Techalt Inc's President Updates ShareholdersLast update: 9/16/2008 12:23:01 PMSEATTLE, Sep 16, 2008 (BUSINESS WIRE) -- Techalt, Inc. (Pink Sheets:TCLT) ("Techalt" or the "Company") is a holding company concentrating on the acquisition and development of early and mid-stage companies seeking to commercialize alternative technologies in a variety of business sectors, including health and wellness, alternative fuel and energy, communications, software and hardware applications, and environmental products technologies. Techalt recently fulfilled its obligations required to close on an aggregate of $1.9 Million U.S. Dollars in financing (the "Financing") from a private investment company, and intends apply the Financing to incubate three portfolio products or companies currently under its banner (the "Portfolio Companies") to a minimum of $10 million in annual sales and $1.5 million in EBITDA. Those Portfolio Companies are i) Stan's Rodeo Ointment ("SRO"), ii) Cascadia Industries Incorporated ("Cascadia") and iii) Gorlin, Inc's Rim-Ice. If Techalt achieves these results, management intends to manage each individual business as a wholly-owned subsidiary of the Company, while entertaining potential spin off or sale opportunities that would provide positive returns for Techalt shareholders. A summary of the three Portfolio Companies is detailed below: Stan's Rodeo Ointment During the first half of 2008, Techalt acquired the licensing rights to develop and market Stan's Rodeo Ointment ("SRO"). Developed in 1980, SRO accelerates the healing time associated with blisters, abrasions, incisions, lacerations and open wounds to the skin. SRO has thus far been available by prescription only. However, Techalt is currently pursuing FDA approval to sell SRO Over-the-Counter ("OTC"). Stanley Johnston, a former professional rodeo rider and current Head Trainer of the Los Angeles Dodgers with 23 years experience with the team, developed SRO and continues to manage product development and marketing. Major organizations worldwide have adopted SRO as part of their treatment regime, including: -- Major League Baseball ("MLB") teams use SRO to accelerate the healing of tough skin wounds and contusions. Currently there are 26 teams that are using SRO with players supporting the use of the product. These players include Derek Lowe, Chad Billingsley, Hong Chi Kuo, Trevor Hoffman, Eric Gagne and many others; -- SRO is currently in use in many other major athletic leagues, including the National Basketball Association, National Hockey League, and National Football League among others; -- Fighters in the Ultimate Fighting League and other Mixed Martial Arts organizations use SRO; -- SRO was dispensed for use by athletes at the 2008 Olympic Games in Beijing; -- U.S. Navy personal aboard the U.S.S. Ronald Reagan use SRO to accelerate the healing of abrasions incurred while performing shipboard duties. Techalt expects SRO to grow up to $10 million in prescription sales under new national exposure over the next 18 -- 24 months. Subject to FDA approval for SRO Over-The-Counter sales, management projects growth in excess of $150 million within the three years following FDA approval. Cascadia In August 2008, The Company executed a letter of intent to partner with Cascadia Industries Incorporated ("Cascadia") via a Techalt purchase of equity in Cascadia. Management expects to complete a definitive stock purchase agreement with Cascadia, later this month. Cascadia designs, manufactures and sells roofing and venting supplies, focusing on increasing its market participation in the Light Commercial/Residential ventilation space, particularly focusing on environmentally conscious, or "green" design. Cascadia's "Highpoint" products are designed to allow for more efficient ventilation of current "steep slope" roofing systems and to increase roof life over and above traditional ventilation products. Moving into the "Green" construction space, Cascadia is taking advantage of current consumer and construction trends with the introduction of new ventilation products, manufactured entirely out of recycled materials. The value-added proposition is that the recycled plastic materials are significantly less in weight than currently-used materials, thus reducing the cost of transportation substantially, as well as significantly reducing environmental impact. In addition to developing innovative products for the construction industry, Cascadia also focuses on reducing costs of transportation in the supply chain. Currently, there are four stages in the shipping and distribution process from manufacturing to end-user. Cascadia's model is designed to bypass two of these stages, thus reducing transportation costs. For the past 18 years, Cascadia has enjoyed success by continually providing innovative products to the marketplace, and intends to do so well into the future. Cascadia's 2007 sales were $2.5 million. With the infusion of the funds received from the stock purchase agreement, Cascadia aims to enhance manufacturing, marketing and distribution efforts both domestically and internationally. Rim-Ice In September 2008, Techalt signed a letter of intent ("LOI") with Gorlin, Inc. ("Gorlin") to complete the acquisition of Gorlin's Rim-Ice product no later than September 30th, 2008. Rim-Ice is a high-end brake dust repellant, currently offered through BMW, Volvo and Nissan dealerships throughout the southern United States, as well as in auto parts and convenience stores in the South. Techalt anticipates first-year sales in excess of $16 million with marketing dollars effectively applied. To date, Gorlin has experienced consistent reorders of the Rim-Ice product, and has completed sales without the benefit of any marketing or press. Anticipating the completion of the purchase of Rim-Ice, Techalt has begun developing a national marketing campaign to reach different sectors of the market through brokers, media, and direct distribution and is looking to take the company throughout the Southeast, with national distribution to follow. Highlights of this marking campaign include: -- Techalt introduced Rim-Ice at the Twelfth Annual 2008 BMW Homecoming for the BMW Z3 and Z4 roadsters in Greenville, SC. Many representatives from the BMW Greenville manufacturing plant offices were on hand at the BMW Homecoming Event, as well as representatives from both Coachworks and Wheel and Rim magazines. All parties expressed a high level of interest in Rim-Ice and took samples, indicating there is a strong need in the market for Rim-Ice. -- A senior representative of Coachworks, believes there is an opportunity to generate approximately $20 million dollars of annual revenue by selling Rim-Ice through the Coachworks distribution system. To that end, Coachworks purchased a case of the product and is expressed interest in offering Rim-Ice through its catalog as the newest and most effective way to keep car and motorcycle wheels clean and free of brake dust. -- Rim-Ice's website already generates consistent orders Rim-Ice has already achieved very positive feedback and sales from automotive dealerships (BMW / Nissan / Volvo) and certain retail and wholesale distributors such as Walgreens (FL) and NAPA Auto Parts (GA) during the pre-launch phase of marketing in the Southern United States. Rim-Ice has now completed the pre-launch phase, as management believes this positive feedback from industry insiders as an indication that the product is ready to be introduced to the national market. SOURCE: Techalt, Inc.
Otto Law Group Kara Robb, 206-262-9545Copyright Business Wire 2008
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