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HealthSport, Inc. (OTCBB: HSPO)
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HealthSport, Inc. develops, manufactures and markets nutritional supplements in a unique edible film strip delivery system. The Company currently markets its electrolyte strips under the Enlyten SportStrips™ in lemon-lime, orange and sour orange flavors. The strips are used as nutritional supplements to replenish energy during periods of exertion. HealthSport is currently focused on the sports activity replenishment segment. In addition, the Company is developing other edible film strip products for hangover recovery, mineral replacement and a variety of other applications.
In addition to introducing new products, the Company plans to grow through acquisitions. In April 2005, HealthSport contracted with InnoZen, Inc. to jointly develop a film strip product containing electrolytes. In May 2007, the Company acquired InnoZen. This acquisition will facilitate HealthSport's ability to formulate and develop new edible film products and delivery systems for nutritional supplements and over-the-counter drug applications. The Company has also entered into joint venture agreements with various companies for the formulation and development of electrolyte strips.
Demand for easy-to-swallow formulations fuels market growth
The market for edible strips is in an early development stage, with an anticipated growth of 40% annually over the medium-term. Easy to swallow, convenient handling (compared to energy drinks), and rapid absorption in the blood stream are key delivery system advantages fueling industry growth.
Strong portfolio of innovative products
HealthSport produces novel products in film strip form that dissolve quickly in the mouth and provide nutritional supplements to the body during periods of physical stress. The Company is also developing products in strip form for hangover recovery, mineral replacement and other applications. These products are more portable than drinks and tablets, easier to administer and more cost effective than traditional nutritional solutions. Market acceptance of these products is increasing and creating favorable growth opportunities for HealthSport.
Acquisition strategy enhances growth
HealthSport recently acquired InnoZen Inc. for $40 million and plans to develop new edible film products and delivery systems for nutritional supplements and over-the-counter drugs. The Company also recently acquired Cooley Nutraceuticals, Inc. which owns a formula that provides relief from hangover symptoms. These acquisitions extend the Company's capabilities, product offerings and revenue opportunities.
Effective marketing strategy
The Company is aggressively promoting its existing products while continuing to develop new products. Enlyten, Inc., HealthSport's marketing and distribution division, has a multi-year deal with the Buffalo Bills NFL football franchise to integrate Enlyten SportStrips into the player's training program. The Company has also signed US women's professional soccer player, Brandi Chastain, as a celebrity spokesperson for Enlyten SportStrips.
Experienced management
HealthSport is led by an experienced management team. Daniel Kelly, the Company's President has more than 20 years experience in marketing, promotions, and celebrity endorsements and, in former roles, has negotiated marketing deals with Fortune 500 companies such as McDonalds.
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