SOURCE: OmniReliant Holdings, Inc.

OmniReliant Holdings, Inc.

January 03, 2011 17:50 ET

OmniReliant Holdings Inc. Initiates Substantial Restructuring and Changes Name to Infusion Brands Int'l, Inc.

CLEARWATER, FL--(Marketwire - January 3, 2011) - OmniReliant Holdings, Inc. (the "Company") (OTCBB: ORHI) is pleased to announce that as of December 31, 2010, it has initiated a substantial restructuring to fully reflect its new singular operating model, beginning, January 1, 2011. 

Throughout the prior year, the Company's new management team has changed the Company's operational, business, and financial strategies to reflect the Company's move from an asset acquisition holding company to a singular operating business model as a global Consumer Products company, specialized in building and marketing profitable brands in large consumer product categories through its international direct-to-consumer channels of distribution.

Robert J. DeCecco, the Company's CEO, said, "Our Board of Directors has spent much of the past year preparing for this new business strategy by recruiting a strong management team with deep industry expertise, forging valuable strategic partnerships, establishing a strong sales pipeline, and creating scalable operational excellence which will be the backbone of our future growth as a Consumer Products enterprise. We believe that our new business strategy, tied together with this foundation and a 'fresh start' approach to our overall business direction, will lead to the ability of accomplishing our goals for 2011 and beyond."

As part of this fresh start approach, the Company has decided to change its name by entering into an agreement and plan of merger with Infusion Brands International, Inc., a Nevada corporation and the Company's wholly-owned subsidiary. Pursuant to the terms and subject to the conditions set forth in the merger agreement, the Company merged with and into Infusion Brands International, Inc., continuing as the surviving corporation with the surviving corporation changing its name to "Infusion Brands International, Inc." 

In conjunction with the name change, the Company has also applied for a voluntary stock ticker symbol change with the Financial Industry Regulatory Authority ("FINRA"). If approved, the ticker symbol change will be announced in a forthcoming filing on a Form P-IC with the Securities and Exchange Commission (the "SEC") and press release.

Moreover, the Company has initiated a number of financial restructuring events, as outlined in recent filings with the SEC, to provide more simplicity and clarity regarding the future reporting of the Company's financial statements. Such changes should result in more stable and transparent financial statements, with a focus on operating results, making it easier for an investor or other stakeholder to better understand and value our business properly.

The Company will continue to release more information about our new brand identity and overall go-to-market strategy as a global Consumer Products company in the weeks and months ahead. 

About Infusion Brands International, Inc.

Infusion Brands International, Inc. is a leading international consumer products company. Its wholly owned operating company, Infusion Brands, Inc. specializes in building and marketing profitable brands in large consumer product categories through its international direct-to-consumer channels of distribution. 

The corporate offices of Infusion Brands International, Inc. are located at its 34,000 square foot facility, 14375 Meyerlake Circle Clearwater, Florida 33760. Questions related to Infusion Brands may be addressed to Robert J. DeCecco, CEO, at 727-230-1031.

Forward-Looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Undue reliance should not be placed on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements.

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