LAS VEGAS, NV--(Marketwire - July 12, 2011) - Cardio Infrared Technologies, Inc. (PINKSHEETS: CDOI) www.cardioinfraredtech.com, www.thebiofit.com, a leading Health and Wellness technology and marketing company, announced today that Cardio Infrared Technologies, Inc. is negotiating with two national fitness centers that would provide an exclusive relationship with each gym for a period of four years. The exclusive relationship would be specifically for that gym's controlling market in the United States.
Wayne Bailey, President and CEO of Cardio Infrared Technologies, Inc., stated, "The company is negotiating with firms that want a multiyear exclusive within their industry for the BioFit™. We were approached by the Fitness Centers desiring to have the BioFit™ in their facilities nationwide under an exclusive arrangement. The company's position on this pending order is dependent on the unit commitment per state that will justify an exclusive for that market. The company would require an agreement calling for a multimillion dollar order for each year the agreement is in place."
The agreement would stabilize the orders at Cardio Infrared's manufacturing facility and significantly improve profitability for the company.
About Cardio Infrared Technologies, Inc.
Cardio Infrared Technologies, Inc. is a technology and marketing company, which is focused on developing the revolutionary and evolutionary process of combining exercise equipment with medical benefits that go far beyond the normal benefits of standard exercise equipment. Cardio Infrared Technologies, Inc. is committed to continue to market this equipment to the exercise and medical markets and to aggressively expand the market into every country around the world. The technology has been featured on Good Morning America and The View. Cardio Infrared Technologies, Inc. also has an aggressive growth plan that includes mergers and acquisitions and the development of innovative new equipment and programs within the exercise and medical industries.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.