Wild Craze, Inc. Announces Completion of Asset Purchase for Crescent Moon Holdings Products
NEW YORK--(BUSINESS WIRE)-- Wild Craze, Inc. (the "Company") (OTCBB: WILD), an innovative consumer brands company, today announces that the Company has closed on an asset purchase to purchase toy related assets of Crescent Moon Holding, LLC d/b/a Wild Creations. The Company has formed a wholly owned subsidiary, Wild Creations, Inc., which will market the assets purchased today: EcoAquarium, E-Bird, Roll-Up Roads, Flipoutz, and HT Racer. Crescent Moon Holdings, LLC's co-founders, Peter Gasca and Rhett Power, will be joining the Wild Creations, Inc, as CEO and CMO respectively.
The brands purchased from Crescent Moon Holdings, Inc. have won over 40 national awards for their innovative products including 2011 and 2012 Inc Magazine's 500 Fastest Growing Companies and have been featured on CNN Money, Fortune, Parenting Magazine, Good Morning America, the Today Show, Regis and Kelley and many more national and regional media. Peter Gasca and Rhett Power were also nominated for Ernst & Young Entrepreneurs of the Year: 2011 and 2012. Crescent Moon Holdings, Inc. generated approximately $1.7M in gross revenue in 2011 (unaudited), with $630K in losses from operation and approximately $1.0M in gross revenue in 2012 (unaudited), with $230K in losses from operations.
The top selling product that was acquired is the unique EcoAquarium, that provides all the benefits of a large aquarium environment in a small, easy to maintain aquarium and ideal for homes, offices, schools, and dormitories. Other assets acquired today include products for retail sale stores across the United States and Canada including Flipoutz (which was featured on ABC's Shark Tank), Roll-Up Roads, HT Racer, and E-Bird. For more information on the Company's newly formed wholly owned subsidiary, Wild Creations, Inc., visit: http://www.youtube.com/watch?v=yNhvlbKdVCM. .
Justin Jarman, CEO of Wild Craze commented, "These unique and innovative products already have a branded presence in North America and we plan to take these great products and expand their footprint globally. We welcome Peter and Rhett to our team. Their inspiration and passion to create such exciting products for folks of all ages will provide the Company the opportunity to continue building a portfolio of products that have the potential to develop into household brand names."
"We are extremely excited about joining the WILD team and for the opportunity to support and grow Wild Creation's brands that this acquisition creates," said Mr. Gasca. "We have always had ambitious growth goals for our products, and the partnership with Wild Craze will help make them a reality as we bring them to the marketplace," commented Mr. Power.
About Wild Craze, Inc.
Wild Craze, Inc. is an innovative consumer brands company focused on strategic acquisitions of existing products or companies that have a proof of concept for a proprietary product and currently have revenues in the market. The Company looks to identify and acquire products and services that have an early sign of success, but may lack the necessary growth capital, professional network, or long term vision needed to ensure success on a large scale.
More information about the Company: www.wildcrazeinc.com
Statements in this press release relating to Wild Craze, Inc.'s future plans, expectations, beliefs, intentions and prospects are "forward-looking statements" and are subject to material risks and uncertainties. When used in this press release, the words "will," "future," "expect," "look forward to," similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of Wild Craze, Inc., that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur. A detailed discussion of these factors and other risks that affect Wild Craze, Inc.'s business is contained in its SEC filings, including its most recent reports on Form 10-Q, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or at www.wildcrazeinc.com.
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