LOS ANGELES, Nov. 1, 2006 (PRIMEZONE) -- Tank Sports, Inc. (OTCBB:TNSP) today announced that the Company was assigned the stock trading symbol "TNSP" following the effectiveness of its Form SB-2 Registration Statement filed with the Securities and Exchange Commission. The Company's common stock is now quoted on the Over-the-Counter Bulletin Board.
As of August 10, 2006, Tank Sports had 8,125,700 shares of common stock outstanding. The offered shares for resale by selling stockholders are 1,446,500.
About Tank Sports, Inc.
Tank Sports is a leading company that develops, engineers, and markets high performance on-road motorcycles & scooters, off-road all-terrain vehicles (ATVs), dirt bikes and Go Karts through OEMs in China. It participates in the $31.5 billion annually (data: Motor Industry Council) motorcycle/ATV market.
Since it commenced, Tank Sports has already sold more than 22,000 units of motorcycles/ATVs under its proprietary brand name TANK(tm). The company achieved $7.53 million in revenue for the fiscal year ended Feb 28, 2006. From 2001 to 2005, the company grew by 16 times, or at the compounded average annual growth rate of 105%. The Company reported net earnings of $275,406 for the first two fiscal quarters that ended August 31, 2006 (unaudited).
Further information about Tank Sports, Inc., classification and similar matters is available by sending email to: IR@tank-sports.com
To find out more about Tank Sports, Inc. (OTCBB:TNSP), you may visit our website at http://www.tank-sports.com for more information. All of Tank Sport's reports can be found on the http://www.sec.gov website.
The Tank Sports, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=3000
Safe Harbor Statement
The foregoing news release includes numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this news release relating to business developments are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with a small business ventures including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on forward-looking statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.