SOURCE: Pine Ridge Holdings, Inc.

August 06, 2008 14:40 ET

Pine Ridge Holdings -- ServeNation Outlines American Red Cross and Radio Station Marketing Plan

FORT WAYNE, IN--(Marketwire - August 6, 2008) - Pine Ridge Holdings, Inc. (PINKSHEETS: PINR) CEO Kevin May presented today ServeNation's plans to work with the American Red Cross and listener supported radio station Star 88.3: www.star883.com.

May stated, "We have had a relationship with a member of the American Red Cross leadership team for some time. The great work that they do and the opportunity to assist them in fund raising was a natural fit. It was moved as a high priority for the company once we learned of one chapter's program of distributing 500 gift cards per month to its volunteers as a thank you. With 717 local chapters, the opportunity to provide the gift cards and then return some of the proceeds back to each chapter fit our model perfectly. For that reason, we have constructed stores for each of the Red Cross chapters and have started a campaign, both at the national and local levels, to assist the chapters in their "thank you" to volunteers."

May continued, "As stated in Monday's PR, the success of ServeNation comes less from the number of stores than it does the number of purchases. With that in mind, Star 88.3 is quickly becoming the model for all stores as we approach the holiday season. Their strategy, launched today, is simple, yet powerful.

1) Board, staff and staff family purchases - those who are most concerned with the success of Star doing what they can to support the store.

2) Supporting Businesses - those businesses that support Star 88.3 begin to purchase office supplies, gas, etc. to benefit Star 88.3.

3) A "Narrow but Deep" strategy - a campaign to see the top 1% of supporters change how they purchase to benefit Star 88.3 to the greatest level. The hope is to have 100 supporters purchase $2,000 per month from the store.

4) A Wide but Shallow" strategy - contacting their top 3,000 supporters to purchase just gas and groceries.

5) Website, on the air announcements, event advertising to promote the store.

May concluded, "It is our hope and the hope of Star 88.3 that the above campaign will lead to more than $30 million in gift card purchases per year. Star 88.3 General Manager, Melissa Montana is known in the industry and has relationships with many other stations across the country and is willing to introduce the ServeNation store concept to others. Ten similar stations onboard by November 1 is a newly announced goal for ServeNation. The Star 88.3 strategy and sales goals planted within each of these 10 stores will move us exactly where we need to be for a potential sale."

Shareholders are encouraged to visit http://www.pineridgeholdings.com for informational updates.

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.

Contact Information

  • CONTACT:
    Pine Ridge Holdings, Inc.
    Kevin May
    260-637-9090