The patent owner had this idea and reported it to Invention Submission Corporation in September of 1999.
The patent was applied for and the original concept design was developed. The patent was granted Nov. 20, 2001.
Invention Submission Corporation provided a color brochure and some notifications to industry, however, no licensing agreement was found. At this time it was called a Frig-a-rack:
In January of 2002, the patent owner entered into a one year agreement with Millenium Marketing Group as exclusive marketing agents. This year developed a webpage, more research and development, and some tradeshow representations. At this time it was called a Refrigerack:
Millenium Marketing Group made up a nice prospectus with fancy financial projections, marketing stategies, and product summary pages, however, no licensing agreement was found.
Beginning in January of 2003, the patent owner has completed further research and testing to more that 25 prototypes. The name has been changed to MagnaRack™ to better reflect it's new capacity and uses beyond just a refrigerator. The patent owner has applied for the trademark and has formed the MagnaRack Corporation.
The MagnaRack Corporation established relations with manufacturers in China during the latter part of 2003 and has received 4 sample products, each revised in such a way as to create a safer, more durable, and very reliable product.
The 5th revision of the MagnaRack™ was ordered into production in April of 2004. The first container was shipped May 7th and we are awaiting its arrival in June.
After customs inspections for terrorists, and other delays, our cargo has arrived and is ready for sale as of July 7, 2004!
Sandy Sherrill of Rock Harbor Paint and Wallpaper in Key Largo reported the first sale to Brian Newman of Bri-Tech Coatings. It was reported that Brian bought the first MagnaRack on sight the first day it was displayed. Congratulations to Rock Harbor Paint as our first dealership and to Brian, a man of great vision!
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