FITT Highway Products, Inc. Announces Debt Mitigation in 2010 of nearly $1.9 Million
April 19 2011 - 12:49PM
Business Wire
FITT Highway Products, Inc. (OTCBB: FHWY) (the “Company”) has
mitigated nearly $1.9 million in debt during the calendar year
2010, including the settlement of two significant lawsuits and the
conversion of certain of its convertible promissory notes.
Potential investors are requiring the Company to first
compromise its substantial debt at approximately $0.10 on the
dollar before committing to investing in its operations. F.I.T.T
Energy Products Inc., the Company’s non-affiliated operating
partner, is in discussions with several significant parties to help
rollout the two-ounce energy shot named “F.I.T.T. Energy With
Resveratrol” to the retail market while leveraging joint marketing
and branding.
Resveratrol is a natural substance found in the skin of red
grapes and is thought to promote weight loss and slow the aging
process. The two key amino acids are believed to provide benefits
for muscle strength and provide cardiovascular vasodilation. For
further information about the benefits of Resveratrol, please see
the product studies on the National Institutes of Health website at
http://www.nih.gov/.
The two-ounce energy shot contains some exciting advantages:
- Doctor developed formula
- Incorporates L-Arginine, AKG Arginine
(Amino Acids), Caffeine and Resveratrol for energy
- Promoted by Warren Moon, NFL Hall of
Fame Quarterback
A 60-second television commercial for the product may be viewed
at www.throwafitt.com. F.I.T.T. Energy Products, Inc. expects to
begin marketing a new label design of “F.I.T.T. Energy With
Resveratrol” during the latter part of the second quarter of 2011.
The product is will also be endorsed by several high-profile
athletes and well-recognized doctors.
About FITT Highway Products, Inc.
FITT Highway Products, Inc. is a brand management Company which
is in the process of mitigating its debt in order to effectively
pursue its business plan. The Company has entered into an Operating
Agreement with F.I.T.T. Energy Products Inc. to perform a majority
of its operating services, including among other things, selling,
marketing, producing and distributing the “F.I.T.T. Energy Shot
With Resveratrol”. F.I.T.T. Energy Products Inc. will pay the
Company a royalty of $.05 for every energy shot sold.
This document contains “forward-looking statements” related to
future events. Forward-looking statements often address our
expected future business and financial performance, and often
contain words such as “expects,” “anticipates,” “intends,” plans,”
“believes,” “seeks,” or “will.” Forward-looking statements by their
nature address matters that are uncertain. Particular uncertainties
which could adversely or positively affect our future results
include: consumer tastes, availability of production, liquidity,
general economic conditions, and the activities of competitors.
These uncertainties may cause our actual future results to be
materially different than those expressed in our forward-looking
statements. We do not undertake to update our forward-looking
statements.