"Sales were up 26% overall as compared to last year; however Tank Sports
failed to obtain the same gross margin as last year. This was mainly due to
the higher purchase cost of products from
"The operating results for the year was a loss of
"Looking ahead to face the challenges from the slow down in economy, the
Company has devised plans to cut down on operating expenses in the first
fiscal quarter of 2008 and the full effect of these savings will be shown in
the second quarter ending
About Tank Sports, Inc.
Tank Sports is a leading company that develops, engineers, and markets
high performance on-road motorcycles and scooters, as well as off-road
all-terrain vehicles (ATVs), dirt bikes and Go Karts in
Safe Harbor
The foregoing news release includes numerous forward-looking statements concerning the company's business and future prospects and other similar statements that do not concern matters of historical fact. The federal securities laws provide a limited "safe harbor" for certain forward-looking statements. Forward-looking statements in this news release relating to business developments are based on the company's current expectations. The company's current expectations are subject to all of the uncertainties and risks customarily associated with a small business venture including, but not limited to, market conditions, successful product development and acceptance, competition and overall economic conditions, as well as the risk of adverse regulatory actions. The company's actual results may differ materially from current expectations. Readers are cautioned not to put undue reliance on these statements. The company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or for any other reason.
SOURCE Tank Sports, Inc.