Tank Sports, Inc., a developer and marketer of motorcycles, scooters, ATVs and Go Karts sourced from manufacturers in China, plans to release five new ATV models in 2007.
Ms. Jingjing Long, president of Tank Sports, shared that news along with numerous other initiatives for the coming year during a recent press conference in City of Industry, Calif.
Long said the five new ATV will make a complete line of seven ATV models ranging from 110cc to 400cc. The company's target is to sell 6,000 ATVs and generate over $5,000,000 in revenue in 2007.
Other initiatives she mentioned:
-A hybrid motorcycle running on 85% ethanol and 15% gasoline has passed internal testing procedures and may be marketed in the near future.
-Mergers and acquisitions are a part of the company's growth strategy.
-Tank Sports' relationships with selected equity funds have been steadily growing. The company will follow up the SEC regulations and rules, such as 8-K filing, to disclose any material progress once it is necessary. The growing relationships with institutional investors will prepare the company with necessary funding and certain assurance to implement its long-term growth strategies.
Long said Tank Sports has already sold more than 22,000 units of motorcycles and ATVs under its proprietary brand name since 2001.
She said the company achieved $7.53 million in revenue for the fiscal year ended Feb. 28, 2006, and had net earnings of $275,406 for the first two fiscal quarters that ended August 31, 2006.
Copyright 2006 Powersports Business