Press Release Summary = CAPE TOWN, South Africa - Leatt Corporation (U.S. Pink Sheets: LEAT.PK), a Nevada, USA Corporation headquartered in Cape Town, South Africa, that develops, sells and distributes the Leatt-BraceT, a Neck Brace System designed to help prevent potentially devastating motor sport injuries to the cervical spine (neck), today announced that the company has successfully outsourced its production to Playmaker (Pty) Ltd., a high-volume production facility based in Taiwan/China.
Press Release Body = Taiwan based Playmaker (Pty) Ltd. has been in operation for approximately 40 years, has roughly 1,000 employees located at their 100,000mē factory and specializes in the manufacture of wakeboards, snowboards, water skis and the related bindings. Playmaker also has production facilities in Mainland China which will be utilized to manufacture products for Leatt Corporation.
The outsourcing of production to Playmaker (Pty) Ltd is expected to result in a major increase in Leatt Corporation's current production capacity, thereby enabling the Company to meet sudden or anticipated future demand for its products, whilst maintaining the strict manufacturing requirements that have, to date, produced high-quality neck braces that were initially fabricated at the Company's South African production facilities.
"The initial impact of this move was a delay in the availability and the full scale launch of the retail product", said Dr. Chris Leatt, President and Chief Executive Officer of the Leatt Corporation. "However," he added, "the move was necessary in light of a much higher market interest in the product than we had originally anticipated. And now, having completed the transition of production from South Africa to Taiwan/China the company is in a position to begin to fill the product orders from individuals as well as our industry distributors and partners since the product was introduced to the international marketplace last year."
About The Leatt Corporation: The Leatt Corporation is the exclusive global distributor of the Leatt-BraceT, a Neck Brace designed to prevent or lessen the severity of potentially devastating motor sport injuries to the cervical spine (neck). The company's operations and research and development of the core products currently take place at the Leatt Corporation's offices in Cape Town, South Africa.
For more information on the Leatt-BraceT, please visit the company website at www.leatt-brace.com. For more information on Playmaker, please visit the company website at www.playmaker.com.tw. The aforementioned Web Sites are not incorporated into or part of this press release.
Legal Notice Regarding Forward-Looking Statements: This press release may contain forward-looking statements, which are based on the Company\'s current expectations, forecasts and assumptions. In some cases forward-looking statements may be identified by forward-looking words like \"would,\" \"intend,\" \"hope,\" \"will,\" \"may,\" \"should,\" \"expect,\" \"anticipate,\" \"believe,\" \"estimate,\" \"predict,\" \"continue,\" or similar words. Forward-looking statements involve risks and uncertainties which could cause actual outcomes and results to differ materially from the Company\'s expectations, forecasts and assumptions. These risks and uncertainties include risks and uncertainties not in the control of the Company, including, without limitation, the current economic climate and other risks and uncertainties, the limited resources of the Company and resulting vulnerability of the Company and its products to domestic and international competitors with considerably greater resources than the Company and possible inability to establish market share against competing products in many markets, current limited distribution channels for the Company's products, actions of our competitors, the limited cash flow of the Company and the resulting reliance on the sale of Company securities to finance operations, the extent to which affects our ability to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our products, and changes in our business strategies. The increase in production capabilities for Company products is not an indication of future product order volumes or ongoing market response to our products. The Company's common stock is traded on the Pink Sheet system and the Company is a "penny stock company" as defined under the rules of the Securities Exchange Act of 1934, as amended. As such, there are additional, substantial risks associated with the Company and its securities. Such risks include limited liquidity of the Company's common stock and limitations on ability of broker-dealers to trade or recommend such stock.
Investor Relations: Please contact corp@leatt-brace.com or call +1 (831) 306-6117.
2022
