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.
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