DELRAY BEACH, Fla., Nov. 11 Hydron Technologies,Inc. (OTC Bulletin Board: HTEC) announced today that it has entered in toagreement with Brand Builders International, LLC, a private marketing firm, toform a join venture called Brand Builders Rx, LLC.
Hydron Technologies has been developing products for healthcareprofessionals for over 50 years. Hydron introduced the only non-occlusivepolymer that binds moisture and other ingredients to the skin, while allowingthe skin to breathe. This technology is used by various companies in softcontact lenses, burn and wound dressings, topical drug delivery andsubcutaneous implants that deliver cancer treating drugs and more. Hydron hasalso been awarded a patent on the first volatile emulsifier that allowsproducts to self-adjust to each individual.
Brand Builders International was founded by Ilonka Harezi, the drivingforce behind Teslar Technology and the world famous Philip Stein Teslarwatches. These watches were selected twice as one of Oprah Winfrey's top tenfavorite gifts and generated over $97 million in retail sales in 2007. Today,Brand Builders International leverages Ms. Harezi's experience in sales andmarketing to help companies build distribution domestically and globally.
The new Joint Venture, Brand Builders Rx, will combine the expertise ofthe two entities for the re-positioning and re-launching of the Hydron namedbrands, utilizing the marketing and distribution expertise of Ilonka Harezi,her success with the Teslar brand and her Brand Builders International team.The Joint Venture expects to build brand awareness and increase distributionduring the first two years, with a projected profit expected in year three.
Under the terms of the Agreement, Hydron will contribute substantially allof its operating assets and license to the Joint Venture the patentedtechnologies, while Brand Builders International will contribute cash,financing, new headquarters and marketing expertise, including publicrelations, filming of television commercials, print media and the building ofa sales rep force in the United States and internationally.
"There is no other skin care line in the world like it. The technology isamazing. The synergies will allow us to really focus in and build somethingreally major," states Ilonka Harezi, President of the new Joint Venture.
David Pollock, current CEO of Hydron Technologies, is expected to join thenew Joint Venture at the close of this transaction in order to facilitate thetransition of key creative and sales support, as well as to continue todevelop new product opportunities.
Certain statements in this news release may contain forward-lookinginformation within the meaning of Rule 175 under the Securities Act of 1933and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject tothe Safe Harbor created by those rules. All statements, other than statementsof fact, included in this release, including, without limitation, statementsregarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be noassurance that such statements will prove to be accurate and actual resultsand future events could differ materially from those anticipated in suchstatements. Events that may arise could prevent the implementation of anystrategically significant plan(s) outlined above. The Company cautions thatthese forward-looking statements are further qualified by other factorsincluding, but not limited to, those set forth in the Company's Form 10-KSBfiling, its registration statements and other filings with the United StatesSecurities and Exchange Commission (available at www.sec.gov). The Companyundertakes no obligation to publicly update or revise any statements in thisrelease, whether as a result of new information, future events or otherwise.
SOURCE Hydron Technologies, Inc.