VANCOUVER, British Columbia, Aug. 16, 2005 (PRIMEZONE) -- Maisonette International Enterprises Ltd. ("The Company") (Pink Sheets:MAEN) (http://www.maisonetteworld.com). This letter addresses the state-of-the-company as of August 2005.
Dear Shareholders,
I am pleased to report to you on this first anniversary of our Company that we have achieved every milestone of our one year plan. The company has successfully acquired a 25% ownership in three subsidiaries: Total Home Solutions, Inc. in the USA, Maisonette Home Products, Ltd. in Canada and Maisonette Online, plc. in the United Kingdom. With our subsidiaries in full operations, we are set to reap the benefits of revenue and profits in the coming years. In addition, we have acquired 500,000 shares or 5% of a profitable global credit card merchant processor and technology company, Spectre Technology Corporation and have already benefited from a capital gain from this operation.
Through our subsidiaries we are involved in operations in several regions, namely:
USA: Our U.S. online retail and lifestyle company, Total Home Solutions, Inc. through its online retail site www.totalhomestore.com has recorded increased revenues for the first six months of the year. THS is on track to recording revenues of approximately US$230,000 by December 2005, up from US$35,000 in 2004 and is planning to be cash flow positive by the end of 2006. THS has also signed an Agreement with Technipac LLC. a new and much larger logistics center in the USA. Technipak offers as well some very competitive rates for all DHL shipments to Europe and THS plans to make full use of this competitive advantage, offering affordable house-wares to the European continent in record time and low shipping costs. In addition, THS has licensed its ecommerce technology to several small businesses eager to enter the online retail field.
CANADA: THS and Canada Post BorderFree, have entered into an Agreement for the distribution of totalhomestore.com's products to the Canadian market as of August 2005, without burdening our Canadian customers with expensive customs processing fees. This generates an increased acceptance of the Canadian consumer vis-a-vis totalhomestore.com and totalhomestore.ca. The Company expects considerable synergies to this agreement, since the goods come from THS's US logistics center and do not require THS to open another logistics center in Canada. Our Canadian subsidiary, Maisonette Home Products, Ltd. is also in the process of signing a definitive Agreement for the export of panelized prefabricated homes to the United Kingdom through an exclusive Agency agreement with Winton Global, Ltd. of Prince George, Canada. We are expecting to export between 25 to 50 homes in 2006 and double that amount in the following years, once all UK building codes requirements are filled. I have met with the key buyer for our housing products and we have arranged a visit by the buyer and his team to Prince George to seal the deal definitively. The housing project will put MHP into positive cash flow from the first order onward.
UNITED KINGDOM: Maisonette Online, plc. Is set to open its online retail and lifestyle site at the latest in October 2005 but we are making every effort to open in September. The Company expects MO, plc. to be net positive cash flow within the first twelve months of operations. All logistics and suppliers concerns have been addressed and we are set to go as soon as the final version of the online sites www.mymaisonette.com and www.mymaisonette.co.uk are operational.
The Company's plan is to continue generating revenues in 2005 and 2006 and record a group profit for fiscal 2006 through operations and unrealized gains from acquisitions, such as Spectre Technology Corporation which is filing a registration statement to be included in the OTC:BB stock exchange by early 2006. Maisonette Online, plc. is in talks with several parties to start a listing process in the next 24 months for inclusion in the AIM stock exchange of the London Stock Exchange. Maisonette International has two million shares of Maisonette Online, plc.
The Company's focus now is to continue in the path it has been set on and show our shareholders and the investment community that Maisonette International presents a compelling value for long term investors. I plan to continue focusing on our earnings targets for the long term, as I feel this is the only sure way to increase our share value and I encourage Shareholders to share the long term view I hold for our company. I thank you for your continuing support.
Sincerely,
Alain Ghiai, Chairman
About Maisonette International Enterprises Ltd.
Maisonette International Enterprises Ltd. is a publicly held holding company incorporated in Nevada, USA. Its assets include several subsidiaries operating in the USA, Canada and the United Kingdom with interests in e-Business, online retailing and lifestyle content, and building materials for the general public and professionals.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors affecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking information.
-0-