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"In our quest to find an acquisition that would complement the launch of Natural Renu, management searched for a business that would provide the Company inside expertise in Internet development, operations and marketing," states Paul Smith, CEO. "We were attracted to E-Strategic Solutions as it provided all of the capabilities in our search criteria. During our due diligence, it became evident that E-Strategic Solutions owned and operated a very unique Internet-based online ordering system for the restaurant industry that has the capabilities to be expanded into other industries that require intuitive, sophisticated consumer interaction while ordering online. ESS provides the Company with a new source of income stream that has significant upside."
The Company acquired ESS through a non-cash, non-share exchange purchase of certain assets with a corresponding assumption of certain debts. The Company was not required to secure outside investment to close this acquisition.
ESS, www.estrategicsolutions.com, was formed in 2002 by several Internet technology experts who identified a void in the online ordering sector of the restaurant industry. After several years in development and the expenditure of approximately $1.0 million in research and development, ESS launched its online ordering software platform, called "Alethes", to the restaurant industry in 2007. Today, ESS operates from its headquarters in Atlanta, Georgia having approximately 60 clients and has processed in excess of 1.2 million online orders.
ESS's current market is the restaurant industry in North America where currently there are some 1.1 million restaurants and according to the National Restaurant Association only 5% of these restaurants have some form of online order capabilities. According to the "Pew National Consumer Survey" although over 81% of all U.S. consumers had internet access either at home or work, Online Ordering for restaurants is still in its infancy generating less than 0.02% of all sales generated through the Internet.
SAFE HARBOR STATEMENT: Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the operations of a company.
SOURCE: Medspas of America Inc.
Medspas of America Inc. Paul Smith, 1-866-595-1081 x 701 Investor Relations info@medspasofamerica.com
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