LOS ANGELES, Dec. 1, 2006 (PRIME NEWSWIRE) -- Tank Sports (OTCBB:TNSP) held its first press conference yesterday Nov. 29, 2006 at Pacific Palm Conference Resort in City of Industry, California. During the conference, Ms. Jingjing Long, President of Tank Sports made four announcements.
-- The company is ready to release 5 new ATV models for 2007, which
will make a complete line of 7 ATV models ranging from 110cc to
400cc. In 2006, it only had 110cc and 150 cc model ATVs and sold
311 units making $246,853 in revenue. Thus, it sold fewer ATVs than
motorcycles and scooters in the year. However, Tank Sports has
strengthened the ATV product line by expanding R & D, which gave
way to 7 new styles. Also, it will release additional three models
for the first half of 2007. Because of that, it will further
expand TANK's share in the ATV market. The company's target is to
sell 6,000 units of ATVs and generate over $5,000,000 in revenue
by 2007.
-- New energy Motorcycles -- hybrid of 85% ethanol + 25 gasoline
motorcycle has passed the quality and road test. It is a milestone
for the company's clean energy technology strategy.
-- Tank Sports will continue to focus on the motorized power sports
products as core business. In the mean time, the company will
include mergers and acquisitions as part of the company's growth
strategies. This will strengthen the future growth of the company
business model.
-- Tank Sports' relationships with selected equity funds have been
steadily growing. The company will follow up the SEC regulations
and rules, such as 8-K filing, to disclose any material progress
once it is necessary. The growing relationships with institutional
investors will prepare the company with necessary funding and
certain assurance to implement its long term growth strategies.
Further information about Tank Sports, Inc. classification and similar matters is available by sending email to: IR@tank-sports.com. You can also go on line (www.tank-sports.com) for more information. Or you can go on www.sec.gov for the most recent company filing.
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 utilizes the so-called "China Concept" to participate 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).
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.