SCOTTSDALE, Ariz., Aug. 24, 2006 (PRIMEZONE) -- Motion DNA Corporation (Pink Sheets:MTDX) today announced that it has entered into a definitive Letter of Understanding to acquire privately-owned Sports Concepts, Inc. also of Scottsdale, Arizona. A formal Letter of Intent is expected to be executed on Monday, August 28, 2006, with the merger to be completed with the next 30 days.
Sports Concepts owns the rights to produce entertainment products bearing the names and likenesses along with promotional collaboration of several sports superstars. The company has already negotiated agreements with major sports celebrities and expects to announce several new products in the coming months.
"We are looking to diversify our product line and create some products which can broaden our appeal to investors and in the consumer marketplace," said Zig Ziegler, Founder of Motion DNA Corporation. "Sports Concepts fits into our plan and we hope to take the company to another level."
"We are excited about joining the Motion DNA portfolio," said Michelle Thomas, Chief Executive Officer of Sports Concepts. "We will provide each other with support and create products which can benefit both companies."
Motion DNA and Sports Concepts expects to announce further details of the deal after the more definitive agreement is signed next week.
About Motion DNA Corporation
Based in Scottsdale, Arizona, Motion DNA has developed state-of-art products and services that incorporate advanced 3-D motion-capture technology, which provides diagnostic testing for individual athletes, medical professionals and sports organizations. These types of analyses are designed to identify physical limitations related to strength, mobility, coordination and biomechanics.
The Motion DNA Corporation logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2484
Forward-Looking Statements:
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.