Planet Technologies Inc. Posts 3Q Results and Will Forego Reincorporation

RIDGEFIELD, Conn., Nov. 13  /PRNewswire/ -- Planet Technologies Inc.'s (OTC:PLNT) (BULLETIN BOARD: PLNT)  reported a loss for the quarter ended Sept. 30 of $395,205, or 10 cents per share, compared with a loss of $280,924, or 9 cents per share, during the same period last year.  The $395,205 loss for the current year includes the addition of stock based compensation of $114,942 as well as increased amounts of amortization of intangibles of $66,250 that were acquired with the purchase of Allergy Control Products, Inc. on August 11, 2005.  These increases were partially offset by cost reductions from the combined operations.

At its annual shareholder meeting on August 1, 2006 Planet Technologies, Inc. shareholders' approved a Merger Agreement between Planet, a California corporation, and its wholly owned subsidiary Allergy Control Products, Inc., a Delaware corporation, wherein the surviving entity would be incorporated in the State of Delaware under the name of "Planet Technologies, Inc."  The result of the merger would have been the change in state of incorporation of the Company from California to Delaware.  Mr. Scott Glenn, President & CEO announced that management has decided not to undergo the reincorporation at this time.

The Company is engaged in the business of designing, manufacturing, selling and distributing common products for use by allergy sensitive persons, including, without limitation, air filters, bedding, room air cleaners, and related allergen avoidance products. 

DATASOURCE: Planet Technologies Inc.



CONTACT:  Francesca DiNota, CFO of Planet Technologies Inc.,

[phone], ext. 3011, 

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