Techlabs, Inc. to License Storm Depot Logo From Eline Entertainment and Commence Franchise Operations
May 14 2007 - 12:11PM
PR Newswire (US)
JENSEN BEACH, Fla., May 14 /PRNewswire-FirstCall/ -- Techlabs, Inc.
(OTC:TELA.PK) (BULLETIN BOARD: TELA.PK) today announced it had
reached an agreement in principle to license the Storm Depot
International name logo and related materials from Eline
Entertainment Group, Inc. (Pinksheets: EEGI). This agreement was an
important step by the Company towards the development of a business
strategy whereby Techlabs, Inc. through a wholly owned subsidiary,
will begin to market the Storm Depot concept through a franchise
system. Techlabs will market one of only two hurricane franchise
opportunities in the United States. The concept is expected to be
rolled out June 1, 2007 corresponding with the start of the 2007
Hurricane Season. Potential Franchisees are expected to encompass
the entire Gulf of Mexico region, Florida and the Carolinas. Storm
Depot International, Inc. a wholly owned subsidiary of Eline
Entertainment Group, will receive 1% of the franchise revenue fees
and will provide proprietary products to franchisees. The agreement
is the result of previous acquisition discussions. The Company
noted this arrangement, as opposed to an acquisition, offers much
more flexibility and opportunity to provide related value added
services not only to franchises but directly to the public through
other programs such as certification of storm preparation and
remediation vendor services not available through the franchisee.
The Company further noted that providing a single source of
reliable information through the entire cycle of storm preparation
and remediation is a much sought after element before and after
"the eye of the storm". No other terms of the agreement were
disclosed. Techlabs is a developer of emerging businesses. The
Company's primary focus is centered on developing business
opportunities in the Caribbean basin and South America. For further
information regarding the company, contact Techlabs, Inc. at (267)
350-9210. This press release contains forward-looking statements,
some of which may relate to Techlabs, Inc. and which involve
numerous risks and uncertainties. Actual results, performance or
achievements could differ materially from those anticipated in such
forward-looking statements as a result of certain factors,
including those set forth in Techlabs, Inc.'s filings with the
Securities and Exchange Commission. DATASOURCE: TechLabs, Inc.
CONTACT: Techlabs, Inc., +1-267-350-9210
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