IMPERIAL BEACH, Calif., Sept. 11, 2006 (PRIMEZONE) -- The CEO of Nicodrops, Inc. (Pink Sheets:NCDP), developer of the drug-free, non-nicotine smoking alternative, herbal dietary supplement, today released an open letter to shareholders:
It has been a while since my last communication and I feel it is appropriate at this time to give each of you an update with regard to current business and future prospects.
The last year was a difficult one for Nicodrops due in part to the GlaxoSmithKline lawsuit, but due primarily to the expiration dating error made by our former contract manufacturer, Quigley Manufacturing. The stock price has suffered, and as the company's largest shareholder, I have suffered along with the rest of you shareholders. However, I want to assure you that we are working hard to overcome the damage caused to our current national retailers by the dating error and in addition, we are aggressively exploring a variety of revenue opportunities. I cannot go into great detail due to non-disclosure agreements, but wanted to be able to provide you with some of basic information.
That said, here is a brief look at everything we are working on at this time:
International Distribution Opportunities
South Korea -- We are awaiting final approval from the Korean equivalent of the FDA and established a relationship with a major retail distributor which could result in substantial long-term revenue and possible spin-off into other Pacific Rim countries.
Middle East -- Beta testing and retail sales is underway with a major drug retailer in the Middle East, which is fertile ground for Nicodrops. If successful, distribution will be expanded into all North African countries.
U.S. Retail Opportunities
We are working closely with a major warehouse retailer on nationwide distribution and are investigating a complete box redesign, which will have greater appeal to Nicodrops' target audience.
Talks are underway with another major national retailer with meetings slated for the middle part of this month.
Airports -- We are working closely with 2 of the nations largest airport distribution companies, and hope to have more information on this great opportunity very soon.
Online -- We are still receiving orders from our online retail drugstores, and expect to continue our great relationship with them well into the future.
We continue with limited distribution at Walgreens.
Demand Letter to Quigley -- We have not been able to make much progress with our "demand letter" to Quigley Manufacturing. However, we will continue to pursue this matter. Be assured that it will not distract us from our focus on future sales and working with our current and back-up contract manufacturers.
As part of our new shareholder communication guidelines, we will communicate with you on a quarterly basis to update you on current business, as well as any new developing opportunities. We are very serious about increasing the value of your company, and opening the communication lines to our shareholders is vital to our overall success.
I want thank you for your patience over the last year, and look forward to delivering very positive news to you in the coming weeks and months.
Nicodrops, Inc., Imperial Beach, Calif., developed a drug-free, non-nicotine product which helps reduce the stress associated with not smoking, using all natural herbs.(i) For more information go to http://www.nicodrops.com or call 1-866-844-5383.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. The words "believe," "expect," "anticipate," and "project," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. Such statements may include, but not be limited to, projections of revenues, income or loss, expenses, plans, and assumptions relating to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future results could differ materially from those described in forward-looking statements.
(i) These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure, or prevent any diseases.
Yours truly, Christopher Calpito, CEO