GLENPOOL, OK--(Marketwire - August 27, 2010) - US Highland (
US Highland's reconstituted Executive Team includes:
Steven Moel -- CEO -- Dr. Moel is a transactional attorney and has been with US Highland since its public company formation. He provides overview management advice and assistance and is responsible for public company guidance and shareholder's value enhancement. His extensive experience with multiple corporations includes strong Corporate Governance, Mergers and Acquisitions, Directorships, corporate officer at all C-levels, Corporate Counsel and Business Advisor at Senior levels to many Public reporting and private companies and corporations.
J. Darin Long -- COO, Director -- He has been a key executive member of US Highland since the inception of the company providing the overview guidance in all technology development and the lead negotiator in all contracts and revenue development activities such as licensing, joint venture or merger efforts, and large product sales. Mr. Long has a deep experience in international negotiations, market analysis, organizational/process alignment and technology creation then to market efforts. He negotiated multi-national agreements and has directed the Swedish/Sino motorcycle joint venture for Highland. Darin will focus on creating and maximizing the multiple revenue opportunities available to US Highland in organic business, licensing project execution and meeting budgeted benchmarks of R&D technology to market achievements.
Michael La Lond -- CFO, joined the US Highland team recently. Mr. La Lond has broad experience in financial analysis, reporting, and executive management. He excels in implementation of accepted corporate processes and procedures, budget development and corporate fiscal policy especially in emerging growth companies such as US Highland. His leadership and management skills over 30 years have helped private and public firms realize internal efficiencies across all business systems.
Martin Lind -- VP of Operations -- was the Head of US Highland and Highland Group AB R&D and Racing for over 10 years. Mr. Lind has served as production manager in the company working in close alliance with the late Mats Malmberg, the company's recently deceased executive. Both were lifelong friends and carried the same motorcycle racing and technology experience and deep passion. Mr. Lind has matchless experience in all aspects of motorcycle platform development including engine, transmission, frame and suspension fuel systems. He has led US Highland through the complete development of patent pending, fuel and throttle body designs as well as the first racing-production stainless steel motorcycle frame which is uniquely lighter and stronger than aluminum.
Forward Plan
US Highland intends to fully implement its business plan that was initiated this year in the following fundamental multi-facet approach:
Organic Business
To commence production of innovative and affordable motorcycles that utilize patented technology to bring racing performance through highly select dealers using pull-based marketing system facilitated through its highly anticipated and innovative kiosk sales network beginning in North America, then around the world. Production of the company's high performance products will be delayed somewhat by the tragic event of July and due to management's decision to perform additional testing to the company's new line of products. It is anticipated that the new production plan will dictate that certain cost containment measures be implemented to allow focus on product platform finalization and marketing. US Highland will introduce an additional technology to their products during this time, and with the management transition, intends to move in a deliberate, yet innovative fashion, to create rewarding experiences and products for our dealers and consumers.
Technology Licensing
US Highland is currently in negotiations with parties for license agreements. These licensing capabilities are expected to be utilized in multiple markets worldwide.
Mergers and Technology Acquisition
At the time of the air accident, US Highland executives were in discussion with multiple companies as to strategic alliances within the US Highland family. These discussions will be continued as part of an overall strategic plan and opportunities will continue to be pursued wherever our key technologies can be competitively implemented to provide additional differentiation or unique value to our product lines.
Research and Development
US Highland has and intends to continue its internal R & D programs in the pursuit of new products and meaningful product enhancements such as in specialized fuel and electric drive systems to take advantage of evolving technology or to improve on present technology.
Financing
New production plans have predicated the need to raise additional capital and the US Highland Board has authorized the raise of $3 million USD through equity or debt to fund ongoing operations through to a point of profitability. The Board and Management are exploring and intend to execute on various alternatives near term.
Forward-looking Statement:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events of future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluation of such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set forth in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Contact Information:
Contact
For Investor Relations
Ron Brewer
Southbridge Advisory Group
(918) 599-9251