Newron Sport Provides Management Discussion on Company and Outlook Moving Forward
July 06 2010 - 9:30AM
Marketwired
Newron Sport (PINKSHEETS: NSPT) has been working very diligently on
unveiling its new products, fulfilling existing orders and pursuing
new orders. As it continues to grow, Newron has maintained focus on
ensuring a high level of customer and client service and providing
individuals who enjoy inline skating a new sense of pleasure with
the Axion and the Touron.
The company, moving forward, has engaged the services of a
private consulting firm to assist in advising Newron Sport NA in
order to maximize shareholder value. The company is attempting to
increase shareholder value without doing any reverse split. Newron
has engaged discussions with some of the large debt holders and is
attempting to "lock up" some of those free trading shares. If this
can be accomplished then those shares may be retired and the
outstanding shares will be diminished significantly.
The consulting firm has also suggested various financing options
that can be used to initiate a potential share "buy back" in the
open market. Newron Sport NA will also be in talks with the patent
holder to discuss how Newron Sport NA can get an increased equity
stake of the technology for its shareholders.
"We are working on better positioning the company and our
shareholders for the future. Newron is continuing to improve on its
already great technology and we are confident that we will soon be
recognized as a category leader in the market of inline skating. We
need to make sure we have a healthy company on both the corporate
and public side," stated Mr. Robert Ritondo, President of Newron
Sport.
About Newron Sport
Newron's patented tandem device is a unique product that focuses
on both recreational use and enhancing sports performance by
allowing the enjoyment of inline skating on hard and rough surfaces
without the vibrations and loss of balance because of surface
imperfections as the Newron skate system absorbs these
imperfections and provides the inline skate user the feel of a
smooth glide, stride and maneuverability of an ice skate, all while
offering the user a safer and more efficient braking system than
the conventional inline skates.
The Newron inline skates are intended both to help prevent
injury and to improve athletic performance via their confidence
enhancing attributes among inline skate sports participants. The
Newron inline skate seeks to foster the enjoyment of sports by
people of all ages.
Safe Harbor
Statements about the Company's future expectations and all other
statements in this press release other than historical facts, are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, Section 21E of the Securities Exchange
Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The Company intends that such
forward-looking statements be subject to the safe harbors created
thereby. The above information contains information relating to the
Company that is based on the beliefs of the Company and/or its
management as well as assumptions made by and information currently
available to the Company or its management. When used in this
document, the words "anticipate," "estimate," "expect," "intend,"
"plans," "projects," and similar expressions, as they relate to the
Company or its management, are intended to identify forward-looking
statements. Such statements reflect the current view of the Company
regarding future events and are subject to certain risks,
uncertainties and assumptions, including the risks and
uncertainties noted. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
to be incorrect, actual results may vary materially from those
described herein as anticipated, believed, estimated, expected,
intended or projected. In each instance, forward-looking
information should be considered in light of the accompanying
meaningful cautionary statements herein. Factors that could cause
results to differ include, but are not limited to, successful
performance of internal plans, the impact of competitive services
and pricing and general economic risks and uncertainties.
Contact: Newron Sport Investor Relations: Phone Number: (973)
351-3868 investor@newronsport.com
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