IDAHO FALLS, Idaho, Dec. 15, 2003 (PRIMEZONE) -- Source Direct Holdings, Inc (OTCBB:SDRT) announced today that they have finished development of their liquid laundry product and plan to formally introduce this product to the marketplace in second quarter of 2004.
Source Direct plans to introduce liquid laundry as a private label option for several national retailers (a private label is where the national retailer that launches the product would buy the product from Source Direct but launch it under their own brand name). This strategy could provide Source Direct with substantial revenues while enabling the company to manage their cash flow by minimizing the substantial marketing dollars needed to support the brand.
Source Direct's President Deren Smith said the following: "We are excited about the potential of our liquid laundry product and trying to capture market share in this $4.8 billion industry. We feel that our liquid laundry is an incredible product that will compete and beat the other top players in the industry. This product also gives us a very complete product line."
Source Direct is a development stage state-of-art cleaning technology company that has two flagship products called Simply Wow(tm), an all-purpose cleaner that is environmentally friendly and extremely effective at cleaning any washable surface, and Stain Pen(tm), a unique, highly effective, portable spot remover. Both of these products are biodegradable and non-toxic. For more information and a free sample of Simply Wow(tm) visit us online at www.SimplyWow.com.
This press release contains forward-looking statements, which are made pursuant to the Safe Harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve risks and uncertainties that could cause actual results to be materially different. Factors include, but are not limited to, technological changes, competition, dependence on key personnel, and engagement of distributors for distribution of products and adequate funding to implement the business plan. A more complete listing of cautionary statements and risk factors is contained in the Company's report on Form 10-KSB for the year ended June 30, 2003 and on Form 10-QSB for the 3 month period ended September 30, 2003, filed with the Securities and Exchange Commission. The forward-looking statements should be considered in light of these risks and uncertainties. The Company disavows any obligation to update or correct any of its forward-looking statements.
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