| San
Clemente, CA. (BUSINESS WIRE), The PowerSki Jetboard™ is
set and ready for mass production. Through a new partnership with
PowerSki Global Ltd., financing facilities and additional management
support for undertaking large-scale production is in place. Over
$10 million US dollars will be advanced to this project based on letters
of credit and secured orders of the PowerSki Jetboard™.
The consumer interest in the PowerSki Jetboard™ is high.
Based on projected Powerski Jetboard™ demand, production
is expected to reach 6,000 units within the next fourteen months
and grow steadily for the next several years. Primary production
facilities in San Clemente, California could be operational by
June, followed by a second assembly facility in Edmonton, Canada
which could be operational by July. The production plan is to
start modestly at 50 PowerSki Jetboards™ in the first 30
days and could reach 500 units per month by the end of October
for a cumulative total of over 1000 units. About 2500 PowerSki
Jetboards™ could be assembled before the end of the calendar
year.
Final testing of engines,
electrical systems and components are being completed at this
time. As part of this process, advanced delivery of four SuperTorque
XT™ Marine Engines have arrived at the San Clemente
facility and are expected to undergo rigorous testing. 12,000
engines have been ordered from Daesung Fine Tec, Korea to meet
the production schedule that has been set for the next 24 months.
Purchase orders for nearly all other parts and components have
been issued. Hull manufacturing is in the final stages of production
readiness with 100 units being available before the end of June
and first part of July. The hull manufacturing plan is to have
the capacity to meet and, when necessary, exceed the 500 unit
per month target.
The PowerSki Jetboard™
assembly facilities will feature a world-class operation that
will coordinate closely with its vendors in order to meet its
production targets. The assembly facilities in San Clemente and
Edmonton will service both domestic and international markets.
Additional assembly facilities are being contemplated for other
jurisdictions in 2006.
More details regarding
the upcoming PowerSki Jetboard™ production launch will be
announced in the coming weeks. For more information, please contact
our main office in San Clemente at 949-369-3920.
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