| Business Summary | | TRSG
Corporation,
formerly
Professional
Wrestling
Alliance
Corporation,
acquired
the
bulk
of
Gateway
Distributors
Ltd.'s
(Gateway)
assets
and
its
operating
business,
in
an
agreement
that
closed
on
January
10,
2001.
Under
the
agreement,
TRSG
has
become
a
more
than
80%-owned
subsidiary
of
Gateway.
The
Company,
which
had
discontinued
its
operations
in
July
of
2000,
had
attempted
to
identify
and
acquire
a
favorable
business
opportunity.
On
October
12,
2000,
the
Company
entered
into
an
Acquisition
Agreement
with
Gateway.
Gateway
is
a
network
marketing
company
that
does
business
under
the
name
The
Right
Solution.
Gateway
sells
nutritional,
health
and
dietary
supplements
and
products
throughout
North
America
and
Japan.
The
Agreement
transfers
to
the
Company
the
business
and
goodwill
of
The
Right
Solution,
which
consists
of
existing
inventory
and
an
existing
networking
distribution
business. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | TRSG
Corp.,
through
its
subsidiary,
Gateway
Distributors
Ltd.,
sells
health,
nutritional
and
dietary
supplements
and
products
througout
North
America
and
Japan.
For
the
six
months
ended
6/30/01,
sales
rose
from
$0
thousand
to
$1.1
million.
Net
income
totaled
$113
thousand
vs.
a
loss
of
$85
thousand.
Revenues
reflect
the
acquisition
of
Gateway
Distributors
Ltd.
Net
income
reflects
a
$569
thousand
gain
on
the
settlement
of
debt. | More
from
Market Guide: Significant
Developments |
| | |
| Position | Richard Bailey, 43 | Pres,
CEO, Director |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
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