SAN DIEGO, Dec. 12, 2005 (PRIMEZONE) -- Who's Your Daddy, Inc. (OTCBB:WYDY) is pleased to release information that summarizes its activities over the past quarter.
On June 7, 2005 we announced that Who's Your Daddy intended to re-brand the PHARB product as "Who's Your Daddy - The Ultimate Hangover and Pain Relief Medicine," by PHARB.
Who's Your Daddy is able to announce that, with the launch of its sugar-free "King of Energy" drink, it has begun the re-branding of Pharb. It will now be introducing both Energy Drinks as well as the Pharb product to the 55,000 locations in which Pharb is currently being distributed. This will be done in conjunction with the Who's Your Daddy sponsorship arrangement with a NASCAR team, and its National Bus Tour marketing campaign. Initial orders will begin in January for delivery in the first quarter of 2006.
On October 12, 2005, Who's Your Daddy announced that Circle K intended to include in its original order both the regular and sugar-free version of the "King of Energy" drink. Since that release Who's Your Daddy has been going through the lengthy corporate and logistical approval process required for all vendors of Circle K. Who's Your Daddy is pleased to confirm that it has become an approved vendor of McLane Company, Inc. The culmination and success of this process ensures that all future orders and deliveries are properly and timely booked by Who's Your Daddy. Additional details will be released tomorrow.
On October 24, 2005, Who's Your Daddy announced that it entered into a distribution agreement with Think Tank Enterprises to represent Who's Your Daddy products to mass retailers, wholesale clubs, and convenience stores throughout the nation. We are pleased to announce that Who's Your Daddy has received its initial order under this contract. We are currently in final discussions with Harps Grocery Chain to carry the King of Energy drink in multiple locations throughout Arkansas. As a result of the promotion at the Razorbacks homecoming event previously announced, Who's Your Daddy is pleased to report that it outsold the leading 3 energy drinks combined in the week following the event. Think Tank negotiations are also continuing with its larger National chain customers, which are anticipated to result in deliveries of the "King of Energy Drink" in January, 2006.
On September 19, 2005 it was announced that Who's Your Daddy signed a Letter of Intent to enter into an agreement with DLR International Investments Inc., in which DLR would act as the exclusive Who's Your Daddy independent representative in at least 18 territories in the Middle East.
DLR international is cultivating business and relationships in the Middle East to ensure the success of Who's Your Daddy in both the Energy Drink and Licensing divisions. DLR's approach to launching the Energy Drink in the Middle Eastern countries is to take the time to align itself with the proper distribution channels. Upon completion of due diligence in the Middle East by prospective customers, which is anticipated to conclude in the first quarter of 2006, we anticipate that DLR will be presenting Who's Your Daddy with final contract points to be converted to a final agreement.
In Southern California, Who's Your Daddy's local distributor ordered 5,000 cases of the "King of Energy" drink and distributed it almost 500 stores. In the first week of its display on local shelves, we have been advised that the "King of Energy" drink outsold its competition by two to one.
Who's Your Daddy previously announced that it was contracting with a distributor in the Michigan area. Who's Your Daddy Inc. has subsequently decided to enter into an distribution contract with a larger local distributor. We are finalizing negotiations and expect to have a definitive agreement completed by the end of the year, with initial deliveries to commence in the first quarter, 2006.
In summary, WYD has produced almost 40,000 cases to date which are all committed for delivery by the end of February 2006.
Edon Moyal, CEO of Who's Your Daddy stated, "We would like to take this opportunity to thank all shareholders and investors who have shown confidence and loyalty over the past year. This year has been a year of incredible progress for the Company, complete with growing pains that accompany such growth. We believe that next year will show the results of all of the hard work and effort that everyone here at Who's Your Daddy has contributed. We have all worked hard to lay the foundation this year that we will build upon next year to make the Who's Your Daddy brand recognized internationally. For that, I am truly grateful.
Mr. Moyal continued: "Later this week, we will be announcing a contract from one of the largest distributors in Mexico, which provides for minimum orders exceeding $2,000,000 in 2006 of both "King of Energy" drinks."
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. and Europe and is expanding internationally. 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.