Attached files
| file | filename |
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| 8-K - MEGOLA INC | v167472_8k.htm |
| EX-10.0 - MEGOLA INC | v167472_ex10-0.htm |
Megola
Signs Distribution and Sales Agreement for the Hartindo Anti-Fire Product
Line
POINT
EDWARD, ON—(Marketwire - September 16, 2009) - Megola Inc. (PINKSHEETS: MGOA) announced that
after a successful probation period, the signing of a Distribution and Sale
Agency Agreement with New Fire Solutions, LLC (NFS) for the Hartindo line of
Anti-Fire Products.
"Megola
is very pleased to have expanded our distribution channel by bringing New Fire
Solutions, LLC into the fold. Over the past several months, NFS has shown their
potential to become a successful distribution group and we feel NFS, by
utilizing their marketing and sales expertise, will be a great addition in
coordinating our push into the fire inhibitor safety market," stated Joel
Gardner, CEO of Megola Inc.
"New Fire
Solutions, LLC is truly excited about this tremendous opportunity to
commercialize the revolutionary Hartindo line of Fire Inhibitor and Fire
Suppression products. We feel our extensive network of contacts will provide a
strong complement to Megola and the Hartindo product line and are confident that
this arrangement will prove to be extremely successful for both of our
companies," stated Willard W. Brown Jr., President and CEO of New Fire Solutions
LLC.
Highlights
of the Agreement include, but are not limited to, the following:
Megola
and NFS entered into a Memorandum of Understanding on April 6, 2009 whereby the
following points and terms, among others were agreed to and which are now
binding on both parties:
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1.
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NFS
will become an Agent for the commercialization of the Hartindo Anti-Fire
product line on behalf of Megola. As an Agent, NFS will be
provided with the authority and responsibility to coordinate all
supporting activities necessary to facilitate the sales and distribution
of the Hartindo product line in North
America.
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2.
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This
Agreement will remain in effect perpetually and shall be extended for all
Hartindo products upon achieving the sales milestone of $2M in the first
eighteen months immediately following the contract date and achieving 15%
annual sales growth for 5 years
thereafter.
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3.
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NFS
will become an Agent for the commercialization of Hartindo anti-fire
products on behalf of Megola and will manage the commercialization process
inclusive of representative management, compensation, training,
etc...including:
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a.
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Develop
and provide marketing materials and strategies on an industry by industry
basis
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b.
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Provide
dedicated customer service
representatives
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c.
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Provide
engineering support for product development and
testing
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d.
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Utilize
a structured program management process from product inception through
production release
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About New
Fire Solutions, LLC:
New Fire
Solutions, LLC is a privately held firm based in New Jersey, USA. NFS has
assembled several key individuals, all having an extensive network of business
contacts from a wide range of industries and sectors which will focus on
commercializing and distributing the Hartindo Anti-Fire product line in all
markets from household to commercial to military applications.
For more
information on New Fire Solutions, LLC, visit http://newfiresolutions.com
For more
information on Hartindo products and Megola Inc. visit http://www.megola.com
The
matters set forth in this press release are forward-looking statements within
the meaning of the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially. These risks
are detailed from time to time in the company's periodic reports filed with the
Securities and Exchange Commission including the company's Annual Report,
Quarterly Reports and other periodic filings. These forward-looking statements
speak only as of the date hereof. The company disclaims any intent or obligation
to update these forward-looking statements.
Contact Information:
Megola
Inc.
Daniel
Gardner
1 888 558
6389
IRinfo@megola.com
http://www.megola.com