LOS ANGELES, Jan. 26, 2004 (PRIMEZONE) -- Bluetorch Inc. (OTCBB:BTOR), announced today that it will no longer share the names of buyers or retail accounts that have bought product for future ship dates pertaining to any of its three brands (TSA Clothing(r), Airwalk(r) & Bluetorch(tm)) in future press releases.
Bruce MacGregor, President & CEO of Bluetorch Inc. stated, "It was, and will continue to be, our intention to communicate effectively with our shareholders as to what accounts have bought product and for what delivery periods. Unfortunately, we have had one retailer, Chaparral Motor Sports, cancel their order with us just as we were in the process of shipping. This was due to a series of harassing phone calls from people trying to ascertain whether our releases are accurate. Buyers and retailers have clearly stated to us that the constant probing inquiries are disruptive and in some cases down right offensive. Another retailer, Jack's Surfboards, has fortunately showed patience with this situation and has agreed to continue forward. I would publicly like to apologize to any of our retailers that have been harassed as a result of our sincere intentions to effectively communicate to our stakeholders."
Added MacGregor, "We will update our shareholders on a quarterly basis as to the previous quarter's revenue as well as the retailer order status for future quarter deliveries. We will post the names of Bluetorch apparel dealers once we know the product is in fact on the selling floor. I invite shareholders and other interested parties to visit www.bluetorchinc.net starting Monday, February 2nd, to see the list of Bluetorch apparel retailers. It is imperative that we maintain good working relationships with our retail partners. To that end, I certainly don't want the company to experience further order cancellations due to the actions of a few misguided individuals."
Regarding the ASR Trade Expo, MacGregor stated, "We received an enthusiastic response from the retailers and potential International distributors that viewed the Bluetorch apparel line. We have a lot of leads to follow-up on. I think in general, they were most impressed with not only the design aspect, but also the breadth of the young men's and junior's lines."
About Bluetorch Inc.
Bluetorch Inc. is an emerging extreme sports company with a well-defined growth strategy focused on licensing, marketing and sales of various products for the extreme sports enthusiast. The Company's management team is focused on increasing shareholder value while expanding its product line to address the needs of the extreme sports arena, one of the fastest-growing segments in both the sporting goods and apparel industries. Additionally, Bluetorch Inc. is aggressively seeking compatible acquisition and/or licensing opportunities in order to further expand its distribution channels, which in turn would contribute to additional growth in revenues and earnings. For more information or to stay updated on the Company's progress, visit: www.bluetorchinc.net
Safe Harbor:
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The risks and uncertainties that may affect the operations, performance development and results of the Company's business include but are not limited to fluctuations in financial results, availability and customer acceptance of our products and services, the impact of competitive products, services and pricing, general market trends and conditions, and other risks detailed in the Company's SEC reports.