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Hybred International Issues Corporate Update
Business Wire, May 21, 2008
Three Key Industry Experts Named to Board of Advisors
HACKENSACK, N.J. -- Hybred International, Inc. (Hybred Horseshoe or The Company) (OTC: HYII) today released a shareholder update on corporate activities, such as the release of its new web site (www.hybredhorseshoe.com) and the additions of three key industry experts to its Board of Advisors.
"Within the equestrian industry, unfortunate recent losses and injuries opened the door for a broader discussion on the need for a greater investment in preventative measure products needed to address the subject of hoof care and lameness," said Gary Kouletas, Founder and President, Hybred International, Inc. "Due to the fact that company has received a lot of attention arising from to recent industry events, the company prepared the following corporate update for shareholders and members of the press and investment communities."
Hybred International, Inc. is not new to the hoof care field. The company was founded in 2005 and became a publicly traded company earlier in Q1 2008.
The Company believes it successfully created the next-generation therapeutic horseshoe and is pleased to make the following announcements.
Hybred International Inc Corporate Update:
Corporate Web Site:
The company recently released the initial version of its web site, www.hybredhorseshoe.com. The site currently provides essential information about the product and the company. Additional features and sections will be released later at a later time.
Board of Advisors:
The company has named the first three industry experts to its Board of Advisors.
* Ian McKinlay, the leading authority in hoof lameness and farrier to Kentucky Derby and Preakness Stakes winner Big Brown;
* Mike Wildenstein, inductee into the Farrier Hall of Fame and Cornell University Professor; and
* Jorge Velasquez, Hall of Fame jockey.
These industry professionals will represent the Hybred Horseshoe at hoof care summits, farrier conventions and dealer shows throughout the world.
About the Hybred Horseshoe:
The Hybred Horseshoe was created to address the number one problem in the equine industry - hoof injuries which account for nearly 90% of all potentially serious and often detrimental injuries to horses employed in all sectors of the equestrian market.
The Hybred Horseshoe is comprised of a polyurethane molding which once attached to an aluminum horse shoe thus becomes a shock absorber and protects the horse's hooves and joints from deterioration caused by running on hard surfaces such as concrete, asphalt and race tracks. In addition, its design features enable the farrier the use traditional shoeing methods.
Primary Marketing Partner:
The Company has signed an agreement with Thoro'bred, the world's largest manufacturer of horseshoes. Under the terms of the agreement, Thoro'bred will manufacture, market and distribute the Hybred Horseshoe and market the product through its well-established world-wide distribution network.
About the Equine Industry:
The equine industry is approximately a $39 Billion industry according to a study published in 2005 by Deloitte Consulting LLP for the American Horse Council Foundation. Over 4.6 million people are engaged in the industry as horse owners, service providers, employees and volunteers; Tens of millions of other are spectators in equestrian events in one form or another.
The study also showed that the industry directly produces goods and services of $38.8 Billion, with a total impact of $101.5 Billion on the U.S. Gross Domestic Product.
About the Horse Shoe Market:
In the US alone, there are approximately 9 million horses that requiring shoeing each month. Considering that a shoeing is four horseshoes per horse each month for 9 million horses, the total horseshoe market in the United States is estimated at $432 million shoes per annum.
Based on the foregoing, the horse shoe industry, exclusive of any labor and tooling, is approximately $3.2 Billion a year.
There are more than 52 million horses outside the United States, thus representing a potential market opportunity of an additional $18.7 Billion.
Management Team:
Gary Kouletas, Founder and President
Mr. Kouletas has been engaged in entrepreneurial activities for more than ten years. After attending William Paterson University and Montclair University, he successfully founded and operated two real estate development corporations. Following his real estate development career, Mr. Kouletas joined International Surfacing, Inc., a research and development company where he developed the "Stealthshoe", the forerunner to the Hybred Horseshoe. Mr. Kouletas left International Surfacing in 2005, to organize Hybred International, Inc. and has since devoted all of his time and effort in developing the Hybred Horseshoe, which was successfully completed in 2006. Mr. Kouletas serves as the President and Chairman of the Board of Directors of the Company, and has personally funded all of the Company's expenses throughout its existence.