WILMINGTON, DE -- 11/04/09 --
Universal Capital Management, Inc. (OTCBB: UCMT), a Wilmington, Delaware business development company that provides
management and strategic growth resources to emerging growth companies, is
pleased to announce the addition of Innovation Industries to its portfolio.
Innovation Industries has a lengthy and impressive history of developing
and marketing exceptional consumer products and is a leader in fitness and
exercise equipment products. The company's Founder and President, William
Wilkinson, is the leading inventor of fitness/exercise equipment and holds
over 200 domestic and foreign patents.
Mr. Wilkinson is the inventor of Step
aerobics/aerobic steps and co-founder of Step Reebok, which started the
modern fitness movement. He was also the lead developer of products for
Nordic Track and invented Total Body/dual action exercise machines
popularized in the mid 90s. In addition, he co-developed, with National
Media of Philadelphia, PA, the Bruce Jenner line of fitness equipment which
included the PowerWalk Plus treadmill.
GetaGrip(TM) is
his latest invention, a first-to-market game changer with virtually no
competition in today's marketplace for a total hand/grip, wrists and
forearm workout. Not only does the product fall within an industry that
has proven to be recession-resistant -- the fitness industry, but it is
also endorsed by the Chief Surgeon at the National Hand Center and A-list
celebrities.
"Everyone who tries GetaGrip(TM) feels it working right away," says Michael
Queen, CEO of Universal. "This product is a blockbuster, and we are
pleased to be working with Will and Innovation Industries to assist in
bringing GetaGrip(TM) to market. Due to the way we have structured our
contract we believe this arrangement will enhance Universal's cash flow and
create additional pools of investment cash."
About Universal Capital Management, Inc.
Universal Capital Management, Inc. is a publicly traded business
development company under the Investment Act of 1940. Its purpose is to
provide an opportunity for its shareholders to diversify risk by investing
in a fund that assists its portfolio companies to grow and increase in
value. Please refer to the company's website at http://www.unicapman.com
Forward-Looking Statements:
Certain matters discussed in this press release are "forward-looking
statements." These forward-looking statements can generally be identified
as such because the context of the statement will include words, such as
Universal Capital Management, Inc. "expects," "should," "believes,"
"anticipates" or words of similar import. Similarly, statements that
describe UCM's future plans, objectives or goals are also forward-looking
statements. Such forward-looking statements are subject to certain risks
and uncertainties, including the financial performance of UCM and the
valuation of UCM's investment portfolio, which could cause actual results
to differ materially from those currently anticipated. Although UCM
believes the expectations reflected in any forward-looking statements are
based on reasonable assumptions, they cannot give any assurance that their
expectations will be attained. Shareholders, potential investors and other
readers are urged to consider these factors carefully in evaluating any
forward-looking statements. Certain factors could cause results and
conditions to differ materially from those projected in these
forward-looking statements. New factors, risks and uncertainties may emerge
from time to time that may affect the forward-looking statements made
herein. These forward-looking statements are only made as of the date of
this press release and UCM does not undertake any obligation to publicly
update such forward-looking statements to reflect subsequent events or
circumstances.
Contact:
Julie Malewski
(302) 998-8824
E-mail: Email Contact
