PNHL NEWS
lanet Nutrition and Extreme Fitness Sign Terms of Understanding
Planet Nutrition Holdings, Inc. (PINKSHEETS: PNHL) recently announced the terms of understanding between the companies. The proposed business consolidation will be based on shareholders' approval of Extreme Fitness.
All shareholders of Extreme Fitness will be able to receive one share of Planet Nutrition, Inc. for every ten shares of Extreme Fitness, Inc. Extreme Fitness will become a wholly owned subsidiary of Planet Nutrition Holdings, Inc. Planet Nutrition will not compete with the new entity in the fitness market; they will co-market their products in joint ventures.
About Extreme Fitness, Inc.
I M & M Exercise Equipment, wholly owned subsidiary of Extreme Fitness, Inc., founded in 1983, known at that time as Industrial Machine and Manufacturing, tapped into the emerging exercise equipment market. A family owned business based out of Penrose, Colorado working out of an existing 7,500 square foot building with office space, manufacturing resources, shipping and receiving capabilities and approximately 6 acres of yard space, Father Frank Huerta, with sons Tom and John Huerta, capitalized on their sophisticated machining and manufacturing skills to engineer what rapidly became established as the premier exercise equipment on the market. The trio self-engineered and designed hundreds of products and implemented manufacturing processes for all stages of development and production, effectively driving ideas all the way from the drawing board to the customer's gym. The company became well known for its superb craftsmanship and exceptional customer service. Word of mouth referrals became (and persist to this day) the main mode of advertising. High profile clients continue to demand their products and services such as the United States Olympic Training Centers, Colleges and Universities, Professional Sports Teams, Major Chain Health Clubs as well as Celebrities and Professional athletes and coaches. The trio brings more than 66 years of combined experience and over 3 decades of successful business in the fitness industry. This wealth of understanding of industry standards, product engineering, and market history, trends and pitfalls is of utmost value to their continued success and ability to innovate new products.
