AMHERST, N.Y., April 21, 2008 (PRIME NEWSWIRE) -- HealthSport, Inc. (OTCBB:HSPO), a fully integrated developer, manufacturer and marketer of branded nutritional supplements in a one-of-a-kind edible film strip delivery system, announced today that it has reached an agreement with Liberator BDC, Inc., a business development corporation focused exclusively on defense and related companies, to assist the Company's marketing efforts to governmental agencies and defense forces around the world. This announcement comes as positive results on HealthSport's first CHAMP (Consortium for Health and Military Performance) study are released.
Edward J. Wegel, President and CEO of Liberator, stated, "The results from the CHAMP study confirm our own due diligence -- Enlyten SportStrips can provide a much needed solution for today's military -- in both training and combat environments. We see Enlyten SportStrips being used as an integral part of our armed forces' basic and mandatory need to help prevent dehydration and maintain alertness at all times."
HealthSport is currently involved in three studies with CHAMP and has recently successfully concluded its first study at the Marine Corps Marathon.
Wegel added, "HealthSport's technology offers the Military a wide range of opportunities to develop products that can more efficiently serve our soldiers both here and abroad. The applications of HealthSport's bi-layer technology and delivery system offer significant advantages that current products cannot provide. Their RASER (Rapid Acting Side Effect Reducing) technology is state of the art and can prove to be game changing. Our senior board members are very excited about the prospects for Enlyten products and we look forward to working closely with Enlyten's senior management to identify new uses for the product as well as potential customers for the entire product line within our areas of expertise."
"The knowledge and experience that Liberator brings to our team is invaluable. Their partnerships and relationships are of the highest caliber and we welcome their expertise as we explore all avenues of development and distribution," said Robert Kusher, HealthSport, Inc. CEO.
About Liberator BDC, Inc.:
Liberator BDC, Inc. is a specialty finance company/ business development corporation that provides customized financing to lower and middle market companies within the defense, aerospace and homeland defense industries, as well as technology or biotechnology companies that are producing technologies that have a market within any of these industries, located throughout the United States. As a BDC, Liberator provides managerial assistance to certain of its portfolio companies. This assistance will typically involve, among other things, monitoring the operations of the portfolio companies, participating in board and management meetings, consulting with and advising officers of portfolio companies and providing other organizational and financial guidance. Liberator BDC can identify and recruit high-quality board members and management to its portfolio companies as part of the investment process. In addition, Liberator BDC provides strategic consulting and investment and merchant banking services to small market and growth companies in global security arena, including port security, surveillance, communications, risk management, data and intellectual property, biometrics, logistics, software and information technology. Liberator BDC is a business builder and accelerator by assisting entities with organic growth, acquisition, development, sales and marketing.
Liberator's Chairman, General (Ret.) Ronald Robert Fogleman, was Chief of Staff of the United States Air Force from 1993-1997, where he was responsible for 750,000 active duty, Guard, Reserve and civilian forces serving in the United States and overseas. Liberator's Vice Chairman, Joe R. Reeder, served as Undersecretary of the Army from 1993-1997 and later as Chairman of the Panama Canal Commission. He essentially served as the Army's COO and his responsibilities included long-range planning, material requirements, readiness, acquisition reform, infrastructure reduction, and financial management of the Army.
About HealthSport, Inc.
HealthSport (http://www.healthsportinc.com) is a fully integrated developer, manufacturer and marketer of unique and proprietary branded and private label edible film strip nutritional supplements and over-the-counter drugs. The Company owns three subsidiaries -- Enlyten, Inc., InnoZen, Inc. and Cooley Nutraceuticals, Inc. Enlyten (http://www.enlytenstrips.com) was created to market and distribute HealthSport's products. InnoZen (http://www.innozen.com) is the preeminent formulator, developer and manufacturer of edible film strips that deliver drug actives through buccal (between cheek and gum) absorption. InnoZen's proprietary edible film strip delivery technology is superior to any other competitive edible film strips currently available on the market. InnoZen has five patents pending and has developed numerous trade secrets which it incorporates in the development and manufacturing process of edible film strips.
Forward-looking statements in this release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only and is not an offer or solicitation to buy or sell the securities.