American IR Signs Distribution and Licensing Intent for Smith & Wesson Brand.Business Editors LAS VEGAS--(BUSINESS WIRE)--May 11, 2001 American IR Technologies Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ATLI) today announced that it has signed a memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with International Licensing Corp., the exclusive worldwide licensor for Smith & Wesson Smith & Wesson U.S. gun manufacturer. The company has its roots in an 1852 partnership between Horace Smith (1808–93) and Daniel B. Wesson (1825–1906), who designed and marketed a lever-action, repeating magazine handgun that held a self-contained cartridge. security products and services, to distribute American IR products through the existing Smith & Wesson distribution channels and for American IR to have exclusive worldwide use of the Smith & Wesson brand name for the consumer security product category. The agreement offers the potential for the distribution of the complete American IR product line in the Smith & Wesson catalog catalog, descriptive list, on cards or in a book, of the contents of a library. Assurbanipal's library at Nineveh was cataloged on shelves of slate. The first known subject catalog was compiled by Callimachus at the Alexandrian Library in the 3d cent. B.C. , with an estimated circulation of 1.5 million, through the Smith & Wesson network of approximately 6,000 installers and alarm dealers; the product line may be made available and represented to approximately 65,000 gun and sporting goods Noun 1. sporting goods - sports equipment sold as a commodity commodity, trade good, good - articles of commerce sports equipment - equipment needed to participate in a particular sport dealers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and on the Smith & Wesson Web site (www.Smith-Wesson.com) and any other related sites, with Smith & Wesson approval. It is further agreed that the licensor shall have first right of refusal on new product/technologies deemed suitable for the Smith & Wesson brand, that a complete retail and industrial/commercial program in the safety and security category shall be implemented, and that the Smith & Wesson-branded products shall be supported with national advertising programs. This initial agreement is subject to further due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and negotiation of terms. Further announcements will be made. "International Licensing Corp. is looking forward to a long-term relationship with American IR," said Charles Finkelstein, president and chief executive officer of International Licensing Corp. "Our company's mission is to establish an all-encompassing banner in the security and insurance industries. Leveraging the 150-year-old Smith & Wesson brand and associating with quality products and services, along with cross-marketing opportunities, will provide an invaluable marketing resource." Ron Ryan, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American IR Technologies, stated: "To be associated with such a powerful, long-standing leader in safety and security products is a tremendous compliment for our young company. "The strength and recognition of the Smith & Wesson brand, combined with the innovative, leading-edge technologies of American IR, presents additional product development and revenue opportunities for both companies. We look forward to furthering our relationship with International Licensing Corp." About American IR Technologies: "Technology Putting You First" American IR Technologies is in the business of designing and developing proprietary products and technologies. Through its unique intellectual property development process, American IR develops technology and consumer products primarily for the "home, health and safety" and "quality of life and leisure" categories. The full catalog of products is marketed through major national retail chains and catalogs, joint-venture and license agreements, and private-label programs. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. and comments in this news release are made pursuant to safe-harbor provisions of the Securities Exchange Act of 1934. Such statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc , among other things, the prospects for the company, including the completion of any acquisition transaction or the achievement of future operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These risks may be further discussed in periodic reports and registration statements to be filed by the company from time to time with the Securities and Exchange Commission in the future. |
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