Los Angeles, CA (PRWEB) September 3, 2004
CEO Eric Stevens and VP of Business Development Al Roganti met with a Securities Firm and Transfer Agent on August 27, 2004. Both men were well received by these companies as talks encompassed all aspects of the Initial Public Offering. Emerging from hours of meetings, the decision was made that Bumperbib Inc. was the most viable candidate for an Initial Public Offering. They have further plans to spin off additional subsidiaries of Lorachell International Group in the future.
Al Roganti, VP of Business Development stated, ÂThis is in complete alignment with our current goals. We look forward to taking Bumperbib Inc. to the next level, and we believe private placement alone will not fulfill our financial goals to distribute this product to large chain retailers and the marketing machine needed behind it. I was impressed by EricÂs vision for the conglomerate, and I am charged with making the strategic alliances to fulfill that vision by establishing value for our current and future shareholders.Â
Al Roganti continued to state, ÂI brought Greg Lister into the company based on his sales and marketing background. We need to have the tools to fulfill contracts he initiates with his alliances in the Automotive Aftermarket Parts Industry.Â
Eric Stevens CEO stated, ÂWe are looking forward to earning investor confidence through this product and others. Increasing value to our current and future shareholders secures our place in the Aftermarket Parts Industry and enabling us to grow our other subsidiaries, allowing us to roll out share dividends as our other companies are offered. We are also currently looking for an InvestorÂs Relations person to keep our investors informed and have their voice be heard.Â
Bumperbib Inc. was established in 2003 as a company dedicated to bringing their invention to the Automotive Aftermarket Parts Marketplace. Patent pending Invention, the Bumperbib is the product of efforts by co inventors, Eric Stevens and James Lupold to invent a product aimed at protecting the rear bumper and the ownersÂ clothes when loading/unloading their Automobile or SUV.
Admitted to the USPTO and Foreign patent Offices via legal counsel, The Bumperbib was awarded provisional patent and patent pending status based on research and filings.
The BumperBib was first manufactured in Van Nuys, Ca. by an outsourced company for purposes of Prototypes and initial entrance in to the public marketplace. The BumperBib product was well received by consumers and CEO Eric Stevens found alternative manufacturers in Mexico and Asia. Bumperbib Inc. has currently contracted a company in Asia to manufacture the Bumperbib in large quantities. The companyÂs output potential is 1,250,000 units per year. Bumperbib Inc. will be taking first delivery of the product in November 2004 with subsequent shipments every 30 days thereafter. It is for reason of cost savings Bumperbib Inc. has chosen to have this product manufactured overseas. Lorachell International Group, The Parent Company, plans to use this increase in profit margins to build its other 5 subsidiaries, while maintaining a positive ledger in Bumperbib Inc. financial standings.
Bumperbib Inc is still in negotiations with a manufacturer in Mexico as a second source of product. We are looking forward to completing a contract with the company this month.
Eric Stevens CEO stated, ÂIn this case, redundancy is a needed factor in our success. Based on The BumperBibÂs first exposure to the marketplace the consumer wants this product. We must provide a level of service to keep our customers coming back. We aim to fulfill our customersÂ needs by having an additional source of product 5 hours away from our warehouse, rather than 3 weeks away by boat. We have planned for the contingency of requiring additional product while not committing ourselves to having a large inventory on hand. The cost savings can be utilized to increase our market share and reach new customers."
We have requested membership with SEMA (Specialty Equipment Market Association), and entrance to the SEMA show in November, additionally our product will be at the SEMA show through our Alliances if time does not permit establishing our own booth.
We are also looking at placement at additional Auto show venues including The Los Angeles Auto Show in January 2005.
In addition, we are proactively distributing information to potential clients and securing advertising properties to advertise to the general public. Our media campaign will commence in November 2004 in periodicals and on cable television networks in an effort to promote Holiday sales.
Additional information will be released in a timely manner in accordance with SEC rules and regulations.
About Bumperbib Inc.
Bumperbib Inc is a wholly owned subsidiary of Lorachell International Group. The BumperBib product is a patented product designed and manufactured by Eric Stevens and Jim Lupold. The BumperBib protects you from dirt and grime when unloading packages our of the rear cargo area. In addition, the BumperBib protects your rear bumper from scratches and damage. Easily storable, washable, and with installation of the product requiring no tools, The BumperBib promises to be an easy addition to the car care market.
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