AMHERST, N.Y., Dec. 12, 2007 (PRIME NEWSWIRE) -- HealthSport, Inc. (OTCBB:HSPO), a fully integrated developer, manufacturer and marketer of branded nutritional supplements in a one-of-a-kind edible film strip delivery system, announced today that Migami, Inc., an international company focused on health and wellness products, has placed a $1,000,000 purchase order for Enlyten(tm) SportStrips(tm) (http://www.enlytenstrips.com) and Enlyten(tm) PediaStrips(tm) (http://pediastrips.com) to be marketed and sold in Korea and Japan. The purchase order which is backed by a Bank Letter of Credit calls for the initial delivery of $250,000 in products to occur on or before December 21, 2007, and the remaining product to be delivered in the first quarter of 2008.
John Park, President and Chief Executive Officer of Migami, stated, "We have been working with HealthSport and its research and development division, InnoZen, Inc. for many years, and we are very excited about launching Enlyten's products in Asia. We believe that the advantages inherent in the delivery of over-the-counter drugs and nutritional supplements in edible film will be especially well received in the markets served by Migami and look forward to a long-term relationship with HealthSport." Migami intends to become a leader in creating and bringing to the marketplace new technologies in the areas of cosmeceuticals and OTC drugs to enhance a healthier lifestyle.
Based in California with operations in Korea and Japan, Migami focuses on developing health, wellness, beauty and anti-aging products. Enlyten's SportStrips and PediaStrips will be integrated into Migami's health and wellness strategy for Asia and intends to leverage HealthSport's expertise in delivery of nutritional supplements. In addition to its purchase and distribution of Enlyten's current products in Asia, Migami will utilize HealthSport's understanding of drug and nutritional supplement delivery, product formulation and branding to bring new and innovative products to the Pacific Rim region.
"We have received numerous inquiries from distributors around the world that are interested in marketing and distributing Enlyten's products overseas, and we believe that Migami will be an important partner and distributor of our product in the Asian marketplace. There is a great interest and need for new products and delivery systems in Asia, and this relationship with Migami will provide a great platform to enter these markets," said Matthew Burns, Chief Operating Office for HealthSport.
About HealthSport, Inc.
HealthSport (http://www.healthsportinc.com) is a fully integrated developer, manufacturer and marketer of unique and proprietary branded and private label edible film strip nutritional supplements and over-the-counter drugs. The Company owns three subsidiaries -- Enlyten, Inc., InnoZen, Inc. and Cooley Nutraceuticals, Inc. Enlyten (http://www.enlytenstrips.com) was created to market and distribute HealthSport's products. InnoZen (http://www.innozen.com) is the preeminent formulator, developer and manufacturer of edible film strips that deliver drug actives through buccal (between cheek and gun) absorption. InnoZen's proprietary edible film strip delivery technology is superior to any other competitive edible film strips currently available on the market. InnoZen has five patents pending and has developed numerous trade secrets which it incorporates in the development and manufacturing process of edible film strips.
Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.