SAN DIEGO, Oct. 24, 2005 (PRIMEZONE) -- Who's Your Daddy (OTCBB:WYDY) announced today that it has entered into a distribution agreement with Think Tank Enterprises, Inc. to distribute Who's Your Daddy products to mass retailers, wholesale clubs, and convenience stores nationwide. Think Tank currently distributes to such clients as Wal-Mart, Sam's Club, and 7-ELEVEN.
Further information detailing the specific revenue that will be generated by Who's Your Daddy pursuant to this agreement will be forthcoming over the course of the following week.
This announcement follows the production of its "King of Energy" drink to National Chain giant, Circle K.
Think Tank Enterprises is a privately held company that specializes in sourcing and assisting its customers with product placement, analysis, forecasting industry trends, and inventory flow and control for the mass retail market.
The core business of Think Tank is the distribution of licensed goods with niche products in existing markets such as NASCAR. Think Tank has had great success and accomplishments in the apparel, electronic, and food/beverage sector.
Who's Your Daddy had a tremendous turnout at NASCAR two weeks ago when they launched and supported the "King of Energy" drink promotion with Circle K, in North Carolina, with over 210,000 people in attendance. Based upon the "King of Energy" drink's recent success, Who's Your Daddy has already started to increase production with the addition of its Sugar Free version, for reorder before the holidays.
Chad Smith, CEO of Think Tank, who is responsible for customer brand building, was quoted as saying, "We see lots of products in the marketplace, but seldom do we find a product line or individual product that, we believe, will have the mass market appeal of the Who's Your Daddy line. We will begin by introducing its "King of Energy" drink as the flagship product to our retail customers. I believe this is simply the best tasting energy drink on the market. By introducing the Who's Your Daddy line to our retail clients, not only will we be providing a great product line, but the expansion of the Who's Your Daddy brand will take place almost overnight."
Who's Your Daddy CEO, Edon Moyal, stated, "We could not be more pleased than with our new relationship with Think Tank. Distributing our Who's Your Daddy products to mass retail chains, wholesale clubs and convenience stores is the national exposure for the Who's Your Daddy brand that we have been striving for. Through the relationship with Think Tank, we believe that the Who's Your Daddy "King of Energy" drink will be a huge success for the Company in terms of brand awareness and mass retail exposure." Mr. Moyal continued, "We have tested the market for the Who's Your Daddy energy drink and the results have been fantastic. We have a product that has done better in taste tests than some of the current industry leaders. Further, we are able to provide a product at a price point that is not only competitive, but one that offers our retail customers an opportunity to provide a superior tasting product for less money to the end consumer, in addition to generating a higher profit margin for the retailer."
Mr. Moyal concluded, "We are moving ahead rapidly with the roll out of Who's Your Daddy's re-branded Pharb product "The Ultimate Hangover Relief", an FDA approved over-the-counter medicine, which had revenues last year in excess of $12 million. In addition to the 55,000 locations through which Pharb is currently being distributed, we intend to distribute the newly re-branded ultimate hangover relief medicine through the same retail chains as the energy drink. This will be done in conjunction with the Company's newly developed nationwide media plan. Sales of the Pharb product have been growing at the rate of approximately 20% a year for the past 3 years. We believe that the re-branding of Pharb to Who's Your Daddy, coupled with the exposure, through the national retailers that will be carrying the "King of Energy" drink, will allow us to surpass our greatest expectations."
The Company's projects that based upon the initial success of its core product, the company will surpass its projected revenues for 2006.
About Who's Your Daddy, Inc.
Who's Your Daddy, Inc. is a publicly traded licensing company that designs and licenses a variety of products centered around the trademark-protected brand, 'Who's Your Daddy.' Who's Your Daddy, Inc. holds licensing rights to the name Who's Your Daddy for more than 300 products in the U.S., Europe, Canada, Australia and Japan. The 'Who's Your Daddy' range of product offerings are designed to appeal to young men, women and sports fans who strive for "style with authority." Who's Your Daddy, Inc. is traded under the WYDY stock ticker.
This material includes forward-looking statements based on management's current reasonable business expectations. In this document, the words "can," "anticipates," and similar expressions identify certain forward-looking statements. These statements are made in reliance on the Private Securities Litigation Reform Act, Section 27A of the Securities Act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes. The material should be read in conjunction with the company's current annual and quarterly reports filed with the SEC, which contain discussions of currently known factors that could significantly impact the company's future.