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HSPO Horizon Space Acquisition I Corporation

11.10
0.01 (0.09%)
31 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Horizon Space Acquisition I Corporation NASDAQ:HSPO NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.01 0.09% 11.10 11.05 11.14 11.10 11.08 11.08 6,257 23:49:42

HealthSport, Inc. Subsidiary Enters Strategic Manufacturing Agreement

19/08/2009 2:30pm

PR Newswire (US)


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InnoZen, Inc. to Begin Manufacturing Proprietary Edible Film Strip Products at SMI Manufacturing's cGMP Facility WOODLAND HILLS, Calif., Aug. 19 /PRNewswire-FirstCall/ -- InnoZen, Inc., a wholly owned subsidiary of HealthSport, Inc. (OTC:HSPO) (BULLETIN BOARD: HSPO) announced today that it has entered into a manufacturing agreement with Supplemental Manufacturing and Ingredients, LLC ("SMI"), a cGMP certified manufacturer based in Tempe, Arizona. As part of the Agreement, SMI has committed to purchasing $1,000,000 worth of HealthSport common stock. The Agreement, dated August 13, 2009, provides that SMI (http://www.smimfg.net/) will produce all edible thin film products for InnoZen for both domestic and international sales. SMI has committed to increase capacity to accommodate InnoZen's projected sales. "We believe that this partnership with SMI will accelerate our sales and marketing efforts allowing us to pursue larger clients, and align us with one of the leaders in the nutraceutical, dietary supplement and pharmaceutical manufacturing industries. This is yet another example of HealthSport's commitment to work with leaders in all fields," said Jeffrey Wattenberg, President of HealthSport. "SMI has the manufacturing facility and all of the certifications needed to allow us to take advantage of the exploding market for our bi-layer and newly developed proprietary encapsulation film strip technologies." cGMP is a term recognized worldwide for the control and management of manufacturing and quality control testing of foods, pharmaceutical products, and medical devices under regulations promulgated by the U.S. Food and Drug Administration ("FDA"). SMI's "Excellent" rating is the highest possible rating for cGMP facilities. Kevin Taheri, CEO of SMI stated that "SMI is committed to working with HealthSport to not only integrate the existing technologies into SMI's operations, but to also work with Jeff and his team to advance the technology beyond dietary supplement and nutraceutical products into over-the-counter drugs and pharmaceuticals. This is one of the most exciting technologies existing today for delivering both nutraceutical and pharmaceutical actives." About HealthSport, Inc. HealthSport, Inc. (http://www.healthsportinc.com/) is a fully integrated developer, manufacturer and marketer of unique and proprietary branded and private label edible film strip nutritional supplement and over-the-counter drug products. HealthSport's wholly-owned subsidiary, InnoZen, Inc. (http://www.innozen.com/), is the preeminent formulator, developer and manufacturer of edible film strips that deliver drug or dietary supplement actives through buccal (between the cheek and gum) absorption as well as normal ingestion. InnoZen's proprietary edible film strip delivery technology is superior to any other competitive, edible film strips currently available on the market. InnoZen has five patents pending and has developed numerous trade secrets which it incorporates in the development and manufacturing process of its edible film strip products. Forward-Looking Statements 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 or 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 evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set 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. DATASOURCE: HealthSport, Inc. CONTACT: Mike Sclafani of HealthSport, Inc., +1-303-903-2090 Web Site: http://www.healthsportinc.com/ http://www.innozen.com/ http://www.smimfg.net/

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