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Marine Jet Technology Corp (fka mjet) RSS Feed

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Marine Jet Technology Corp. (OTCBB: MJET 0.07 x 0.08) issued an 8K announcing they entered into a Letter of Intent to acquire Antik Denim, LLC, a California limited liability company ("Antik"). Antik designs, develops, markets and distributes high fashion jeans and accessories with an Old West flair under the brand name "Antik Denim". Antik's products include jeans, jackets, belts, purses and t-shirts. Antik currently sells its products in the United States, Canada, Japan and the European Union directly to department stores and boutiques and through distribution arrangements in certain foreign jurisdictions. Antik was established in September 2004, is headquartered in Commerce, California, and maintains two showrooms in New York and Los Angeles. http://finance.yahoo.com/q?s=MJET.OB ************************************************************** ANTIK DENIM, LLC 5804 E. Slauson Avenue Los Angeles, CA 90040 D-U-N-S Number: 16-856-8868 This is a single location. Telephone: 323 278-6668 Manager: PAUL GUEZ, MEMBER-MGR Year started: 2004 Employs: 10 SIC: 7389 5136 5137 Line of business: Apparel design commercial & wholesale men's and women's sportwear ************************************************************** October 7, 2004 Blue Concepts’ Fresh Ideas A co-founder (Paul Guez) of the Sasson jeans brand is rolling out the Antik and Taverniti So Jeans lines for early spring and has acquired the worldwide master apparel license from Elvis Presley Enterprises Inc., tapping into the craze for vintage rocker T-shirts and merchandise. Guez saw Sasson rocket to success in the late Seventies, but lost control of the brand after a bankruptcy proceeding in the late Eighties. Shipping in November, jeans from Antik wholesale for $79 to $160. Overall, the brand is expected to fetch $10 million to $15 million in sales its first year, Guez said. The Elvis project offers the greatest potential, Guez said. It allows access to more than 40,000 images of the cultural icon, who died in 1977. Guez is projecting sales of $20 million to $30 million in its first year. “All of my designers want to contribute and do something with Elvis,” Guez said. He plans to launch two lines for fall 2005: One for the moderate market, targeting souvenir stores and mid-tier chains, with wholesale prices of roughly $20 to $30 — and another that embraces vintage looks with lots of denim and leather, wholesaling for beyond $50. ************************************************************ Some links (highlights from discussion) ************************************************************ http://www.thestreet.com/_yahoo/funds/jondmarkman/10214568.html http://www.keatinginvestments.com/downloads/MJET_Profile.pdf ************************************************************ info on reverse mergers: http://www.ipo-merge.com/reverse.html
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