EL MONTE, Calif., Jan. 9, 2007 (PRIME NEWSWIRE) -- Wei Luo, vice president of Tank Sports (OTCBB:TNSP), and Darin Oreman, president and CEO of Redcat Motors, will be joining the Market News First news team for a live interview on Tuesday, Jan. 9, 2006, at 9:30 a.m. CST.
The live discussion will be focused on the company's recent announcement that it has signed a definitive agreement with Darin and Michelle Oreman, and Hexagon Financial LLC to acquire LowPrice.com Inc., an Arizona corporation d/b/a Redcat Motors, a power-sports equipment importer and distributor headquartered in Phoenix, Arizona.
Redcat's business mainly focuses on off-road power-sports equipment. It serves over 300 dealers nationwide by utilizing a ERP system which allows its dealers access the products, parts and services by placing orders online. With this acquisition, the companies believe that Tank will be able to strengthen the company's off-road vehicle by sharing Tank's manufacturing resources in China by providing more on-road product choices to over 300 dealers of Redcat.
Tank Sports Inc. engages in the marketing, sale, and distribution of recreational and transportation motorcycles, all-terrain vehicles, dirt bikes, scooters, and Go Karts in the United States and internationally.
In addition, it sells an assortment of replacement parts and accessories. Tank Sports markets its products through a network of approximately 250 dealers and distributors primarily in the United States, Mexico, Ecuador, Jamaica, and Finland. The company was incorporated in 2001 as Bi-Tank, Inc. and changed its name to Tank Sports Inc. in 2004.
Join Wei Luo and Darin Oreman to learn more about the goals of the company, as well as its position in the stock market.
About Tank Sports, Inc.
Tank Sports is a leading company that develops, engineers, and markets high performance on-road motorcycles and 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.
About Redcat Motors
Established in 2001, Redcat Motors is an importer and distributor of off-road power-sports products from China. The company has 5 regional warehouse locations and a dealership network of over 300 dealers. Important operational procedures are conducted online using a tier 1 ERP system, which includes ordering inventory from China, arranging ocean freights and shipments to U.S. contract warehouses. Redcat Dealers also place orders through the Company's website, and access availability of product and monitor inventory levels. Product offering includes ATV's & off-road motorcycles. Redcat has a revenue of $70,000 per month for parts, and in 2005 the company had a revenue of $19,000,000. With gross profit of $1.34 million, the company realized a net earning of approximately $643,000 in 2005.
About MN1.com
Market News First is an online, market news provider that brings investors current news on the market. Market News First is the only online, IPTV web site that brings real market news to investors and features live interaction with companies from the Bulletin Board to NYSE.
Through daily, live interviews, we bring you up to date on all the established companies and inform the investors of the newest opportunities within the market. Market News First offers one-on-one interviews with the presidents and CFOs of companies to deliver answers to the questions that investors may ask and provides them insight into the companies' present condition and future plans.
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