ShotPak, Inc. Announces Update Following Shareholder Meeting
IRVINE, Calif. (Business Wire EON/PRWEB ) December 24, 2007 --
ShotPak, Inc. (Pink Sheets:SHTP) today announces an update following the
shareholders’ meeting and the overwhelming
approval for the Technology Transfer agreement with Beverage Pouch Group
of Sarasota, FL. The following is an update on the Company’s
activities for the next three months.
R. Charles Murray, CEO of BPG commented, "The vote of confidence from
the shareholders has allowed us to move very quickly into the Company
and tackle key elements allowing us to keep the momentum going.”
The production unit will start a second shift to meet rising demand. A
second high speed machine is under construction for the summer market
holiday period and this new capacity will also open the doors for
further expansion into some of the big national chains.
At the same time the Company is going to continue expanding the export
markets to UK, Central America, Australia, India, China and Korea and
potentially Italy and Turkey. These markets want US products and the
ShotPak StandUp patented pouch allows controlled drinking. In addition,
the heat seal feature of the patented pouch design gives added security
that the product is not counterfeit.
Mr. Murray continues the Company outlook by saying, “Looking
ahead, the Company anticipates that it will submit the required
information to Pink Sheets to remove the Skull & Crossbones
categorization in January. The Company also hopes to move to the OTCBB
by the third or fourth quarter of '08. Next is to fix the debt and
ensure that the distribution goes national. We will have warehouses in
California, Michigan and Florida.”
To facilitate these changes, the Company has taken a different turn with
a new Board of Directors. Joining the Company is Bill Marin as
President, Gerry Patterson as secretary, Erik Willens as Corporate
Counsel and The Haynie Co. will be providing the CPA and Financial
staffing support to the Company. ShotPak will also have a Management
Committee consisting of the Board, key distributors and shareholders.
Bill Marin, the new President of ShotPak Inc., commented, "With this
technology deal, we should explain that the runaway debt load
accumulated during the early years, was a heavy burden and was
preventing any growth in the Company. The BPG Technology agreement
provides us with 15% of Beverage Pouch Group, an annual dividend as well
as a royalty on each case sold. This helps us pay off the existing debt
so we can now concentrate on research and development of new products.
With the original founder having retired from the business, the new
management structure from BPG will allow us to easily meet the demands
of the global market place."
Information on ShotPak, Inc.:
ShotPak, Inc., an Irvine, California based company, since 2003, is a
leading distiller and innovator of cocktails and straight spirits in
patented soft portable single serving standup pouches. With over 50
years of combined experience and expertise in alcohol distilling,
distribution and field marketing, retail placement and promotion as well
as consumer trial and adoption, they prove to be a forerunner in the
single serve Ready to Drink (RTD) alcohol category. With the
successful launch of four premium vodka flavored drinks and four premium
distilled spirits in January 2007, ShotPak has instantaneously captured
national attention in the rapidly emerging $110 billion plus alcohol
beverage industry, with distilled spirits showing an 8.1% increase. They
are recognized for being visionaries with their award-winning spirits
and revolutionary packaging which gives consumers a cost effective way
to purchase spirits without the bulky bottle.
ShotPak products are packaged in single serving, lightweight,
break-resistant, recyclable plastic pouches with a built-in spout,
making it easy to pour anywhere. ShotPak products are ideal for camping,
boating, golfing, concerts, sporting events, or for anyone on-the-go.
Made with recyclable plastic instead of glass, ShotPak products
provide a safe alternative especially during summer activities. ShotPak,
Inc. is immersed in a national roll-out through strategic distribution
channels and is expected to be available in most major markets this year.
For more information about ShotPak, Inc. please visit us at: www.shotpakinc.com.
Information on Beverage Pouch Group:
Beverage Pouch Group, a Sarasota, Florida based company, since 1996, is
the leading provider of StandUp pouch machinery through its
parent Company PPi Technologies Global, in North America. BPG is
a prolific innovator of pouch designs and structures for life style
beverages, including Natural Flavor Waters, all types of cocktails and
straight spirits, wines and draft beers in patented soft portable single
serve and sustainable StandUp pouches. The Beverage Pouch Group is truly
global with plants in Germany, Korea and China. BPG’s
pouch machinery is the industry standard.
Beverage Pouch Group offers a full range of Lifestyle Beverages to the
consumer in sustainable StandUp pouches. The Beverage Pouch Group
machines and StandUp pouches are marketed through four divisions: ShotPaQ
for liquors; BevPaQ for natural flavor waters, teas, coffees and
energy drinks; VinoPaQ for wines; and BeerPaQ for draft
beers.
BevShot is BPG’s contract packing
division. A customer brings their proprietary recipe and BPG’s
BevShot division then utilizes their machinery and process to
fill that product into patented pouches. This arrangement saves a small
company precious capital at times when resources are needed to grow
their business by allowing them to meet the financial requirements to
begin production without the cost of purchasing their own equipment.
Safe Harbor: Except for the historical information contained
herein, the matters set forth in this press release, including the
description of the Company and its product offerings, are
forward-looking statements within the meaning of the "safe harbor"
provision of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to risks and uncertainties that
may cause actual results to differ materially, including the historical
volatility and low trading volume of our stock, the risk and
uncertainties inherent in the early stages of growth companies, the
Company's need to raise substantial additional capital to proceed with
its business, risks associated with competitors, and other risks
detailed from time to time in the company's most recent filings with the
Securities and Exchange Commission. These forward-looking statements
speak only as of the date hereof. The Company disclaims any intent or
obligation to update these forward-looking statements.
See the original story at: http://eon.businesswire.com/releases/shotpak/company/prweb591772.htm
Post Comment: Trackback URL: http://www.prweb.com/pingpr.php/U3VtbS1Mb3ZlLU1hZ24tRW1wdC1Mb3ZlLVplcm8=
Bookmark -
Del.icio.us |
Furl It |
Technorati |
Ask |
MyWeb |
Propeller |
Live Bookmarks |
Newsvine |
TailRank |
Reddit |
Slashdot |
Digg |
Stumbleupon |
Google Bookmarks |
Sphere |
Blink It |
Spurl
|