LOS ANGELES, Jan. 4, 2007 (PRIME NEWSWIRE) -- CEO of Tank Sports, Inc. (OTCBB:TNSP), Ms. Jing Jing Long, and CEO of Redcat Motors, Mr. Darin Oreman today jointly send out a greeting message to both company dealers one day after Tank Sports made the announcement of merger with Redcat Motors. The message is as follows:
"Dear Tank and Redcat Dealers -- Redcat Motors has merged with Tank Sports. This merger brings numerous benefits to the dealers we serve because it combines the best of both organizations to create what we believe will be the strongest company in this market today with the best product lineup, technical service, and parts support.
"Tank has a strong line of motorcycles and scooters and a strong line of larger ATVs, as well as possessing strong manufacturing resources in China, which gives them a vested interest in the quality of the products they produce for their dealers. This Tank manufacturing capability will play an important role in the ongoing improvement of the products we sell to our dealers and the parts and technical support for these products. Redcat brings to the table a large and loyal dealer network and strong brand recognition in the market place. In addition to its strong line up of ATVs, Redcat uses a Tier 1 ERP system to support dealers through high quality parts and technical support.
"This merger will enhance the Redcat and Tank product lines and will provide our dealers with a complete lineup of ATVs, on-road cycles, off-road cycles and scooters. By bringing two very strong complementary companies together, the combined dealer base of more than 500 nationwide will have access to a comprehensive product line in addition to ongoing improvements in every aspect of our business. This will allow your dealerships to be more competitive with a broader product choices and lower costs.
"Both the Tank and Redcat visions are complementary and in line with one another in terms of growth. They emphasize on quality and the ongoing need to improve the benefits provided to the dealers. Ultimately this merger will result in a stronger company and stronger network of dealers nationwide. After this merger, the value of your dealership will improve. Over time, as the benefits from this merger begin to unfold, our dealers will reap the rewards that come as we grow together.
"On behalf of our respective management teams, we want to take this opportunity to thank you for your support and inform you of these very exciting opportunities on the horizon. We will be consistent with the operational policies that have been beneficial and efficient to all our dealers and customers. We look forward to work with you as we grow into what we believe will become the premier provider of China-made power-sports products in the country."
About Tank Sports, Inc.
Tank Sports is a leading company that develops, engineers, and markets high performance on-road motorcycles & scooters, off-road all-terrain vehicles (ATVs), dirt bikes and Go Karts through OEMs in China. It utilizes so-call "China Concept" to participates in the $31.5 billion annually (data: Motor Industry Council) motorcycle/ATV market.
The Tank Sports, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=3000
About Redcat Motors
Established in 2001, Redcat Motors is an importer and distributor of off-road power-sports products from China. The company has 5 regional warehouse locations and a dealership network of over 300 dealers. Important operational procedures are conducted online using a tier 1 ERP system, which includes ordering inventory from China, arranging ocean freights and shipments to U.S. contract warehouses. Redcat Dealers also place orders through the Company's website, and access availability of product and monitor inventory levels. Product offering includes ATV's & off-road motorcycles. Redcat has a revenue of $70,000 per month for parts, and in 2005 the company has a revenue of $19,000,000. With gross profit of $1.34 million, the company realized a net earning of approximately $643,000 in 2005.
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.