SAN DIEGO, Mar 16, 2004 (BUSINESS WIRE) -- Alpha Nutraceuticals Inc. (OTC: ANUI) today announced that it has agreed to acquire Tempo Laboratories Inc., a nutritional supplement manufacturer based in Chula Vista, Calif. The purchase price is 1,666,000 shares of Alpha Nutraceuticals stock. In addition, the company will purchase Tempo's equipment at current market value using a long term note.
In announcing the acquisition agreement, Alpha Nutraceuticals' President Louis Paulsen said, "This is a major step in our growth plans. Last year we had gross sales of $2,672,000, while Tempo's sales approached $2,000,000. So our combined sales should now be well over $4,000,000."
Dr. Kurt Donsbach, the formulator of Alpha Nutraceuticals' proprietary product line, said, "The impact on net profit should be substantial." Tempo is a 'private label' manufacturer, selling its products wholesale to retailers like Alpha Nutraceuticals. "In acquiring Tempo," Donsbach said, "we are adding the manufacturing side of the business to our already successful retail operation. So we are taking a major step toward becoming a vertically integrated health supplement company."
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that all forward-looking statements involve risks and uncertainties, as such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending; results may also differ materially from those anticipated based on governmental regulatory policies and actions. Further information with respect to important factors that should be considered is contained in the Company's Annual and Quarterly Reports on Forms 10-KSB and 10-QSB, as filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.