Boraxx Technologies Inc. Announces Reincorporation, Name Change to Quad X Sports.Com Inc., and Its Thrust Into the ``Extreme Sports Business''.HUNTINGTON BEACH Huntington Beach, city (1990 pop. 181,519), Orange co., S Calif., on the Pacific coast, across from Santa Catalina Island, in an oil-producing area; inc. 1909. It manufactures aerospace vehicles, aircraft parts, optical instruments, and heat transfer equipment. , Calif.--(BUSINESS WIRE)--March 15, 1999--Boraxx Technologies announced Friday, March 13, 1999, at a news conference the completion of its name change to Quad X Sports.Com Inc. and its reincorporation into a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. . It also announced a change in management control and the completion of a "2.7 for 1" forward split. Its new President Kevin Grace, announced in addition to the changes in Name, State of Incorporation and forward split, the direction Quad X Sports.Com Inc. will be taking in the future. He also stated a new trading symbol Trading symbol See: Ticker symbol will be in effect in a matter of days to reflect the company's new name. Quad X Sports.Com Inc. intends to open, acquire, unite, manage and integrate a network of retail stores that serve what is known as the "Action Sports Industry" or the "Extreme Sports extreme sports Sports events characterized by high speed or high risk. Such sports include aggressive inline skating, wakeboarding, street luge, skateboarding, and freestyle bicycle events (wherein tricks such as back flips are performed on a bicycle). Industry". Customers of these retail stores will have access to a wide range of clothing, sports equipment and accessories that are used in such sports as surfing, skate-boarding, in-line skating, moto-sports, biking and snow-boarding. The appeal of the products in these stores will be to an increasing "counter-culture" market that thrives on active participation in non-traditional sports. Grace went on to say that the primary target market will be young people in the 10-17 age group (Generation Y) and the young adult in the 18-28 range (Generation X). Many in Generation X and Y want to be identified by the distinctive looks of the various sports: surfers as surfers, skateboarders as skateboarders, etc. Much of this fashion is identified as hip-hop or punk with the look of baggy clothes, longers shorts, "cool logos", "sick" athletic shoes An athletic shoe is a generic name for a shoe designed for sporting and physical activities, and is different in style and build than a dress shoe. Originally known as sporting apparel, today they are known as casual footwear. , etc. Through these "extreme retail stores" the company will offer a wide variety of fashions and accessories which will be offered to those with these distinctive tastes. Grace stated that for those unfamiliar with these non-traditional sports that they might watch ESPN ESPN Entertainment and Sports Programming Network 2 which carries most of these sports on a regular basis. The company is currently in process of negotiating purchases with several parties that have multiple retail locations in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . It is the intent of the company once these retail operations have been opened and/or acquired that the company can benefit from common management, purchasing of goods and marketing efforts. In addition to the retail outlets retail outlet n → punto de venta retail outlet n → point m de vente retail outlet retail n → , the company intends to sell over the Internet through its Web site a wide variety of its sports related products. The company estimates that as high as 30 percent may come from Internet sales. This expected high response over the Internet is because the majority of the Generation X and Y buyers are computer literate computer literacy n. The ability to operate a computer and to understand the language used in working with a specific system or systems. computer literate adj. and are comfortable using the Internet to communicate and purchase products. With Internet sales reaching over 28 billion in 1997 and growing rapidly, it is the company's belief the Internet sales can be a major factor in its growth and success. |
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