SCOTTSDALE, Ariz., Feb. 10 /PRNewswire-FirstCall/ -- Palomar Enterprises
Inc. (OTC Bulletin Board: PALR) announces today it's entering into the
Nutraceutical Industry because of the potential growth in the nutritional
Palomar has developed and is prepared to market a unique nutrient
extraction system for higher quality at a lower cost. The technology makes it
possible to make pure extraction of nutrients and elements with out a waste
by-product or environmental issue. Additionally, working with other
manufacturers in licensing and product development of all natural products and
services to help and aid both humans and the environment.
Palomar intends to enhance revenues by its wholesale and retail
proprietary line of Nutraceutical products. In the first year of full
operation, the company anticipates realistic revenues in excess of 2 million
dollars and continuous steady growth.
The United States retail market for nutritional
supplements is highly fragmented and historically has grown rapidly,
generating $9.0 billion in 2001 calendar year retail sales. We believe that
this growth was due to a number of factors, including:
* Interest in healthier lifestyles, living longer and living well
* The publication of research findings supporting the positive health
effects of certain nutritional supplements
* The aging of the "Baby Boom" generation combined with the tendency of
consumers to purchase more nutritional supplements and natural foods as
Special Note Regarding Forward-Looking Statements
Forward-looking statements in this news release are made pursuant to the
safe harbor provisions of Section 21E of the Securities Exchange Act of 1934.
Investors are cautioned that statements in this news release that are not
strictly historical statements, including without limitation, management's
plans and objectives for future operations and management's assessment of
market factors, and statements regarding the strategy and plans of the company
and its strategic partners, constitute forward-looking statements.
These forward-looking statements are not guarantees of the company's
future performance and are subject to a number of risks and uncertainties that
could cause the company's actual results in the future materially to differ
from the forward-looking statements.