October 27, 2008 - 2:02 PM EDT
EROX 0.30 0.07
Today 5d 1m 3m 1y 5y 10y
Human Pheromone Sciences, Inc. - Shareholder Update
SAN JOSE, Calif., Oct. 27 /PRNewswire-FirstCall/ -- HPSI (OTC Bulletin Board: EROX) releases letter to its shareholders
Dear Shareholders,
In light of events that have shaken the investment community around the
world over the past several weeks, I want to take this opportunity to
update you as to what is happening in your Company at the present time.
Excluding technology advancements, an update of which will be provided
very shortly in another release, the objectives and strategies for the
Company for this year and 2009 are as follows:
-- The Company is continuing to work closely with our current licensees as
they undertake programs to introduce consumer products containing our
patented compounds.
During this year we have continued to be closely involved with the J&J
Personal Products Group as they continue product development efforts
under our License Agreement. This project is ongoing and viable.
In mid 2007, we entered into an agreement with Schwarzkopf and Henkel,
for the inclusion of our patented technology in several of their got2b
brand products sold in the United States. During this year, the
Agreement has been expanded geographically to include Henkel's European
businesses and an additional product line has been included in the
Agreement.
We continue, this year, to work with other U.S. and international
companies including Avon Products, who continue to utilize our
pheromone compounds. In addition, we continue to look
internationally, and continue to enter into agreements with companies
doing business in Mexico and Japan.
In addition, we are in discussions with several other companies in the
United States and overseas, in efforts to open new markets for our
current technology with local companies, with their own infrastructures
here in this country and in foreign markets.
Not only has our Company benefited financially from our agreements with
these world-class companies, our association with them has confirmed
the viability of our technology, an imperative for a small
technology-based business to generate interest of others in the longer
term.
-- While our historical business model has been validated by these
relationships, we are still dependent upon the internal timetable of
these licensees for the generation of revenues for our Company.
However, there are other viable and fast growing channels in which
consumer products are sold, including electronic media, and
direct-to-consumer companies, that may provide a more consistent flow
of revenues to our Company. During this year, your management has been
working to introduce our technology to several companies who are in
leaders in these fields. We hope to be able to provide more specifics
about these efforts shortly.
-- Technology - our heritage, our future; another focus of our Company.
During 2008, we have spent significant amounts of time, but not a lot
of money, in the development of new compounds. You will be hearing
more about the positive results of these efforts in the next two weeks.
-- Merger and Acquisition Opportunities. We feel strongly that our
current technology and new research and development initiatives can
continue to attract world-class partners. We have also undertaken a
program to seek mergers and/or other types of partnerships that can
enhance shareholder value - our ultimate goal.
Unlike many companies whose share price has dropped radically this year,
who have no historic operations, an un-tested business plan and tens of
millions of shares outstanding, our Company has existing relationships and
agreements with worldwide leaders in the consumer products industry, is in
discussions with other international companies for the use of our
technology, looking to expand our relationships to provide a more
consistent stream of revenues, and has a pipeline of additional compounds
that can offer patented differentiation. And, importantly, our cash
assets exceed our current market valuation, and we have no
interest-bearing debt.
Thank you for interest and support. Please do not hesitate to contact me
directly if you have any questions.
Sincerely,
William P. Horgan
Chairman and CEO
408-938-3030
SOURCE Human Pheromone Sciences, Inc.
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