PHILLIPSBURG, N.J., June 18, 2018 (GLOBE NEWSWIRE) — Xspand Products Lab, Inc. (Nasdaq:XSPL) (“Xspand”), a full-service product development company, today announced that is has begun development of a new line of interactive light-up consumer products for theme park and entertainment venue markets.
The line of interactive light-up consumer products will include wands, swords, necklaces, headwear and other role-play items. Consumer A can purchase a wand and choose blue and then “throw” that color to Consumer B wearing a necklace. Additionally, each item will have the ability to “read” colors, as color readers embedded in each item will allow the consumer to place it against a surface and replicate that color. As a role play item and an entertainment venue item, this technology offers endless possibilities for interactive play patterns.
“Theme parks are always looking for new ways to enhance the customer experience and create an interactive, immersive environment for their patrons,” said Chris Ferguson, Chief Executive Officer of Xspand Products Lab. “With our new line of interactive light-up consumer products, theme park patrons will be able to interact with each other like never before, allowing any entertainment venue or gathering to become a vibrant and imaginative parade of color.
“The light up category has been a rewarding category for Xspand. Our patented light chaser that we launched more than twenty years ago has been and continues to be one of the company’s most successful items. We are truly excited to bring this magical experience to our theme park and entertainment venue partners worldwide,” concluded Ferguson.
About Xspand Products Lab, Inc.
Xspand Products Lab, Inc. is a vertically integrated and full-service product development and manufacturing company, including design, sales, fulfillment and shipping. Xspand’s model is to provide a risk mitigated platform that connects innovators with companies to bring new products to market. For more information, please visit www.xspandproductslab.com.
This press release contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations and plans, including assumptions underlying such statements, are forward-looking statements, and should not be relied upon as representing Xspand’s views as of any subsequent date. Examples of such statements include statements regarding the strength of Xspand’s operations and financial position for 2018, anticipated cash resources for continued operations, sales of Xspand’s products, enhancement of Xspand’s marketing efforts, the impact of Xspand’s portfolio development strategy, planned regulatory submissions and potential approvals, anticipated product launches, the potential benefits of Xspand’s products, Xspand’s efforts with respect to marketing in U.S. and international markets, and results of potential third-party collaborations. Such forward-looking statements are based on information available to Xspand as of the date of this release and involve a number of risks and uncertainties, some beyond Xspand’s control, that could cause actual results to differ materially from those anticipated by these forward-looking statements, including consumer, regulatory and other factors affecting demand for Xspand’s products, any difficulty in marketing Xspand’s products in global markets, competition in the market for consumer products, any inability to raise capital to fund operations and service Xspand’s debt. Additional information that could lead to material changes in Xspand’s performance is contained in its filings with the SEC. Xspand is under no obligation to, and expressly disclaims any responsibility to, update or alter forward-looking statements contained in this release, whether as a result of new information, future events or otherwise.
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