RENO, Nev., Feb. 9, 2005 (PRIMEZONE) -- Meg Athletic Corporation (Pink Sheets:MEGJ) is a branded apparel company that is focused on closing the gap between sports and casual, leisure wear. Meg Athletic Apparel has developed an apparel line that accentuates style and creativity, breeding an innate attraction to its fashion-centric clientele.
Over the last few months Meg Athletic Corporation has been moving forward with endorsement contracts, completing apparel lines, and most importantly working on sales and revenues through various distribution networks.
As can be seen, Meg Athletic Corporation has been able to attract some very talented athletes in the game of soccer. With the initial signing of Dwayne DeRosario of the MLS, followed by Kevin McKenna of the Scottish Premier League and the highlight signing of Paul Stalteri of Werder Bremen of Germany, Meg has gotten off to a great start and has been focused on carrying forward the momentum with acquiring sales and revenues. With the unique diversity of highly talented players that are offering their endorsement services to Meg Athletic Corporation, it allows for a great springboard into different markets and different retail chains.
Meg has been working diligently on procuring apparel manufacturing contracts and this persistency has paid off. Meg has opted to go with two factories that are well known for their production capabilities of high-end casual apparel. The favorability of these two production houses is their commitments to assisting Meg Athletic Corporation reach its goal of brand recognition by offering terms and dropping the quantity of initial minimums. The quality of the production is next to none and we anticipate this quality to be portrayed in the final product that will be accepted by the consumer at large.
Now that Meg has secured manufacturing commitments, the focus of the company becomes sales and revenues that will be attained through current verbal Purchase Orders that have been committed to Meg by high-end retail chains throughout the U.S. and Mexico, in particular. Meg is anticipating these purchase orders to be finalized within the next 4-6 weeks. Once the orders are officially received, the focus will shift back to maintaining customer satisfaction and customer service through timely deliveries and a high level of consumer relationship management.
The next 6-8 weeks will be valuable and influential in the direction of Meg Athletic Corporation. Anticipation of large purchase orders, tied into the conclusion of more endorsement contracts, should allow a successful start to the 2005 year for Meg Athletic Corporation.
Forward-Looking Statements
The management of the company, who take full responsibility for its content, prepared this press release. Statements in this news release concerning the company's business outlook or future economic performance, anticipated profitability, revenues, expenses, or other financial items; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements" as that term is defined under the Federal Securities Laws. Forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties and factors include, but are not limited to, future capital needs, changes and delays in product development plans and schedules, customer acceptance of new products, changes in pricing or other actions by competitors, and general economic conditions.