WOODLAND HILLS, Calif., Oct. 6 /PRNewswire-FirstCall/ -- HealthSport, Inc. (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.
