12 ($0.35 split adjusted). -- Executed a 5 for 1 forward stock split in November of 2009 with the intent of strengthening shareholder value by facilitating increased trading among retail investors. -- Secured $10,000,000 in equity financing from an institutional investor during December which will enable San West to more aggressively pursue synergistic acquisitions. -- Announced a consulting agreement with Hayden IR, a leading North American investor relations firm with a proven track record of transforming micro- cap firms into NYSE and Nasdaq-traded companies.
2010 Outlook
2010 will be another transformational year for San West Inc. During 2009, San West launched a number of strategic initiatives that helped lay the foundation for a premier international off-road sports firm and positioned the company to generate annual revenues in the $6,000,000 to $8,000,000 next year. We strongly believe that our continued relentless pursuance of opportunities that hold the potential to drive growth -- both organically and via acquisition -- during 2010 will help boost annual revenues above initial expectations.
We recently obtained $10,000,000 in equity financing which provides an ideal complement to our extremely successful and assiduous expansion initiatives. This capital injection will allow San West to grow our business in ways that were quite recently unimaginable. Corporate/competitor buyouts, major real estate acquisitions, massive advertising investments, expensive product and service development, and sponsorship of major industry events are all now economically feasible to some extent.
We are building a one-stop off-road sports superstore, both online and at our first Buggy World brick & mortar location -- and will continue to pursue business ventures that will help broaden our global consumer reach. A few potential avenues for near-term expansion include but are not limited to fortifying existing online sales infrastructure, establishing additional retail locations in "hot" off-road markets, and expanding into new product markets such as personal watercraft (PWC) and motorcycles.
From a stock market perspective, our share price has matured significantly over the past 6 to 12 months. We have aligned our organization with some of the most highly esteemed financial services organizations in the world to help create shareholder value, provide maximum transparency into our operations, to articulate our unique value proposition and relay our growth story to the masses, and establish a line of communication to institutional investors.
At this point, we would like to thank our faithful shareholders for their interest in 2009 and reiterate our dedication to making 2010 another lucrative year for them and San West Inc. together. We wish everyone a very happy holiday season and a prosperous new year and also look forward to updating the public on our material developments as they arise.
About San West Inc.
San West designs, manufactures, sells and repairs off-road buggies, and additionally provides aftermarket performance products and accessories for off-road buggies. Products are sold via three divisions: at retail store locations, via the online store and through its growing dealer network. Buggy repair services are sold and fulfilled at the Santee, California retail location. For further information about San West Inc. visit [ www.CountyImports.com ], [ www.BuggyWorld.net ], [ www.CountyImportParts.com ] and [ www.SanWestInc.com ].
Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). SNWT cautions that the statements made in this press release constitute forward-looking statements and no guarantees of future performance and actual results or developments may differ materially from projections in forward-looking statements. Forward-looking statements are based on estimates and opinions of management at time the statements are made.
