REDONDO BEACH, Calif., April 30, 2004 (PRIMEZONE) -- CorpHQ, Inc. (Pink Sheets:COHQ) today provided an update on its strategic operating plan which was initially disclosed on August 15, 2003.
The CorpHQ, Inc. business model includes direct acquisition of interests in private companies, as well as the creation of strategic partnerships or joint ventures with complementary businesses. The CorpHQ group of companies address vertical market segments in the Consumer Products, Consumer Services and Consumer Technology industries.
Following is an update on the progress of each of the portfolio companies. Detailed individual updates for each portfolio company will be released in the future on an on-going basis.
-- My Personal Salon Inc. -- CorpHQ owns a minority interest in and
is engaged by My Personal Salon as a business development
consultant. CorpHQ has also been actively providing management
and marketing assistance, pro-actively and self actualizing,
adding value. MPS itself licenses and markets products in
the beauty, apparel and lifestyle industries. MPS management
expects public markets entry during 2004.
-- Safeguard Technology International Inc. -- Through its Moore
Protection business unit, Safeguard Technology is among the
fastest growing residential security companies in Southern
California. Safeguard is also in the process of developing a
presence in the United Kingdom and Western Europe, having
already set down a UK footprint. CorpHQ is the largest
shareholder in Safeguard.
-- Circles of Life USA Inc. -- COL is a marketing organization
that sells and distributes its own full line of proprietary
of wellness products. During its second year of operations,
COL generated 100% revenue growth on $4 million in sales. In
its first 30 months of operation, the company grew its
distributor base from an initial 25 to over 6,000
representatives across the United States and Asia. CorpHQ owns
a minority interest in and is also actively in engaged and
involved with COL as business consultant.
-- Pressto Food and Beverage, Inc. -- CorpHQ is a joint venture
partner with Presto for licensing, marketing and sales.
Pressto owns the intellectual property for disposable thermo
self-heating beverage containers for soup, instant coffee,
espresso and hot chocolate; and self-cooling beverage
containers for iced beverages such as tea and coffee.
"Shake it Hot," and "Shake it Cold," are Pressto's beverage
brands. Pressto management expects US commercial market
entry with these products about mid 2004.
-- National Beverage Marketing Inc. recently acquired a 125,000
sq. ft. water bottling facility in Southern California and
has entered into a preliminary agreement with Pressto Food &
Beverage to market and produce the Shake-It Hot/Cold line of
beverages.
CorpHQ Inc. operates from offices in the Los Angeles area coastal community of Redondo Beach.
Steve Glazer, VP-IR said, "Fuller and more complete updates on these briefs will be posted on the CorpHQ website in the coming days to provide shareholders with a more complete picture. Investors with specific issues are, as always, most welcome to call or email anytime."
Any statements contained in this communication which are not historical facts, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties, many of which are not within the control of the company, which could cause actual results to differ materially from those set forth in or implied by such forward-looking statements.