HERMOSA BEACH, Calif.--([ BUSINESS WIRE ])--Virtual Piggy, Inc. (OTCBB: VPIG), an innovator in safe-online youth purchasing, today announced that the Virtual Piggy service will be integrated into the Athletic Propulsion Labsa online store which provides exclusive high-performance athletic footwear and apparel products.
"We are excited to partner with Athletic Propulsion Labs to bring their unique athletic shoe technology to our consumers"
Athletic Propulsion Labs is well-known for their highly successful APL Concept 1 and Concept 2 basketball shoes that feature their break-through [ Load aN Launcha" patent-pending technology ]. The patent-pending Load aN Launch device is implanted in a cavity in the forefoot of the shoe and serves as a alaunch pada by taking the energy exerted by the player and increasing lift with the aid of an intricate, spring-based propulsion system designed to increase vertical leap up to 3.5 inches based upon athletic ability and physical conditioning of the individual. Athletic Propulsion Labs recently released a limited edition of the Concept 2 basketball shoe featuring a unique DNA-patterned multi-dimensional upper material.
aWe are pleased to have Athletic Propulsion Labs become a Charter Partner of the Virtual Piggy network which gives young people the opportunity to gain the experience of managing their money in a parental controlled, supervised environment. The Virtual Piggy system supports and encourages greater understanding and communication between families while giving children the ability to wisely manage the funds at their disposal in a safe, online environment,a said Adam and Ryan Goldston, Co-Founders of Athletic Propulsion Labs.
aWe are excited to partner with Athletic Propulsion Labs to bring their unique athletic shoe technology to our consumers,a said Dr. Jo Webber, CEO and Founder of Virtual Piggy. aThis is a great addition to the growing portfolio of sports footwear and apparel brands available on Virtual Piggy.a
About Virtual Piggy, Inc.
Virtual Piggy, Inc. is the first e-commerce solution that enables kids to manage and spend money within a parent-controlled environment. The technology company delivers online security platforms designed for the Under 21 age group in the global online market, and also enables online businesses the ability to function in a manner consistent with the Childrenas Online Privacy Protection Act (aCOPPAa) and similar international childrenas privacy laws. Virtual Piggy enables the under 21 audience to play, transact and socialize in a secure online environment guided by parental permission, oversight and control. The company is based in Hermosa Beach, CA and on the Web at: [ www.virtualpiggy.com ]
About Athletic Propulsion Labs:
Athletic Propulsion Labs was founded in Los Angeles, California by twin brothers Adam and Ryan Goldston, two former University of Southern California basketball players. The company is dedicated to the creation of world-class, breakthrough technology that significantly enhances the performance of athletes in a variety of sports. All APL basketball shoes are available exclusively at [ www.AthleticPropulsionLabs.com ] and feature the revolutionary Load aN Launch Technology. The patent-pending Load aN Launch device is implanted in a cavity in the forefoot of the shoe and serves as a alaunch pada by taking the energy exerted by the player and increasing lift with the aid of an intricate, spring-based propulsion system designed to increase vertical leap up to 3.5 inches based upon athletic ability and physical conditioning of the individual.
The APL Concept 1 basketball shoes were introduced on March 24, 2010. The NBA ban of the APL Concept 1 shoes occurred on October 19, 2010 and marked the first time in the 64-year history of the NBA that a shoe was banned because it provided an aundue competitive advantage.a
For more information on Athletic Propulsion Labs, please visit the website at [ http://www.AthleticPropulsionLabs.com ] or [ http://www.APLbasketball.com ].
Safe Harbor Statement
All statements in this news release other than statements of historical facts are forward-looking statements within the meaning of the asafe harbora provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial position to differ materially and adversely from those expressed in such forward-looking statements. Such factors include, but are not limited to, our ability to raise additional capital, the absence of any operating history or revenue, our ability to attract and retain qualified personnel, our dependence on third party developers who we can not control, our ability to develop and introduce a new service to the market, market acceptance of our services, legislative, regulatory and competitive developments addressing licensing and enforcement of patents and/or intellectual property, general economic conditions, as well as other factors set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission, and other filings with the Securities and Exchange commission and other public documents and press releases.
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