Planet Resource Recovery (OTCMKTS:PRRY) was in the news yesterday, as the company provided an update on their MAX line of quad products. The Nevada-based company has been in the news lately following the success in its acquisition of MAXs line of ATVs. Yesterday, the company announced it was about to begin production again of MAX ATV vehicles. The vehicles were initially manufactured from 1969 to 2013 by the Recreatives Industries Inc in Buffalo, NY. The Company is also pleased to announce the appointment of Mr. Galen Reich as the President of Planet Resource Recovery, Inc. Mr. Reich served as the General Manager and Marketing Director of Recreatives Industries Inc. in Buffalo from 1993-2013, and continued to operate MAX ATVs under their new ownership in 2013-2015.
The Company will manufacture MAXs line of ATVs, as well as MAXs Factory Original parts and accessories. Planet Resource Recovery, Inc. plans to restart MAX parts and accessories for the current MAX Vehicles market, as the Company begins its reintroduction process for the MAX quads in the ATV market. Planet Resource Recovery is gearing up to begin production again of MAX ATVs, originally manufactured by Recreatives Industries Inc., PRRY will be capitalizing on MAXs 52-year brand heritage, along with proven product designs embedded within all the intellectual properties developed over decades, now exclusively owned by PRRY.
The company will build upon MAXs 52-year-old model legacy as well as the proven product design embedded in all the intellectual property developed over years and now exclusive to PRRY. Once supply and assembly-line infrastructure as well as the Gross Sales Channel are revived and developed for MAXs quad production lines, PRRY has a forward-looking plan to diversify its product portfolio, investing heavily in analytics and center development in order to bring reasonable-priced new vehicles and equipment to market within a compressed timeframe.
The Company is gearing up for resumption of MAX atv production, originally manufactured by Recreatives Industries Inc. The Companys new MAX parts site, to be launched shortly, will establish PRRY firmly as an official source of authentic OEM MAX parts and accessories. The Companys first focus is relaunching its MAX Recreational/Light Utility ATV product lines, aiming to help re-establish a supply chain that is faster to be accepted within the larger Global ATV Industry.
In addition to the risks discussed in the Companys press releases, filings with the SEC, and statements made by PRRYs management, including, without limitation, PRRYs assessment of the sufficiency of its existing capital resources, PRRYs ability to raise additional capital to finance future operations, PRRYs ability to repay existing debt, uncertainties associated with the estimation of market opportunities, and in the identification of contracts that are appropriate for awarding contracts that are appropriate for PRRYs capabilities.