BREA, Calif., Oct. 14, 2003 (PRIMEZONE) -- PoGo! Products, Ltd. (OTCBB:PGOI), f/k/a Northwest Gold, Inc., (OTCBB:NWGD), a leader in portable digital audio (MP3) technology and cutting-edge personal electronic products for consumers and businesses, today announced that the Company completed a merger with PoGo! Products, Ltd., a Nevada corporation which was wholly owned by the Company, which merger was effectuated in order to reincorporate the Company in the state of Nevada, as well as to achieve a name change for the Company.
Additionally, a new CUSIP number 73044R105 has been assigned to its stock, as well as a new stock symbol of PGOI on the Over-the-Counter Bulletin Board.
"These changes give us broader exposure in the consumer marketplace and investment community," stated President Jim LaVoie. "We look forward to capitalizing on PoGo!'s already established name as an innovator of consumer electronics and will continue our tradition of developing and marketing new cutting-edge products which are being prepared for launch in the near future."
PoGo!'s latest innovative product is the recently launched Radio YourWayTM, the first portable digital AM/FM Radio Recorder. Radio YourWayTM enables users to set a timer or record real-time AM/FM radio programs and sports events as well as listen to their favorite shows at convenient times and locations of their choice. Radio YourWayTM can also be used as a voice-recorder or to listen to skip-free MP3 music.
PoGo! Products facilitated its entry to the public marketplace in July 2003 through a share exchange with Northwest Gold, a majority-owned subsidiary of U.S. Energy Corp. (NASDAQ: USEG), based in Riverton, Wyo.
PoGo! is currently experiencing a period of growth evidenced by its more than tripling sales, to $712,000 in the second quarter of 2003, while cutting losses around 40%. For the six-months ended June 30, 2003, revenues were $1,084,260, compared with $338,605 for the prior year period. PoGo! incurred a net loss of $253,161, compared with a net loss of $285,601 in the first six months of 2002.
PoGo! Products, Ltd. (www.pogoproducts.com) is the developer and marketer of innovative, industry-first personal technology products, led by industry veterans who are proven leaders in the consumer electronic market. Corporate headquarters for PoGo! Products and home base for sales and customer service is located in Brea, Calif., USA, with all product manufacturing done in Asia by engineering teams in both locations.
Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Additional information concerning forward-looking statements is contained under the heading of risk factors listed from time to time in the Company's filings with the Securities and Exchange Commission. We do not assume any obligation to update the forward-looking information.