DALLAS, TX -- (Marketwire) -- 10/03/12 -- SkinzWraps, Inc. (PINKSHEETS: SKZW), a founding father and recognized vanguard of the vehicle wrap industry, issues its Q3 News Update:
Under the direction of the CEO, a program is underway to retire to the company's treasury: up to 10 million shares of SkinzWraps stock. SkinzWraps is confident that this program will be 100% completed before middle of Q4.
SkinzWraps has been closely studying the massive, self-inflicted, software-driven trading losses of Knight Capital (TWAP algorithm/$440 million/August 1st/Facebook), Knight's subsequent life-line restructuring was followed by heavy regulatory scrutiny. SkinzWraps concludes that this entire chain of events may be very positive for SkinzWraps, its shareholders, and other pink sheet companies who have, for years, seen Knight Capital use their signature algorithm-based rapid-fire type software to control both sides of the trade.
SkinzWraps will begin in Q4 to upgrade its status with the OTC Markets Group. The upgrade process may carry into Q1 2013. Its decision to begin this process is a combination of several factors, including the credentials of its new CFO and Controller, mixed with chain of events that bested Knight Capital.
SkinzWraps confirms that it has launched an Ad Agency division. This new division will have a multifaceted role, including: leveraging the extensive resources of SkinzWraps (many of which until now have operated behind the scenes); fostering an expanded relationship with existing SkinzWraps customers that are seeing tremendous growth as a result of the vehicle wrap programs created by SkinzWraps; collaborating as peers with top agencies in the United States as a sole source of bidding on large nationwide projects for Fortune 1000, 500 & 100 brands; rolling out cutting edge marketing/branding solution that has not yet been seen by the Ad Agency community because they represent a fusion of exclusive SkinzWraps experiences; and lastly, the Ad Agency will always dedicate a % of its time and resources to grassroot non-profits in the hopes that it can help to "democratize" awareness campaigns currently dominated by large well known non-profits.
SkinzWraps confirms that it is opting out of attending SEMA 2012 so that it focuses its efforts and resources towards supporting its 30+ clients' participation in the inaugural Circuit of The Americas races in early November 2012. The 2012 race season marks the 3rd consecutive year that SkinzWraps has been the official graphics provider for the Ferrari Challenge. The reputation of SkinzWraps within Ferrari Challenge is known for award-winning design, clutch deliveries on hard deadlines, best-in-class workmanship, and a hands-on management approach that has allowed SkinzWraps to broaden its offerings within the Ferrari world to include the Ferrari 458 GT3 race program and the Ferrari Club of America's 50th Anniversary Celebration. It has also allowed SkinzWraps to work an elite Porsche team (racing in IMSA GT3 Cup), and an elite Le Mans Prototype team. This collective body of work in 2012 should allow for continued broadening of our place in the elite racing market for 2013.
SkinzWraps confirms that it has finalized a refined and focused strategy for working within the fast pace reality television industry and the evolving food truck trend. At present, SkinzWraps will not detail this strategy, but based on the work acquired thus far, SkinzWraps is confident in its approach.
SkinzWraps announces that it has developed a national "Limited Edition" wrap campaign for the Fiat 500, and has successfully been market testing the program. The program includes award winning, demographic specific designs that are offered on a limited basis every six months through the dealerships. The wraps are specifically priced to be "wrapped into the finance." Test marketing of these Limited Edition wraps will accelerate in Q4 with the intent of a full rollout in both the US and Europe in Q1 of 2013.
SkinzWraps confirms that FastSkinz Films has been awarded its second patent.
SkinzWraps confirms that it expanded its land speed test rider base from two riders to four riders and each of the four riders broke a land speed record in their respective classes by significant margin at the famed Bonneville Salt Flats. One rider, Al Lamb, broke the record by such a significant margin that once validated, will be pursued for Guinness World Records status. All four riders are expert-level experienced land speed riders with many years of riding on the Bonneville Salt Flats, at extremely high speeds. Each rider is on record for stating that the FastSkinz film greatly assisted them in their record runs. These statements help confirm the most recent wind tunnel data analyzed on one of the four riders in the summer of 2012.
SkinzWraps confirms that it has developed and tested a "kitting process" for its FastSkinz Films. This kitting process is essential to the scaling FastSkinz Films. This kitting process includes detailed vehicle review by FastSkinz' aerodynamics expert (formerly of NASA), a DIY install option (with in-house training for large orders), and use of custom cutting tools.
SkinzWraps confirms that it has put into motion a European rollout for FastSkinz. This rollout is premised by the fact that fuel prices in Europe are significantly higher than in the US. The rollout is designed to utilize the free flow travel feature of the European Union, while not being directly affected by the EU nor delayed by the current Eurozone crisis. This European rollout of FastSkinz is not being staged in Italy; however, SkinzWraps Italia will play an important role on the implementation side and has already helped to lay important groundwork. The rollout is expected to go through Q4 and will be required to meet certain milestones before it is fully green-lighted.
SkinzWraps confirms that it has received steady interest from third parties in the MENA region to open up a location in the Middle East. The CEO of SkinzWraps has thoroughly studied the market/market culture/market potential and defined a framework and optimal location within the Middle East by which the company could move forward in that market. That framework is currently being presented to the interested parties in the MENA region and meets the necessary criteria. Through this process, should an opportunity come to fruition, a detailed analysis of current regional and worldly events and their potential impacts will be completed prior to a final decision.
"As we can see there a multitude of positive and exciting projects in play at SkinzWraps. It is important to note that each individual project is the result of tremendous work, and effort by the team at SkinzWraps. Additionally, it is important to understand that embedded within every project is The SkinzWraps Standards for Excellence (The Standard). Meeting The Standard ensures success by any measure," says Peter C. Salaverry, CEO of SkinzWraps. He adds, "This format of quarterly news updated via a traditional medium (e.g. press release) is a new approach for the company and will likely continue because it allows us to properly balance the development and delivery of new worthy projects with tell of such events. That said, we will continue to give real-time updates using the best social media tools available so make sure to follow us on Twitter and Facebook and our Car Candy blog, links to which can be found on our site www.skinzwraps.com."
About SkinzWraps, Inc.:
As the premier innovator of the vehicle wrap industry, SkinzWraps, Inc. has spent a decade perfecting the craft of being a full service vehicle wrap company. This dedication to superior craftsmanship allows SkinzWraps to excel in every aspect of the vehicle wrap. SkinzWraps has wrapped over 7800 vehicles, using the best products available to the industry including Avery Dennison's 1005 EZ Apply RS and the Epson GS6000 Printers.
Forward-Looking Statements Disclosure:
Forward-looking statements involve risks and uncertainties. This press release may contain "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Actual events could differ materially and substantially from those projected herein and depend on a number of factors.
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