FARMINGTON HILLS, Mich., Aug. 10, 2010 (GLOBE NEWSWIRE) -- Eternal Image, Inc. (the "Company") (OTCBB:ETNL), a public company engaged in the design, manufacturing and marketing of officially licensed memorial products such as caskets, urns, monuments and vaults, today released the following Letter to Shareholders on its website:
Dear Shareholders:
Eternal Image is preparing for what will be our busiest fall season to date. In September we will be launching our first cremation urn for Star Trek. The design is brand-new and has never been shown to the public before. Details about this launch will be available shortly, and will instruct people how and when to view the urn on the date of the official launch. We have a very unique rollout planned.
Also in September, some prototypes of Eternal Image's product line for the Vatican Observatory will be on display at the Catholic Cemetery Conference and Expo in Omaha, Nebraska. This show is the premier venue for Catholic cemeterians nationwide, and the perfect opportunity for getting feedback on the product. Following the show, the feedback that we have garnered will be implemented into the final production designs.
The Vatican Observatory line is proving to be our most expansive ever. In addition to caskets, urns, and memorials, Frank Colapinto (President of our New World Gift Company division) is overseeing designs for liturgical candles, retail candles, and candles for the South American market, specifically a line for Brazilian Catholics. We also have a line of memorial prayer cards, thank you cards, and registry books that is nearing completion, and our distributor of those has told us the Vatican Observatory line could very likely dominate the memorial card and registry book market among U.S. Catholics.
Some of you may have seen the announcement that we recently sold our 2,000th baseball urn in July. That number is already approaching 2,200 and we anticipate expanding the line from the 13-teams currently available to all 30-teams later this year. Also, our infant and youth casket sales are exceeding expectations and are moving an average of 5-10 units monthly—respectable numbers for a product with less than a 2% share of the casket market and not quite one year of market exposure.
While too preliminary for this Letter, be assured Eternal Image is also diligently working on two other projects mentioned earlier this year: a non-equity/non-dilutive funding deal; and a new license to add to our portfolio. Details about these projects are forthcoming.
As always, thank you for your continued support.
Eternal Image Management Team
About Eternal Image
Eternal Image, incorporated in 2006, is headquartered in Farmington Hills, MI. The company is the first and only manufacturer and marketer of licensed brand image memorial products. Currently, the company offers urns and caskets that feature licensed images from Major League Baseball™, STAR TREK®, Precious Moments™, the Vatican Observatory Foundation®, and the Collegiate Licensing Company, as well as pet urns featuring the American Kennel Club™, and Cat Fanciers'™ Association. In 2010, Eternal Image formed a new division called the New World Gift Company. New World manages the design, manufacturing, and marketing of ancillary products such as liturgical candles, retail memorial candles, registry books, memorial prayer cards, and other gift items. For more information about Eternal Image or New World Gift Company, visit www.eternalimage.net, www.newworldgiftcompany.com, or call 1-888-6-CASKET.
SAFE HARBOR STATEMENT
Statements in this news release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1993 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may", "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential" or "continue" or similar terms or the negative of these terms.
Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, such factors, including risk factors, discussed in the Company's Registration Statement on Form SB-2, as amended on Form S-1, See www.sec.gov. Except as required by the Federal Securities law, the Company does not undertake any obligation to release publicly any revisions to any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this report.
The company has no obligation to update these forward-looking statements.