Published:
MotivNation Looks to Diversify
MotivNation (OTCBB: MOVT), an Orange County,
California-based provider and manufacturer of "tools and toys for the
automotive enthusiast," today announced to diversify its markets sector.
The Company's principal operating subsidiary, TrixMotive, Inc., filed
Chapter 7 bankruptcy.
George R. Lefevre, MotivNation CEO, commented, "In order to stabilize
ongoing operations and protect the parent company from additional
expenditures to keep MotivNation operational, the subsidiary filed for
Chapter 7. Today is a new beginning in the process of shifting its
operational focus and to diversify in our troubling sector. After
evaluating our various business lines, we decided to take immediate steps
to shut down money-losing operations and focus on developing positive cash
flow business opportunities. The best course of action for MotivNation is
to exit certain parts of its businesses and move in a new direction."
About MotivNation:
Based in Irvine, California, MotivNation's business divisions provide a
full range of services that cater to the custom motorcycle and automotive
enthusiast, including the sale, manufacture, converting, customization,
armor protecting, and installation of custom-built automotive and
motorcycles, auto parts and accessories, as well as restoration, repair,
and servicing.
For more information, visit http://www.MotivNation.com.
Safe Harbor Statement: This news release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995 (the "Act"). Statements in this release, which relate to the
Company's plans and strategies, as well as management's expectations about
new and existing products and services, acquisitions and opportunities,
market growth, demand for acceptance of new and existing products and
services, are forward-looking statements. In particular, when used in the
preceding discussion, the words "estimated," "believe," "optimistic,"
"expect," and similar conditional expressions are intended to identify
forward-looking statements within the meaning of the Act and are subject to
risks and uncertainties, and actual results could differ materially from
those expressed in forward-looking statements. Such risks and uncertainties
include, but are not limited to, unfavorable market conditions, increased
competition, limited working capital, and failure to implement business
strategies, actions by regulatory agencies, and other risks and
uncertainties that could cause actual results to differ materially from
historical or anticipated results due to many factors. Such statements
involve risks and uncertainties which could cause actual results to differ
materially from management's expectations. Such risks and uncertainties
include, but are not limited to, the risks inherent in bankruptcy court
proceedings and risks associated with entering the financial services
markets, as well as the risks detailed in our filings with the Securities
and Exchange Commission, including without limitation, those detailed under
the heading "Risk Factors" in our most recent Annual Report on Form 10-K.
MotivNation, Inc. disclaims any intention or obligation to revise any
forward-looking statements, including financial estimates, whether as a
result of new information, future events, or otherwise.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
Daily News
Tags: ,Automotive:Cars, Automotive:Motorcycles, Automotive:Trucks, Automotive:Parts and Accessories, Automotive:RepairandRestoration, Automotive:Otherpassengervehicles, ,OTCBULLB,OTCBULLB,CA,IRVINE, CA
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