VIASPACE Subsidiary Inter-Pacific Arts Increasing Sales, Expanding
Distribution of Framed Art
Signs Large East Coast Retailers, Furniture Wholesalers
IRVINE, Calif., Oct. 26 /PRNewswire-FirstCall/ -- VIASPACE Inc. (OTC Bulletin
Board: VSPC) announced that its framed-art subsidiary Inter-Pacific Arts (IPA)
has signed sales contracts with four new customers including two large
furniture chain-retailers on the East Coast and two high-volume furniture
wholesalers that sell through catalogs and outlet stores. Shipments are
expected to begin before this year's holiday season.
IPA is also in discussions with other retailers and wholesalers, including
"big box" wholesale-to-the-public membership clubs.
The economic downturn has affected all areas of consumer spending, but IPA's
strategy to continue to increase its customer base is expected to enhance
sales growth in future periods, as economic activity and consumer spending
recover.
IPA President Sung Chang commented: "We see the current situation as an
opportunity to expand our distribution network. To realize this growth
opportunity, we are increasing focus on our competitive strengths --
high-quality artwork, product selection, and pricing -- to not only attract
new customers but also retain existing customers. Our ability to fulfill
high-volume orders and make timely deliveries were also key factors in signing
our newest customers. Overall, we feel our commitment to customers places IPA
in an excellent position for long-term growth."
VIASPACE Chief Executive Carl Kukkonen added: "Our framed art is of the
highest quality, and each customer receives a unique product in terms of the
art, mattes and frames. Furthermore, we guarantee that all royalties have been
paid to the artists, which are important considerations for our customers and
differentiate IPA from companies that mass-produce low-end framed art, or use
unauthorized prints that violate copyright law. "
About VIASPACE Inc.
VIASPACE is an alternative energy company providing products and technology
for renewable and clean energy that reduce or eliminate dependence on fossil
and high-pollutant energy sources. The Company provides raw material for
cellulosic biofuels and develops and markets fuel cell cartridges, products
and technology. VIASPACE subsidiary Direct Methanol Fuel Cell Corporation owns
a portfolio of fuel cell patents licensed from Pasadena-based California
Institute of Technology (Caltech), which manages NASA's Jet Propulsion
Laboratory, where the direct methanol fuel cell was invented. For more
information, please see www.VIASPACE.com or contact Dr. Jan Vandersande,
Director of Communications, at 800-517-8050 or IR@VIASPACE.com.
Safe Harbor Statement: Information in this news release includes
forward-looking statements. These forward-looking statements relate to future
events or future performance and involve known and unknown risks,
uncertainties and other factors that may cause our actual results, levels of
activity, performance or achievements to be materially different from any
future results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements. Such factors include, without
limitation, risks outlined in our periodic filings with the U.S. Securities
and Exchange Commission, including Annual Report on Form 10-K for the year
ended December 31, 2008, as well as general economic and business conditions;
the ability to acquire and develop specific products and technologies; changes
in consumer and business demand for the Company's products; competition from
larger companies; changes in demand for alternative and clean energy; risks
associated with international transactions; risks related to technological
change; and other factors over which VIASPACE has little or no control.
SOURCE VIASPACE Inc.
CONTACT: Dr. Jan Vandersande, Director of Communications, +1-800-517-8050,
IR@VIASPACE.com
