Monday
July 29, 2002
BFIT to Merge with EatWize Marketing
NEWTON, N.H., July 29 /PRNewswire-FirstCall/ -- Ronald S. Laura
Enterprises, Inc. (OTC PK: BFIT), today announced that it has
concluded its negotiations with EatWize Marketing LLC ("EatWize"),
the developers of an established formula Infomercial product.
Closing for the transaction is scheduled for July 31st. Under
the terms of the merger agreement, BFIT will issue 13,002,000
shares of its common stock, Douglas Blattner, CEO of EatWize will
assume the title of President and CEO of the combined entities
and will assume the role as Chairman of the Board of Directors.
Dr.
Ronald Laura, currently Chairman of the Board of BFIT stated:
"We are very excited about this merger. It establishes a
partnership between the two operations, establishes strong executive
leadership and allows me to continue the development and marketing
of products and nutritional supplements for strengthening the
body."
EatWize
is a nutritional lifestyle product that incorporates the successful
elements of many nutrition and diet plans. It is structured so
that each customer can modify the diet to account for personal
likes and dislikes. There is an interactive element to the product
that allows for each customer to gain immediate feedback on progress
in following the plan.
Before
joining EatWize, Mr. Blattner was heavily involved in online marketing
and process control development. He has been directly involved
with products targeted for direct response marketing. Douglas
Blattner, CEO of EatWize stated, "We are in production for
the initial product. We have great expectations of getting to
market by the key selling season and expect to show significant
results by the first quarter of next year. There are synergies
that we expect to establish with what Dr. Laura has done with
his concepts and product."
BFIT
sells the "Aussie Mega Pump," a body conditioning system
developed by Dr. Laura. He has been a weight-training and body-conditioning
expert for the past fifteen years and authored twenty-five books
on body conditioning and related subjects.
This
press release includes or may include certain statements, estimates
and forward-looking projections of the company with respect to
the anticipated future performance of the Company. Such statements,
estimates and forward looking projections reflect various assumptions
of the management of the Company that may or may not prove to
be correct and involve various risks and uncertainties including,
but not limited to, the risk factors contained herein.