Hybred International Issues Corporate Update
Hybred International, Inc. (Hybred Horseshoe or The Company) (OTC: HYII) today released a shareholder update on corporate activities, such as the release of its new web site (www.hybredhorseshoe.com) and the additions of three key industry experts to its Board of Advisors.
“Within the equestrian industry, unfortunate recent losses and injuries opened the door for a broader discussion on the need for a greater investment in preventative measure products needed to address the subject of hoof care and lameness,” said Gary Kouletas, Founder and President, Hybred International, Inc. “Due to the fact that company has received a lot of attention arising from to recent industry events, the company prepared the following corporate update for shareholders and members of the press and investment communities.” Hybred International, Inc. is not new to the hoof care field. The company was founded in 2005 and became a publicly traded company earlier in Q1 2008.
The Company believes it successfully created the next-generation therapeutic horseshoe and is pleased to make the following announcements.
Hybred International Inc Corporate Update: Corporate Web Site: The company recently released the initial version of its web site, www.hybredhorseshoe.com. The site currently provides essential information about the product and the company. Additional features and sections will be released later at a later time.
Board of Advisors: The company has named the first three industry experts to its Board of Advisors.
Ian McKinlay, the leading authority in hoof lameness and farrier to Kentucky Derby and Preakness Stakes winner Big Brown; Mike Wildenstein, inductee into the Farrier Hall of Fame and Cornell University Professor; and Jorge Velasquez, Hall of Fame jockey.
These industry professionals will represent the Hybred Horseshoe at hoof care summits, farrier conventions and dealer shows throughout the world.
About the Hybred Horseshoe: The Hybred Horseshoe was created to address the number one problem in the equine industry – hoof injuries which account for nearly 90% of all potentially serious and often detrimental injuries to horses employed in all sectors of the equestrian market.
The Hybred Horseshoe is comprised of a polyurethane molding which once attached to an aluminum horse shoe thus becomes a shock absorber and protects the horse’s hooves and joints from deterioration caused by running on hard surfaces such as concrete, asphalt and race tracks. In addition, its design features enable the farrier the use traditional shoeing methods.
Primary Marketing Partner: The Company has signed an agreement with Thoro’bred, the world’s largest manufacturer of horseshoes. Under the terms of the agreement, Thoro’bred will manufacture, market and distribute the Hybred Horseshoe and market the product through its well-established world-wide distribution network.
About the Equine Industry: The equine industry is approximately a $39 Billion industry according to a study published in 2005 by Deloitte Consulting LLP for the American Horse Council Foundation. Over 4.6 million people are engaged in the industry as horse owners, service providers, employees and volunteers; Tens of millions of other are spectators in equestrian events in one form or another.
The study also showed that the industry directly produces goods and services of $38.8 Billion, with a total impact of $101.5 Billion on the U.S. Gross Domestic Product.
About the Horse Shoe Market: In the US alone, there are approximately 9 million horses that requiring shoeing each month. Considering that a shoeing is four horseshoes per horse each month for 9 million horses, the total horseshoe market in the United States is estimated at $432 million shoes per annum.
Based on the foregoing, the horse shoe industry, exclusive of any labor and tooling, is approximately $3.2 Billion a year.
There are more than 52 million horses outside the United States, thus representing a potential market opportunity of an additional $18.7 Billion.
Management Team: Gary Kouletas, Founder and President Mr. Kouletas has been engaged in entrepreneurial activities for more than ten years. After attending William Paterson University and Montclair University, he successfully founded and operated two real estate development corporations. Following his real estate development career, Mr. Kouletas joined International Surfacing, Inc., a research and development company where he developed the “Stealthshoe”, the forerunner to the Hybred Horseshoe. Mr. Kouletas left International Surfacing in 2005, to organize Hybred International, Inc. and has since devoted all of his time and effort in developing the Hybred Horseshoe, which was successfully completed in 2006. Mr. Kouletas serves as the President and Chairman of the Board of Directors of the Company, and has personally funded all of the Company’s expenses throughout its existence.
Martin Honig, Legal Counsel and Secretary Mr. Honig was a partner in the New York City law firm of Eisenberg Honig Fogler Greenawalt Davis & Ogilvie and their predecessors from 1969 until 1995. His concentrations were in the field of corporate finance and syndications. Presently, he represents a select group of clients and also acts as a corporate consultant. Mr. Honig has served as a director and advisor to numerous corporations throughout his career. Presently Mr. Honig serves on the Boards of Directors of LiveWire Media, Inc. and G3 Resources, Inc. Mr. Honig is a graduate of Rider University (Bachelor of Arts -English-1963) and Boston University School of Law (Juris Doctor 1966). He served as member of the Rider University Board of Trustees from 1992 through 1998. He acts as Company counsel and Secretary. Mr. Honig has assisted Mr. Kouletas in the formulation of the Company's business model.
Paul Stitzer, Board of Directors Mr. Stitzer spent the majority of his career in the electronics industry. Mr. Stitzer initially acquired A & M Instrument, Inc. from Loral Corporation. As the chief executive officer and chairman of the Board of Directors, he built A & M into a leading supplier to the U.S. Government of analog meters for the military. A & M was acquired by Hawker Sidley, a British conglomerate, in 1986. Mr. Stitzer thereafter became an officer and director of Voltampere Corporation., a cutting edge power supply company, which was sold to Dynarad Corporation in 1991. Mr. Stitzer continues to consult with various companies in the area of corporate finance.
Safe Harbor Statement Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.
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