Cardio Infrared Announces Imminent Multiple Gym Sales Agreements
July 12 2011 - 8:45AM
Marketwired
Cardio Infrared Technologies, Inc. (PINKSHEETS: CDOI)
www.cardioinfraredtech.com, www.thebiofit.com, a leading Health and
Wellness technology and marketing company, announced today that
Cardio Infrared Technologies, Inc. is negotiating with two national
fitness centers that would provide an exclusive relationship with
each gym for a period of four years. The exclusive relationship
would be specifically for that gym's controlling market in the
United States.
Wayne Bailey, President and CEO of Cardio Infrared Technologies,
Inc., stated, "The company is negotiating with firms that want a
multiyear exclusive within their industry for the BioFit™. We were
approached by the Fitness Centers desiring to have the BioFit™ in
their facilities nationwide under an exclusive arrangement. The
company's position on this pending order is dependent on the unit
commitment per state that will justify an exclusive for that
market. The company would require an agreement calling for a
multimillion dollar order for each year the agreement is in
place."
The agreement would stabilize the orders at Cardio Infrared's
manufacturing facility and significantly improve profitability for
the company.
About Cardio Infrared Technologies, Inc.
Cardio Infrared Technologies, Inc. is a technology and marketing
company, which is focused on developing the revolutionary and
evolutionary process of combining exercise equipment with medical
benefits that go far beyond the normal benefits of standard
exercise equipment. Cardio Infrared Technologies, Inc. is committed
to continue to market this equipment to the exercise and medical
markets and to aggressively expand the market into every country
around the world. The technology has been featured on Good Morning
America and The View. Cardio Infrared Technologies, Inc. also has
an aggressive growth plan that includes mergers and acquisitions
and the development of innovative new equipment and programs within
the exercise and medical industries.
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.The
words or phrases "would be," "would allow," "intends to," "will
likely result," "are expected to," "will continue," "anticipate,"
"expect," "estimate," "project," "indicate," "could,"
"potentially," "should," "believe," "considers," or similar
expressions are intended to identify "forward-looking statements."
Actual results could differ materially from those projected in the
forward-looking statements as a result of a number of risks and
uncertainties. These include the company's historic lack of
profitability, end user customer acceptance and actual demand,
which may differ significantly from expectations, the need for the
company to manage its growth, the need to raise funds for
operations and other risks within the regulation of the industry.
Statements made herein are as of the date of this press release and
should not be relied upon as of any subsequent date. The Company's
past performance is not necessarily indicative of its future
performance. The Company does not undertake, and the Company
specifically disclaims any obligation, to update any
forward-looking statements to reflect occurrences, developments,
events or circumstances after the date of such statement.
Contact: Wayne Bailey Email Contact Company website
www.cardioinfraredtech.com, www.thebiofit.com
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