OurPet’s Company Overview

OurPet’s Company (OurPet’s) began operations in 1995 with the philosophy of combining “high tech” engineering expertise related to materials and manufacturing with a “high touch” approach to pet health, behavior and nutrition, as well as pet owners themselves, to develop and market proprietary, innovative, quality, affordably priced products for improving the health, safety, comfort and enjoyment of pets. OurPet’s products are not only aesthetically pleasing but also functionally beneficial to pets. OurPet's dynamic innovation and high quality enable our retail partners to upgrade their pet product offering while realizing above average sales and profits.

OurPet's first product, the “Big Dog Feeder,” was introduced to the market in 1995. The Big Dog Feeder provides a healthier, more comfortable feeding position for larger breed dogs. It was an instant success, achieving record sales in the Sky Mall airline magazine, and at PetsMart.

Since then, OurPet’s has been working to establish a strong brand identity and consumer preference for our products while developing a foundation for future growth:

• Net revenues for 2007 increased 11.9 percent to $10,561,204 from $9,441,697 last year. Net income for 2007 was $186,886 compared to $560,925 for 2006.  Net income for 2007 includes litigation expenses, associated with the SmartScoop® lawsuit filed by our competitor Applica/LitterMaid™, of $182,381.  Net income for 2006 includes the extraordinary item gain from the forgiveness of debt of $87,500.  Income before these items was $369,267 for 2007, compared to $473,425 for 2006.

• Product Offerings: OurPet's offers approximately 300 exciting proprietary products specifically related to healthy feeding systems, interactive toys, healthy consumables and cat and dog maintenance products. OurPet’s has been granted 33 U.S. patents and an additional 60 are pending. OurPet’s has also obtained 24 trademarks and has another 14 pending. Through its aggressive product development efforts, OurPet’s hopes to continually introduce dozens of new, exciting products each year.

• Marketing Channels: OurPet’s has built an extensive domestic and international marketing network that allows a growing number of products to be sold at continually improving economies of scale. The company’s products are marketed through pet specialty distributors and retail chains such as PetSmart and Petco, grocery chains such as Safeway, Publix and Stop-N-Shop, mass retailers such as Wal-Mart and Kmart, catalogs such as Drs. Foster & Smith, and E-commerce websites. Overseas sales in the United Kingdom, Europe, Japan, Hong Kong, Australia, etc. are through local, independent representatives/distributors.

• Management Informational Systems and Controls: MIS systems have been implemented and EDI capabilities have been established with key accounts. This is very important as major retailers are quickly moving toward paperless transactions – from order placement and confirmation to invoice payment.

• Company Expansion: In spite of continued soft retail sales, net revenues for the first quarter 2008 increased 12.5 percent to $2,905,264 from $2,583,370 for the same period in 2007. The Marketing/Sales department was further strengthened with the addition of a Sales Account Manager and a Market Channel/Promotions Manager. We expect a major revenue contribution from these key people as the year progresses.

The OurPet’s Team currently consists of 23 full-time employees, 50 percent have college degrees. The company’s President and Founder, Dr. Steven Tsengas, BS Engineering, MS Business/Behavioral Sciences, Ph.D. Natural Health/Nutrition, has successfully launched over half a dozen companies. Dr. Tsengas has extensive technical knowledge related to pet nutrition, behavior and geriatrics as well as advanced materials and manufacturing processes. OurPet’s has a well balanced, professional team in terms of skills and experience; e.g. marketing and sales, finance, product development and manufacturing/distribution.

In order to effectively handle the anticipated rapid revenue growth and achieve consistent profitability and high return-on-investment (ROI), OurPet’s’ dynamic organization focuses on product development, marketing and distribution and subcontracts its manufacturing operation and various other activities to strategic partners throughout the world. This strategy allows OurPet’s to focus on solving problems and taking timely advantage of opportunities without developing "tunnel vision." OurPet's makes best use of expertise available throughout the world and realizes a higher ROI by making a concerted effort to not commit its limited financial resources to purchasing buildings and other capital equipment with long payback periods.

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