TAMPA, Fla., Jan. 9, 2006 (PRIMEZONE) -- Extreme Innovations, Inc. (Pink Sheets:EXTI) (www.extremeinnovationsinc.com) announced today it has signed a Letter of Intent with T-Rex, Inc. for the U.S. & Mexico Distribution Rights to America's fastest street legal performance vehicles on the market today, the T-Rex. The Letter of Intent gives Extreme Innovations, Inc. the rights to distribute the T-Rex through distribution centers and dealerships throughout North America.
Nazarith DeWoodi, CEO of Extreme Innovations, Inc. stated, "Securing these distribution rights throughout North America allows us to accelerate the pace in getting these high-performance vehicles into the public hands. Our first 'Extreme Toys' location is scheduled to open on January 16, 2006 in Tampa, FL and with these new distribution rights, we are now projecting that the number of T-Rexes sold in 2006 is certain to surpass all T-Rex sales from 2005."
The T-Rex is described by its manufacturer as a sleek, attractive, high-performance vehicle that will exceed any speed-seekers expectations. It is a crisp and responsive high performance vehicle that provides extreme adrenaline and bite. T-Rex's sharp and responsive performance brings the driver the feeling of a formula-one racing car which is both street legal and track worthy. Extreme Innovation's newest product can be viewed at (www.go-t-rex.com)
"Our first 'Extreme Toys' store is both the showcase for these vehicles and the launchpad for our full distributorship program. In the first quarter of 2006, we've slated to open dealerships in 15 new locations strategically placed across 8 states and by the end of 2006, we expect to have a total of 28 dealerships/distributorships in place with projected revenues meeting or exceeding $9 million," DeWoodi concluded.
In addition to the Florida dealerships opening up this month, Extreme Innovations, Inc. has slated the opening of dealerships in California, Texas, Nevada, Indiana, New Jersey, New York, and Ohio during the first quarter of 2006.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements'' within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements, be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.