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-Company Announces 16th Store Opening-
NEWARK, Del., Oct. 3 /PRNewswire-FirstCall/ -- Theater Xtreme Entertainment Group, Inc., a nationwide seller and installer of real movie theaters for the home, has opened its newest franchise in Draper, Utah, a neighboring suburb of Salt Lake City. The design center, which opened on October 3, is operated by Tyler Compton, who also operates Theater Xtreme of Boise, Idaho.
Said Theater Xtreme CEO Scott Oglum: "Given Tyler Compton's experience operating the Boise store, we are confident in his ability to lead the new store and attract customers seeking affordable, real movie theaters for their homes."
Mr. Compton added, "From my experience in operating the Boise store, I have seen tremendous consumer demand for real movie theaters for the home. I expect our customers in Draper to have the same, positive reaction to our products and store design that our customers in Boise have. Draper has experienced dramatic growth in the past several years and is home to some exciting retailers. We believe that Theater Xtreme's distinguishing store concept will be well-received in this thriving suburb, and that we will enjoy a first-mover advantage in our unique category."
Theater Xtreme of Draper is located at 241 E. 12300 South, Suite 2, Draper, UT 84020. For more information about this and other Theater Xtreme locations, visit http://www.theaterxtreme.com.
To be added to Theatre Xtreme's investor contact list, please contact Justin Schakelman at jschakelman@theaterxtreme.com.
About Theater Xtreme Entertainment Group, Inc.
Theater Xtreme Entertainment Group, Inc. (OTC Bulletin Board: TXEG - News) is a specialty retailer of real movie theaters for the home. The Company's 80" to 120" front projection systems deliver an authentic movie theater experience, as an increasingly popular alternative to flat panel televisions. Its cinema packages, featuring brand names and factory direct products, are simple to use and cost significantly less than traditional A/V dealer offerings. With package-focused merchandising and fast installation, the Company makes it easy to own a complete theater. It operates 5 company owned stores and 9 franchises in 10 states.
Safe Harbor Statement
Some of the information presented in this letter constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the Company's judgment regarding future events, and are based on currently available information. Although the Company believes it has a reasonable basis for these forward-looking statements, the Company cannot guarantee their accuracy and actual results may differ materially from those the Company anticipated due to a number of known and unknown uncertainties, of which the Company is not aware. Factors which could cause actual results to differ from expectations include, among others, the ability of the Company to sell franchises, success of the franchise stores, the ability to find suitable locations for new corporate and franchise stores, delay or loss of key products from vendors, the ability to maintain margin and sales growth rate, disruption of product delivery from overseas suppliers, changes in regard to significant suppliers, increased competition from companies with more expertise, experience, or financial resources, technological changes in the home theater market which may render the Company's offerings obsolete, less competitive, or too expensive, material reduction in the demand for home theaters, and lack of sufficient capital to allow the Company to achieve its corporate store opening goal. For additional information concerning these and other important factors that may cause the Company's actual results to differ materially from expectations and underlying assumptions, please refer to the reports filed by the Company with the Securities and Exchange Commission available at www.sec.gov.
Contacts:
Investor & Media:
The Investor Relations Group
Katrine Winther-Olesen
212-825-3210
katrine@investorrelationsgroup.com
Mike Graff/Susan Morgenbesser
212-825-3210
mgraff@investorrelationsgroup.com
susan@investorrelationsgroup.com
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