CRUSH Innovative Sports Systems Inc. completes $1,400,000 financing.Innovative Sports Systems Inc. (NASDAQ/BB:PCIED) is pleased to announce the completion of a $1,400,000 financing. The funds from this financing will allow CRUSH to produce T-Bone(TM) snowboard bindings which Monark 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 has committed to purchase and distribute over the next three years, beginning this winter to pro-riders, specialty snowboard shops, resorts and rental shops A rental shop is a store where a consumer can hire reusable products for a certain period of time before returning them. Typically, a customer must sign up for an account with the shop and give billing information like a credit card number. . In addition, CRUSH will continue the development of prototypes for its in-line skate, backpack, and motorcycle accessory products. Richard Perkins Richard Perkins is the former Speaker of the Nevada Assembly. Born in Boulder City, Nevada he became a police officer, eventually rising to become the Chief of Police in Henderson, Nevada. , president of CRUSH commented, "We were extremely pleased with the overwhelming response to our offering. The rapid oversubscription Oversubscription The excess number of shares or bonds that investors want to buy but are not available due to high demand. confirmed to us that the financial community understands the opportunity that our proprietary fastening technology represents in the sporting goods industry." Monark Sporting Goods, a major distributor of snowboard products, is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Elan (Emulated LAN) A virtual LAN in the ATM world. See LANE and virtual LAN. Elan - ["Top-down Programming with Elan", C.H.A. Koster, Ellis Horwood 1987]. , the world's third largest manufacturer of snowboards. Monark owns GRINDrite, a manufacturer of snowboard tuning machines that are used by approximately 80% of the specialty snowboard tuning shops. CRUSH Innovative Sports Systems Inc. develops sports related products based on its proprietary "quick release" fastening system, for rapidly growing markets, including snowboarding and in-line skating. These products address the deficiencies of current products by providing superior levels of performance, comfort and convenience. CONTACT: CRUSH Innovative Sports Systems Inc. Richard Perkins, 714/816-0200 or Woodbridge & Associates 800/824-4011 or 714/251-3436 |
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