LARGO, Fla., May 9 /PRNewswire-FirstCall/ -- Innovative Companies, Inc. (Nasdaq: GORX) reported that it has finalized an agreement with General Nutrition Companies, Inc., (GNC), whereby the GNC retail stores will now carry Lean Protein Bites in its top 1,200 corporate- owned stores. The company announced that the initial shipment of Lean Protein Bites is currently in transit to GNC's three distribution centers across the country.
According to Nate Bernstein, Breakthrough Engineered Nutrition's Vice President of Sales, "GNC is a retail icon and the largest company of its kind within the wellness industry. I cannot overstate the importance of our partnership with GNC in helping us further our market presence and positive growth."
Lean Protein Bites is marketed by Breakthrough Engineered Nutrition, Inc. (a wholly owned subsidiary of Innovative Companies, Inc.). The product is a patented, high-protein, low-carb snack geared for health-conscious consumers and anyone following the low-glycemic and low-carbohydrate lifestyles. Lean Protein Bites is available in convenient, single-serving, 1 oz. packages.
"As the largest specialty retailer of nutritional products, GNC's goal is to bring to the market, new and innovative products based on consumer needs," said Chris Lockwood, GNC's Senior Brand Director for Diet. "With the popularity of low-carb, high-protein lifestyles, we're delighted to offer our consumers the Lean Protein Bites," he added.
About Innovative Companies, Inc.
Innovative Companies, Inc. manufactures, packages and distributes high- quality, private label dietary supplements, over-the-counter drugs, and health and beauty care products for companies worldwide. In addition, we develop and manufacture our own branded dietary supplements; health and beauty care products and long-term care nutritional products for distribution through various outlets. Innovative Companies' subsidiary, Breakthrough Engineered Nutrition, Inc., markets its high-protein, low-carbohydrate product line, Lean Protein. Through this and other product lines, the Company will continue to add convenience foods and drinks that are geared for health-conscious consumers and those following low-glycemic and low-carbohydrate lifestyles. For more about Innovative Companies, go to our website at http://www.onlineihp.com and http://www.leanprotein.com.
General Nutrition Companies, Inc. (GNC), based in Pittsburgh, PA, is the largest nationwide specialty retailer of vitamin, mineral and herbal supplements, sports nutrition as well as personal care and related products. GNC operates more than 5,300 retail outlets throughout the United States, including 1,360 domestic franchise locations, and 33 foreign markets including Canada and Mexico. GNC is a wholly owned subsidiary of Royal Numico N.V., a worldwide market leader in specialized nutrition that includes infant and clinical nutrition and nutritional supplements. Headquartered in Zoetermeer, the Netherlands, Royal Numico operates in over 100 countries and has research facilities in the Netherlands, Germany, the UK, China, Australia and in the US. Additional information can be found on www.numico.com and www.gnc.com.
SAFE HARBOR PROVISIONS
Certain oral statements made by management from time to time and certain statements contained in press releases and periodic reports issued by Innovative Companies, Inc. (the "Company"), as well as those contained herein, that are not historical facts are "forward-looking statements" within the meaning of Section 21E of the Securities and Exchange Act of 1934 and, because such statements involve risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements, including those in Management's Discussion and Analysis, are statements regarding the intent, belief or current expectations, estimates or projections of the Company, its Directors or its Officers about the Company and the industry in which it operates, and are based on assumptions made by management. Forward-looking statements include without limitation statements regarding: (a) the Company's growth and business expansion, including future acquisitions; (b) the Company's financing plans;(c) trends affecting the Company's financial condition or results of operations; (d) the Company's ability to continue to control costs and to meet its liquidity and other financing needs; (e) the declaration and payment of dividends; (f) the Company's use of proceeds from their initial public offering, and (g) the Company's ability to respond to changes in customer demand and regulations. Although the Company believes that its expectations are based on reasonable assumptions, it can give no assurance that the anticipated results will occur. When issued in this report, the words "expects," "anticipates," "intends," "plans," "believes," "seeks, "estimates," and similar expressions are generally intended to identify forward-looking statements.
Important factors that could cause the actual results to differ materially from those in the forward-looking statements include, among other items, (i) changes in the regulatory and general economic environment related to the health care and nutraceutical industry; (ii) conditions in the capital markets, including the interest rate environment and the availability of capital; (iii) changes in the competitive marketplace that could affect the Company's revenue and/or cost and expenses, such as increased competition, lack of qualified marketing, management or other personnel, and increased labor and inventory costs; (iv) changes in technology or customer requirements, which could render the Company's technologies noncompetitive or obsolete; (v) new product introductions, product sales mix and the geographic mix of sales and (vi) its customers' willingness to accept its Internet platform in the future. Further information relating to factors that could cause actual results to differ from those anticipated is included but not limited to information under the headings "Business," and "Management's Discussion and Analysis of Financial Conditions and Results of Operations" in this Form 10-KSB as of and for the year ended March 31, 2002. The Company disclaims any intention or obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise.
L.G. Zangani, LLC provides financial public relations service to the Company, As such L.G. Zangani, LLC and/or its officers, agents and employees, receives remuneration for public relations and or other services in the form of moneys, capital stock in the Company, warrants or options to purchase capital in the Company.