SOURCE: Leatt Corporation

November 02, 2007 09:21 ET

Leatt Corporation Releases Unaudited Financial Statements for the First Nine Months of the FY2007 and Appoints a New President and COO

CAPE TOWN, SOUTH AFRICA--(Marketwire - November 2, 2007) - Leatt Corporation (PINKSHEETS: LEAT), a Nevada, USA Corporation headquartered in Cape Town, South Africa, and the distributor of the Leatt-Brace™, a Neck Brace System designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck), today announced that its Unaudited Financial Statements for the nine month period ending September 30, 2007 FY2007 ("the first Nine Month FY2007") have been posted on the company's website: http://www.leatt-brace.com/ir_corporate-finreports.asp.

Dr. Leatt, Chief Executive Officer of the Company, said, "We are pleased with the financial results for the first nine months of fiscal year 2007. Our immediate corporate goals include expanding our distribution network and continuing new product development. We will also be working toward a goal of helping the Company achieve a more stable and liquid market for its securities although we cannot provide any assurances as to whether and when the Company might reach that goal. We have added two operational executives to assist in our efforts to achieve these goals, as well as to assist in the implementation of our strategic plans. I will continue to serve as Chief Executive Officer and will be focused on overall strategic planning and new product development."

Leatt Corporation appointed Mr. Jeff Guzy as President, and Ms. Ria Van Der Merwe as Chief Operating Officer, both appointments effective as of November 1st, 2007.

Mr. Guzy is a 20-year executive with significant business development experience. He holds an MBA from the Wharton School of Business. Ms. Van Der Merwe runs her own Management Consulting Company and has been assisting Leatt with human resources issues. Dr. Leatt, Chief Executive Officer of the Company, said, "We have appointed two key executives to assist me in realizing Leatt Corporation's full potential. Both our new appointees are familiar to Leatt Corporation and have served on the Board of Directors."

The above reference to our corporate website does not incorporate by reference any part of that website into this press release.

About The Leatt Corporation: The Leatt Corporation is the exclusive global distributor of the Leatt-Brace™, a Neck Brace designed to prevent or lessen the severity of potentially devastating motor sport injuries to the cervical spine (neck). The company's operations and research and development of the core products currently take place at the Leatt Corporation's offices in Cape Town, South Africa.

For more information on the Leatt-Brace™, please visit the company website at www.leatt-brace.com. Any website or portion thereof referenced herein is not a part of this press release.

Legal Notice Regarding Forward-Looking Statements: This press release may contain forward-looking statements covered by the Private Securities Litigation Reform Act of 1995 (15 U.S.C. §78j), which are based on the Company's current expectations, forecasts and assumptions. In some cases forward-looking statements may be identified by forward-looking words like "would," "intend," "hope," "will," "may," "should," "expect," "anticipate," "believe," "estimate," "predict," "continue," or similar words. Forward-looking statements involve risks and uncertainties which could cause actual outcomes and results to differ materially from the Company's expectations, forecasts and assumptions. These risks and uncertainties include risks and uncertainties not under the control of the Company, including, without limitation, the current economic climate, market acceptance of our products, which we regard as novel, the start-up nature of our business, the risks of regulatory scrutiny and investigations the limited resources of the Company and resulting vulnerability of the Company and its products to domestic and international competitors with considerably greater resources than the Company and possible inability to establish market share against competing products in many markets, current limited distribution channels for the Company's products, actions of our competitors, the limited cash reserves of the Company and the possible, resulting reliance on the sale of Company securities to finance operations, the extent to which affects our ability to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our products, and changes in our business strategies. The Company's common stock is quoted on the "Gray Market" of the Over-the-Counter market and the Company is a "penny stock company" (as defined under the rules of the Securities Exchange Act of 1934, as amended). There is almost no trading activity in the common stock and there can be no assurances that the Company will be able to attain quotation of its Common Stock on The Pink Sheets or any other public securities markets. The Company is not a reporting company under the federal securities laws and our financial results are no longer posted on The Pink Sheets. As such, there are additional, substantial risks associated with the Company and its securities. Such risks include limited liquidity of the Company's common stock, susceptibility to trading pressure and limitations on ability of broker-dealers to trade or recommend such stock.

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