SOURCE: Steadfast Holdings Group, Inc.
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January 17, 2008 09:00 ET
Steadfast Announces 5% Increase in Original $300,000 Agreement
Company Expects Additional Expanded Agreements to Be Announced
WEST PALM BEACH, FL--(Marketwire - January 17, 2008) - Steadfast Holdings Group, Inc.
(PINKSHEETS: STHG), announced they have signed an Expanded Agreement with
Savage Arms to spray coat several shooting ranges.
Steadfast CEO John Calash said in making the announcement, "This Agreement
expands the business we initially completed and opens additional revenue
streams for our new South Florida locations which are scheduled to open
over the next 30 days. In addition, a contract to do commercial spraying
through the Coco Beach, FL facility has been signed with Savage Arms. This
Agreement will help our franchisees in Coco Beach, Broward and Dade
Counties as well."
Mr. Calash further stated, "Thanks to the fact that our one-of-a-kind
product has been so well received, we have been able to generate additional
revenues by increasing sales via our current client base. This is a great
testament to the quality, flexibility and demand of our product. Hence, we
anticipate more of our clients to sign expanded agreements in the near
future which could greatly enhance our bottom line."
Steadfast Holdings distributes a variety of products to the automotive
aftermarket. The core business is its spray on truck bed protection product
which offers specially formulated polymers that permanently bond to the
truck's bed. The Company's spray-on Polyurea is a remarkable technology
with a range of uses limited only by one's imagination. They are utilized
in commercial, industrial, agricultural, military and custom applications
where this tough coating is used to protect everything from metals to
concrete against chemicals, solvents, fuel, etc. The Company is a licensed
dealer for the following aftermarket products: A.R.E. Truck Caps and Lids,
Tool Boxes, Nerf Bars, Tube Steps, Running Boards, Rack Systems, Rail Caps,
Tonneau Covers, Fender Flares, Grilles, Visors, Bug Shields, Roll-Up
Covers, Side Rails, Mud Guards, Floor Mats, Lights, Trailer Hitches,
Stainless Steel Accessories and Lift Kits. Stead-fast has distribution
agreements with the following companies that manufacture light truck
aftermarket products. Additional information may be found at
www.steadfastlinings.com.
The Savage Arms Company was organized in 1894 by Arthur Savage in Utica,
New York. Throughout its long history, Savage Arms has remained an industry
leader in arms and ammunition. Currently they offer a product line that
includes but is not limited to hand guns, rifles, shotguns and archery
along with a retail clothing line and shooting ranges. In 1992, Savage
designed and patented the SNAIL, an environmentally friendly shooting range
system that has since been adopted by all major firearms' manufacturers,
police, military and private shooting clubs in America and 14 other
countries. The NRA, FBI and numerous Special Forces currently use the SNAIL
Savage system. Additional information may be found at www.savagearms.com.
Safe Harbor
Statements regarding financial matters in this press release other than
historical facts are "forward-looking statements" within the meaning of
section 27A of the Securities Act of 1933, Section 21E of the Securities
Exchange Act of 1934, and as that term is defined in the Private Securities
Litigation Reform Act of 1995. The company intends that such statements
about the Company's future expectations, including future revenues and
earnings, and all other forward-looking statements be subject to the safe
harbors created thereby. Since these statements (future operational results
and sales) involve risks and uncertainties and are subject to change at any
time, the Company's actual results may differ materially from expected
results.