GIG HARBOR, Wash. and FT. LAUDERDALE, Fla., Aug. 11, 2005 (PRIMEZONE) -- Amenni, Inc. ("Amenni"), merger partner of Nannaco, Inc. (OTCBB:NNNC) ("Nannaco"), announced today that it has entered the over-the-counter ("OTC") pain-killer marketplace. Amenni will begin trials of their innovative ibuprofen patch.
Amenni believes that this new product will be of great benefit for those patients who have difficulty in taking pain-killers orally. Amenni's market research has indicated the Ibuprofen patch will fill a significant niche in the $1 billion + OTC pain-killer market.
Nannaco previously announced July 21, 2005 it entered into a Definitive Merger Agreement with Amenni. Amenni, with offices in Ft. Lauderdale, and facilities located in London (United Kingdom), Dubai (United Arab Emirates) and Zurich (Switzerland), develops and manufactures joint-care nutraceutical products for dogs and horses.
Amenni has initially distributed these product lines through a distribution agreement with an internationally recognized pharmaceutical firm. Revenues in the first 12 months from this agreement exceeded $1 million, and the first product was launched in 10 countries. Amenni anticipates a roll-out to the U.S. marketplace, as well as 14-19 additional countries, within the next 12 months.
For 2004, Amenni's combined revenues exceeded $3 million. Amenni anticipates generating more than $6 million in 2005.
Amenni has also initiated the launch of their highly innovative Sports Patch into the U.S. OTC market. Its primary active ingredients have been developed in conjunction with its highly successful research into Veterinary Science.
The Sports Patch is targeting the fast-growing Sports Healthcare market and has shown significant benefits to aid the recovery from a Sports injury. Joint and ligament injuries happen to all athletes. The Amenni Sports Patch applied immediately after injury helps with quicker recovery times. Currently there are no direct competitors in the marketplace.
Amenni is developing additional products for distribution by this and other distribution partners. Furthermore, Amenni continues to develop nutraceutical products aimed at the human (as well as animal) marketplace.
NOTE: Information contained in this press release, other than historical information, should be considered forward-looking in nature and is subject to various risks or uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or expected. Among the key factors that may have a direct bearing on the operating results, performance or financial condition are the company's ability to achieve and manage growth; the company's ability to attract and retain qualified personnel; the company's ability to secure necessary financing; potential litigation by shareholders and/or former or current advisors against the company; the company's success in securing third-party commitments, production agreements and/or licensing contracts; the company's ability to comply with federal, state and local government regulations and/or unforeseen changes in federal or and government regulation; and the company's ability to develop new services; and other factors discussed in Nannaco's filings with the Securities and Exchange Commission.