Universal Capital Management acquires Innovation Industries

Nov 4 2009

Universal Capital Management, Inc. (OTCBB: UCMT), a Wilmington, Delaware business development company that provides management and strategic growth resources to emerging growth companies, is pleased to announce the addition of Innovation Industries to its portfolio.

Innovation Industries has a lengthy and impressive history of developing and marketing exceptional consumer products and is a leader in fitness and exercise equipment products. The company's Founder and President, William Wilkinson, is the leading inventor of fitness/exercise equipment and holds over 200 domestic and foreign patents.

Mr. Wilkinson is the inventor of Step aerobics/aerobic steps and co-founder of Step Reebok, which started the modern fitness movement. He was also the lead developer of products for Nordic Track and invented Total Body/dual action exercise machines popularized in the mid 90s. In addition, he co-developed, with National Media of Philadelphia, PA, the Bruce Jenner line of fitness equipment which included the PowerWalk Plus treadmill.

GetaGrip™ is his latest invention, a first-to-market game changer with virtually no competition in today's marketplace for a total hand/grip, wrists and forearm workout. Not only does the product fall within an industry that has proven to be recession-resistant -- the fitness industry, but it is also endorsed by the Chief Surgeon at the National Hand Center and A-list celebrities.

"Everyone who tries GetaGrip™ feels it working right away," says Michael Queen, CEO of Universal. "This product is a blockbuster, and we are pleased to be working with Will and Innovation Industries to assist in bringing GetaGrip™ to market. Due to the way we've structured our contract we believe this arrangement will enhance Universal's cash flow and create additional pools of investment cash."