San West (SNWT) is a rapidly growing retailer of premier off-road recreational vehicles as well as a leading resource in the off-road recreational vehicle arena through aftermarket parts, accessories and its highly successful vehicle repair and maintenance center.
Products are sold via three divisions: at retail store locations, via the online store and through its growing dealer network.
The annual addressable market is estimated to be $31 Billion as off-roading and motor sports activities are becoming increasingly popular as new technology increases the affordability, and San West has created a one-stop-shop for vehicles, accessories, and service. This is an untapped, fragmented market that is ripe for a leader to emerge.
SNWT has combined distribution agreements with the most popular brands in the industry, including Joyner, Redline, and BMS, and a mix of proprietary value-added accessories to create a unique and compelling destination for buggy enthusiasts. The Company pairs well established retail and service centers in Southern California with websites and warehouses to maximize sales. San West has set the stage to become the most well-known and trusted name in the marketplace.
Third Quarter 2009 revenues increased 54.4% compared to Third Quarter 2008 and for the fourth quarter 2009 San West expects revenue to exceed $800,000, more than 3x the revenue generated in the third quarter 2009 or a 300% plus sequential increase.
SNWT Investor Highlights
Management expects to generate gross profits of at least $650,000 on net sales of approximately $2.1 million between January 1 and August 15, 2010 via e-commerce alone. This projection represents a significant increase over previously announced online revenue forecasts for Spring 2010 of approximately $450,000.
Brick & Mortar sales at the Buggy World retail center, are on track to meet or exceed management's previous 2010 revenue guidance of between $6,000,000 and $8,000,000.
Preliminary year-to-date 2010 sales data exhibits growth of nearly 35% over CountyImports.com record 2008, in which the business generated more than $3,200,000.
Announced the opening of a new Buggy World retail location in heart of the Southern California desert. Under the terms of the agreement Joy Ride USA will sell Buggy World products, such as off-road vehicles, vehicle parts and accessories at its store which is situated in one of the region's most popular off-road recreation locations.
Announced that fourth quarter 2009 will by far be the greatest in corporate history.
Announced that Internet sales for the four-week period ended 12/17/09 totaled approximately $175,000.
Announced that it has entered into an Investment Agreement for a $10 million equity line of credit with Dutchess Opportunity Fund, II, LP. This arrangement gives San West and its subsidiaries access to growth capital, enabling them to accelerate their growth strategy and implement additional marketing initiatives to take full advantage of the increasing demand for personal motorsports vehicles, parts, services and accessories.
Announced the launch of a parts division, the launch adds yet another revenue stream to CountyImports.com and San West, as the Company is now poised to become the leader in the online distribution of parts and accessories to off-road motorsports enthusiasts around the world.
On average, buggy owners spend approximately $5,000 in accessories for each buggy purchased, and San West expects to generate higher than average profit margins on parts when compared to other existing revenue streams.
SNWT has more than 60,000 parts in stock at all times and new parts are added daily.
SNWT is a direct import distribution and sales company. They are the top distributor for Hensim USA and have their own products warehoused in KS, CA, AZ, TX, GA, and NY.
Executed a 5 for 1 forward split in early November.
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