SCOTTSDALE, Ariz., Sept. 20, 2006 (PRIMEZONE) -- After several months of negotiations, Motion DNA Corporation (Other OTC:MTDX) has completed the deal that is expected to increase in the market with the acquisition of Sports Concepts, Inc., a Scottsdale-based maker of sports related products, for $12 Million in cash and stock.
"This is a deal that will help the company diversify its revenue streams and capitalize on relationships of both companies," said Zig Ziegler, Founder of Motion DNA. "Sports Concepts has a history of developing quality products and generating substantial revenue in their market. This is a great move for Motion DNA and its shareholders creating a diversified business allows for more potential earnings in the company helping us reach our revenue target for 2006 with a large boost in the final quarter through anticipated product sales."
Sports Concepts has sold over $16 million in products since 1996. For the past few years, the company has been quietly developing many new products lines including working with the development team of Motion DNA to produce licensed training products for youth and professional sports. Sports Concepts, producers of the original Monster Slam a recreational backboard, has vastly diversified lines of products scheduled for release and exciting marketing plans in the last quarter of 2006 and into 2007.
"In our first run of the original Monster Slam, we completely sold out of product," said Michelle Thomas, CEO of Sports Concepts. "Monster Slam sold 800,000 units in the first two years. Those figures are remarkable for product in our industry. We expect a similar situation when people see what we have taken the time to create and begin the release of our new merchandise."
Motion DNA expects to be able to benefit from Sports Concepts relationships with professional and collegiate sports teams and retail outlets as the company plans to release retail versions of its products for the general consumer. In 1996, Sports Concepts, Inc. then based in Seattle, Washington, secured a Masters NBA license and distributed the original Monster Slam at NBA venues, FAO Schwartz and others.
Motion DNA will continue to develop products for analyzing sports and physical activity. Executives for Motion DNA continue to work on finalizing several bulk purchase orders for its running and functional movement analysis systems. The company has recently developed basketball related products, potentially benefiting from the Sports Concepts acquisition.
Effective immediately, Ms. Thomas will assume the role of Chief Executive Officer of the company handling all day-to-day operations of the products and services of the company.
"Ms. Thomas has over 20 years experience in business management, and her detailed approach to management will help the companies grow expeditiously," said Ziegler. "Shareholders can expect a steady ship under her guidance."
About Motion DNA Corporation
Based in Scottsdale, Arizona, Motion DNA has developed state-of-art products and services that incorporate advanced 3-D motion-capture technology, which provides diagnostic testing for individual athletes, medical professionals and sports organizations. These types of analyses are designed to identify physical limitations related to strength, mobility, coordination and biomechanics.
The Motion DNA Corporation logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2484
Forward-looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.