VANCOUVER, Wash., July 28, 2005 (PRIMEZONE) -- Automotive Specialty Concepts (Pink Sheets:AMVS) said today that it has a LOI pending to joint venture or acquire DexSports, LLC (http://www.dexsports.com) from Dexter Morrison.
"We have had a strong relationship with Mr. Morrison," said Paul H. Stringer, President of Automotive Specialty Concepts, "and look forward to supporting his programs to expand synergistic relationships between AMVS and DexSports."
DexSports historically has been focused on sales of light switch plates and other sports memorabilia. In the past DexSports had NBA, NFL and other licenses.
DexSports is announcing a series of fundraising programs, to reach young people and raise money at the same time, and is now producing customizable light switch plates for high school sport's teams, and offering a variety of apparel.
Mr. Morrison said, "We anticipate that our light switch plate will find its place as a billboard to spread positive messages to players, coaches, and parents alike. The program consists of a light switch cover with the respective team's logo, that will be sold at a premium to the student body or local communities.
"The THSCA Trade Show went very well. Over 300 schools coaches signed up for more information on the fundraising programs. We made more terrific contacts, including the DEA, SAMHSA - a drug testing organization, and booster clubs. The DEA stressed that they would like to get more involved with DexSports to raise the awareness of the harmful dangers of using steroids. They commented that this was an issue nobody was properly addressing at this time.
"We have plans to get Mel Renfro involved with the DEA, going out into the field and talking to parents and kids for school functions. We feel this will be another great way to prove that we believe in our key slogan "Education, Sports, and Community."
Complimentary AMVS product line
One of AMVS's main product lines, which are complimentary to DexSports, is customized wheel logos. For example, notice the Marine Corp Wheel Logo at http://www.automotivespecialtyconcepts.com/
About Automotive Specialty Concepts, Inc. (http://www.automotivespecialtyconcepts.com/)
Automotive Specialty Concepts, Inc. is a leading provider of marketing alternatives for the automobile industry specializing in sports memorabilia and collectable artwork for the car owners, especially customized logos for universities, and established sports leagues and teams. The company has patent protection for its proprietary processes.
This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism and the conflict with Iraq. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.