George Foreman Enterprises Inks First Deal, Builds Momentum Toward Creation of Lifestyle Brand
02 December 2005 - 1:00AM
PR Newswire (US)
Company Enters Into Agreement with Circle Group Holdings to Promote
& Market Z-Trim(R), a Zero Calorie Fat Substitute LAS VEGAS,
Dec. 1 /PRNewswire-FirstCall/ -- George Foreman Enterprises, Inc.
(OTC:GFME.OB) (BULLETIN BOARD: GFME.OB) , the lifestyle brand
company launched to harness and leverage the George Foreman brand
name, today announced a new venture with Circle Group Holdings,
Inc. (AMEX:CXN) to promote and market their Z-Trim(R) zero calorie
fat replacement ingredient to major food companies, QSR and
restaurant franchises, the health and wellness community and the
consumer market. The transaction is the first venture announced
since the launch of George Foreman Enterprises, Inc. last August.
"We created George Foreman Enterprises, Inc. to build a lifestyle
brand that harnesses the power of the George Foreman name," said
George Foreman, Co-Chairman of George Foreman Enterprises. "The
agreement with Circle Group is the perfect way to kick start our
new venture as this deal will help us begin to actualize our vision
of creating a lifestyle brand empire based on health, fitness,
quality and the embodiment of the American dream. Z-Trim is
designed to help people lead healthier, more active lives, and that
is exactly what George Foreman Enterprises was created to do. As
everyone knows, I love to find terrific products that everyone
doesn't know about just yet. Z-Trim is my new secret, and I am
looking forward to working toward turning it into another national
treasure." Z-Trim, which was developed by Dr. George Inglett, a
leading scientist at the Department of Agriculture, and then
exclusively licensed by the U.S. government to Circle Group, is a
natural zero calorie fat-substitute made from the hulls of corn,
oats, soy, rice, barley. The product lowers 25% to 50% of calories
and fats in most foods without negatively affecting taste or
texture. "After years of research and development, we have
unquestionably proven that Z-Trim(R) can substantially reduce
harmful Trans and saturated fats and add healthy insoluble and
soluble dietary fiber which can be beneficial to heart patients and
diabetics," commented Dr. Inglett. "As our nation's obesity crisis
continues to mount, we believe Z-Trim can be a powerful tool in
helping people to lead more healthy lifestyles, particularly as the
product can improve digestion without any of the negative side
effects sometimes associated with other fat substitutes." Z-Trim,
which is being marketed as both an ingredient brand to major food
companies and restaurants, as well as a product sold directly to
consumers, is anticipated to receive a welcome response from both
key audiences as it generally can't be detected when formulated
correctly in dairy, dressings, dips, sauces, baked goods, processed
meats, snack foods, cookies, pies, cakes, icings, brownies, bars,
ice cream, milk shakes and many other foods. "With an unprecedented
track record of successful salesmanship, we are honored that George
and George Foreman Enterprises have chosen to help bring Z-Trim to
the public consciousness, with the ultimate goal of improving the
health of people everywhere over time," said Greg Halpern, CEO of
Circle Group Holdings. "This is sure to be a welcome addition to
the current ingredient brands available to the major restaurants
and food companies, and a terrific zero fat product option for
consumers, particularly as our nation continues to struggle with
its expanding waistline." Highlights of the new venture include: --
George Foreman Enterprises and Circle Group Holdings will form a
jointly owned limited liability company for the specific purpose of
promoting Z-Trim. This LLC will have the rights to use George
Foreman's name and likeness to promote Z-Trim. -- George Foreman
Enterprises shall have the right, subject to Circle Group Holdings'
shareholder approval, after performing certain marketing and media
activities, to convert its interest in the LLC into up to 50% of
the then outstanding shares of Circle Group Holdings. -- The
venture contemplates a targeted and intensive media campaign,
spearheaded by George Foreman, including multiple print media,
national network, cable television, and radio appearances. --
George Foreman has a personal policy of only endorsing products
that he strongly believes are highly beneficial to the public. In
line with this policy, and owing to George's strong personal belief
that Z-Trim is the right product at the right time, the agreement
is an equity- based partnership rather than a straight cash
endorsement deal. About George Foreman Enterprises, Inc. In August
2005, George Foreman Enterprises, Inc. entered into a series of
definitive agreements with former world heavyweight boxing champion
George Foreman allowing the company exclusive future use of his
name, likeness, and personal services through the assignment of his
intellectual property. The company is designed to leverage the
assets of one of the most powerful celebrity athlete brands of all
time. George Foreman Enterprises, Inc. will exclusively handle all
future business developments related to new uses of George
Foreman's intellectual property and prospective licensing
agreements. See also http://ztrim.com/gfme.html. The company seeks
to maximize the George Foreman name through licensing, join
ventures and/or the acquisition of operating companies. Prior to
August 2005, George Foreman Enterprises was known as Musicmaker.com
and then MM Companies. About Circle Group Holdings, Inc. Circle
Group Holdings, Inc. ( http://crgq.com/ ) is a pioneer of emerging
technology companies. Circle Group Holdings provides small business
infrastructure, funding and substantial intellectual capital to
bring important and timely life-changing technologies to market
through all early phases of the commercialization process. FiberGel
Technologies, a wholly owned subsidiary of Circle Group Holdings,
owns the worldwide rights to Z-Trim for all fields of use. Invented
over many years by Outstanding Senior Research Scientist Dr. George
Inglett at the United States Department of Agriculture, Z-Trim is
protected by three issued U.S. and International patents with more
than 54 additional patents pending. Circle Group Holdings' press
releases are available at
http://www.crgq.com/HTML/breakingNews.html About Z-Trim(R) Z-Trim
is a natural zero calorie fat-substitute made from the hulls of
corn, oats, soy, rice, barley that lowers 25% to 50% of calories
from fats in most foods without negatively affecting taste or
texture. Z-Trim generally can't be detected by consumers when
formulated correctly in dairy, dressings, dips, sauces, baked
goods, processed meats, snack foods, cookies, pies, cakes, icings,
brownies, bars, ice cream, milk shakes and many other foods. It
improves texture significantly; makes meats juicier, baked goods
moister, dips creamier. Z-Trim lets you to eat more of the foods
you love without fear of weight gain and allows you to lose weight
without giving up the foods you love. Z-Trim adopts the flavor and
mouth feel of most recipes and reduces aftertaste in most foods. It
has been proven in studies that a majority of consumers prefer
Z-Trim foods over their full-fat counterparts. Z-Trim can
substantially reduce harmful Trans and saturated fats and adds
healthy insoluble and soluble dietary fiber which can be beneficial
to heart patients and diabetics. Z-Trim can improve digestion
without any negative side effects sometimes associated with other
fat substitutes. Z-Trim has been featured on Fox News "Your World
w/ Neil Cavuto"; USA Today, Chicago Tribune, as well as local
affiliates of NBC, FOX and CBS. Contact: Media Relations: Andrew
Bard 212-445-8368 Investor Relations: Efrem Gerszberg 732-993-1280
DATASOURCE: George Foreman Enterprises, Inc. CONTACT: Media
Relations: Andrew Bard, +1-212-445-8368, , for George Foreman
Enterprises, Inc.; or Investor Relations: Efrem Gerszberg of George
Foreman Enterprises, Inc., +1-732-993-1280, Web site: /Web site:
http://ztrim.com/gfme.html http://crgq.com/
http://www.crgq.com/HTML/breakingNews.html
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