LOS ANGELES, Nov. 15, 2006 (PRIMEZONE) -- One day after Tank Sports (OTCBB:TNSP) announced that its Board of Directors had approved a 4-for-1 forward stock split of the Company's common shares, the Vice President of Tank Sports, Inc., Mr. Wei Luo, comments on the stock split. When asked the reason for the company's stock splitting, Mr. Luo said: "Our stock has gone from $0.75 per share to $2.80 per share at close of market on November 14, 2006. This was done within only two weeks, and more shares are demanded. It appears to us that a lot of investors do not want to sell their shares at this moment. The stock splitting might be a better solution." He added: "The company's business strategy of building up a 'worldwide brand name made in China,' or a so-called 'China-Concept' model, has been proven a success in the market. The stock split will serve the company three purposes: 1) to add more value to the existing shareholders; 2) to make the stock more appealing to micro chip investors; 3) to give its stock more liquidity."
For further information about Tank Sports, Inc., please email: IR@tank-sports.com. You can also go online to www.tank-sports.com for more information.
About the Company
Tank Sports is a leading company that develops, engineers, and markets high performance on-road motorcycles & scooters, off-road ATVs, dirt bikes and Go Karts through OEMs in China. It participates in the $31.5 billion annually (data: Motor Industry Council) motorcycle/ATV market.
Since it commenced, Tank Sports has already sold more than 22,000 units of motorcycles/ATVs under its proprietary brand name TANK(tm). The company achieved $7.53 million in revenue for the fiscal year ended Feb 28, 2006. From 2001 to 2005, the company grew by 16 times, or at the compounded average annual growth rate of 105%. The Company reported net earnings of $275,406 for the first two fiscal quarters that ended August 31, 2006 (unaudited).
The Tank Sports, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=3000
Safe Harbor Statement
The foregoing news release includes numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this news release relating to business developments are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with a small business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.