The participants in the M3 (Millennium 3) Vs. M4 (Millennium 4) trademark litigation proceedings announced a settlement binding all parties to an agreement in the resolution of this issue.

Under the terms of the agreement, Cold Sports Distribution Inc.and Elan will immediately cease all sales and advertising activity Worldwide. Cold Sports Distribution and Elan will honour all order commitments, and Elan will produce the snowboards, for these commitments.

As of December 31, 2007, all activity around the M4 name with respect to snowboards and related goods will cease and the M4 name will no longer be available.

This is the best solution available, in order not to penalize our dealers. It also allows everyone a graceful exit, and avoids costly litigation, all parties have agreed.

Shaun Morris of A. Mordo & Son Ltd. states “We encourage all dealers who have made a commitment to M4 to live up to that commitment. While we regret that this was ever an issue, our hope is that all parties keep the dealers interests first and foremost.”

"Evolving our brand name will give us a chance to incorporate more of the passion our Team has for snowboarding into our branding. The philosophy, aesthetic and focus on quality upon which M4 was founded will not change. The new branding will only amplify it." -Blaise Rosenthal

"We have agreed to change the name of our M4 line of snowboards for the 08-09 collection to avoid potential confusion with Millennium Three Snowboards. All M4 boards will retain their full warranty coverage guaranteed by the Elan factory, and Cold Sports will continue to provide the high level of customer service and satisfaction we're known for. We're confident in the quality of our products and in our ability to transition the momentum of M4 into our new brand name for our 08-09 collection." -Bruce Caslowitz