PHILADELPHIA, Sept. 20 /PRNewswire/ -- avVaa World Health Care Products, a global biotechnology company offering therapeutic skin and health care products, today issued the following letter to shareholders:
Dear Shareholder:
With avVaa's recent filing of SEC Form 10-KSB and accompanied financial statements, now is an excellent time to update our valued shareholders on the Company's accomplishments in fiscal year 2004 and to provide an update on future plans.
As anticipated, we expended a significant amount of resources in 2004 to implement the development phase of avVaa's comprehensive business plan. This phase has included a number of significant accomplishments for avVaa including: a number of strategic agreements, location of a production facility and a contract that allows us to outsource manufacturing for our skin care products.
After exhaustive review of the manufacturing process and associated costs, avVaa entered into a contract with the established Natures Formulae, of Kelowna, B.C., Canada. In order to produce our all natural, therapeutic line of skin care products and allow for growth of our anticipated spa line, and because of the eventual addition of Natures Formulae spa products, avVaa's management felt their was significant advantages presented by this agreement which eventually led to the decision to discontinue the original acquisition of Mystic Mountain Bath and Spa Products, and the accompanied manufacturing agreement with First Nations Band.
While these necessary growth measures were implemented, management has remained focused on efficient and careful use of capital. Though our cost of development was significant, avVaa's management negotiated many of these costs for most services in stock, preserving cash for critical product development and related costs. Because many of our service vendors recognize the Company's growth potential, many of these payments were made in Rule 144 Restricted Stock, which must be held for at least one year. This allowed the company to preserve its most precious commodity, cash.
We are presently in discussions to raise the additional debt and equity funds necessary to complete the important next phase of avVaa's business plan, which calls for aggressively pursuing sales through a comprehensive, integrated approach to marketing that includes: Internet, television and related advertising campaigns.
We are expecting to have our first production run of 40,000 bottles ready for shipment in the latter part of October. This will include: the Neuroskin Spray, a product for eczema, psoriasis and dermatitis; Itch X, an itch relief product for allergies, bites and other skin itch irritations; and Dermac, an acne treatment product. Labels and boxes have been developed.
The first phase of brand development has been accomplished through the finalization of our corporate logo and brand word mark "care". Our differentiating brand image reflects avVaa's core value of "improving quality of life and well-being". It is intended to strike an emotional cord with customers, employees, and stakeholders. This word mark and image will clearly convey our message on labels, boxes and advertising. The brand personality will continue to evolve and will be molded to represent avVaa as a trusted purveyor of skin care solutions.
We are confident that we will implement our business plan moving forward and are extremely excited about evolving from a business development company into a consumer products company.
Thank you for your continued support of avVaa World Health Care Products. Jack Farley, CEO and President
About avVaa World Health Care Products, Inc.
avVaa World Health Care Products, Inc. is a global biotechnology company providing effective, all natural, therapeutic skin care products that improve quality of life and well being for customers. avVaa's patented European skin care formulas are scientifically developed to relieve and treat the symptoms of skin diseases including eczema, psoriasis, and acne. avVaa is poised to globally manufacture and market its O-T-C Neuroskin line of skin care products through mass food and drug channels in the United States. The Company's four core products are registered FDA compliant.
Headquartered in Philadelphia, PA with operations in Vernon, BC Canada, the Company's revenues will be generated through retail sales, direct marketing efforts and institutional sales supported by national advertising and promotional campaigns throughout USA and Canada. More information can be found at http://www.avvaa.com/
For more information, visit : http://www.avvaa.com/ or http://www.otcfn.com/avvw .
Safe Harbor: Statements contained in this press release that are not based upon current or historical fact are forward looking in nature. Such forward- looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties, and events that may be beyond the control of avVaa World Health Care Products, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include but are not limited to the ability to procure, properly price, retain, and successfully complete projects, the availability of technical personnel, changes in technology, and competition.
Contact: Investor Relations: Merle Goertz (West Coast) Geoffrey Eiten (604) 688-2349 OTC Financial Network (781) 444-6100 x613
avVaa World Health Care Products, Inc.CONTACT: Merle Goertz (West Coast), +1-604-688-2349; or InvestorRelations - Geoffrey Eiten of OTC Financial Network, +1-781-444-6100,ext. 613
