DALLAS, Aug. 14, 2008 (PRIME NEWSWIRE) -- Direct Pet Health Holdings, Inc. (Pink Sheets:DPHG) Chairman & CEO Michael F. Scaccia today reported on the company's progress to its shareholders. The full text of his message follows:
Dear Fellow Shareholders:
I want to update you on the most recent developments at Direct Pet Health, and the very clear emerging direction in which our company is being positioned to build shareholder value over the next 12 months.
We believe the steps taken to date, always longer in happening than first anticipated, have better positioned us to not only launch our core pet insurance business, but also to benefit from the addition of related revenue-generating products and services.
It was tempting to accelerate our business plan without all the needed components in place. But had we done so, we believe we may have put our shareholders in jeopardy. Our trading price might have climbed on expectations, but then fallen steeply the moment operating results were less than projected.
The landscape of Wall Street is littered with the remains of too many companies that came to market too soon, and imploded not long after. Realizing that, our management determined a more focused approach was needed. As a result, we have reached a launch point that is now just a few weeks away. The Direct Pet Health that investors will see unfold will do so on what management believes to be a firm foundation.
Over the next several months, we anticipate a number of announcements related to how Direct Pet Health has positioned itself for a promising future. We believe they will demonstrate that the building blocks supporting our business plan are sound.
We intend to strengthen our management structure, and add additional members to our Board of Directors and to our Strategic Advisory Board. Moreover, we are moving ahead aggressively in taking steps to have our trading symbol quoted on the Over the Counter Bulletin Board, and intend to pursue listing on a national exchange when our operating results and share value merit such status.
We now have in place a specialized, reputable pet insurance underwriter for the services we will provide. More details about that will come shortly, as will the launching, within the next two weeks, of an entirely new Direct Pet Health website. Our site will contain comprehensive information on all the plans being made available at extremely reasonable rates to both potential individual and business consumers as well.
Moreover, we have strengthened our external resources by retaining specialist firms in accounting, law, and investor relations to work in partnership with us to achieve our stated goals.
We appreciate the opportunity to give you this progress report, and plan to do this on a regular basis, supplemented in addition by meaningful news announcements, research coverage, and the opportunity to speak with us immediately via email or phone 24/7.
Clearly, the opportunities are upon us, and we believe the dedication of our people to exploring them is without peer. On a regular basis, I plan to share with you on a more personal level just how we're doing.
Sincerely,
Michael F. Scaccia Chairman, President & CEO Direct Pet Health Holdings, Inc.
About Direct Pet Health Holdings, Inc.:
Direct Pet Health is positioning itself to become a leader in its industry as the ultimate 'One-Stop-Shop' for pet health care. The company looks to provide its members with health information, pet insurance, and pet care products created for a target market driven by a strong demand for pet health care products and services -- all transacted over the Internet. Additional information on the company is available at http://www.directpethealth.com .
This press release includes forward-looking statements as contemplated under the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to, lack of funding for planned activities, difficulties in product development and launch, difficulties arising from management of growth, market place acceptance of certain products and other risks. Direct Pet Health is under no obligation and does not assume any obligation to revise or update any forward looking statement in this press release in order to reflect events or circumstances that may arise in the future.