SEBRING, Ohio -- Aug. 20, 2003 -- Marx Toys And Entertainment Corp. (OTCBB: MRXT), is pleased to announce it has received $1,000,000.00 in financing from Kimberly Investment Corp., North Brunswick for the production, development and distribution of its toy lines.
"The influx of funds allows Marx the freedom to stock a warehouse with toys rather than waiting on future purchase orders prior to manufacturing units," states Steve Wise, CEO.
The investment agreement is based on product sales and will not result in any dilution of company stock.
Marx has set goals to sell a minimum of 1 million units before year's end. The company feels confident in its ability to regain a portion of the $26 billion dollar toy market based on its brand recognition, key management, exciting toy line and reemerging while retro/classic toys are back in demand.
About Marx Toys And Entertainment Corp.
Marx Toys And Entertainment Corp. manufactures and markets interactive toys and reissued collectible toys, along with classic games, play sets and ride along toys. Marx's vintage originals are highly collectible amongst hobby enthusiasts. Marx branded toys are sold at more than 400 toy and hobby retailers across the U.S. and has a rich history dating back to 1928. To read more on this history, visit http://www.marxtoys.com. In late July, Marx Toys announced AZtor Corporation which the Company plans to form a separate subsidiary, yet integrate its software development for future integration into our new Toy line.
