Heritage Trust Company
[b]Shares issued and outstanding: 20,000,000
The Company's 1.25M preferred shares will be convertible to common stock by a ratio of 25 common shares for each preferred share held based on the gross sales milestones set out as:
-- $7,500,000 Gross Sales will allow for the conversion of 300,000
-- $15,000,000 Gross Sales will allow for the conversion of 300,000
-- $22,500,000 Gross Sales will allow for the conversion of 300,000
-- $30,000,000 Gross Sales will allow for the conversion of 300,000
Reverse merger completed on may 30, 2006:
Based on its audited financial statements, IAC recorded gross revenues of approximately US$7.2 million and US$1.3 million in each of 2005 and 2004, respectively.
For more information on Innovative Agricultural Concepts, LLC, visit www.favoredgrain.com as well as an informational video on products and services at www.favored.tv
Favored Beef to Receive the Five Star Diamond Award for Excellence
Monday June 12, 9:01 am ET
LAS VEGAS, NV--(MARKET WIRE)--Jun 12, 2006 -- Favored, Inc (Formerly Urbanalien Corp.) (Other OTC:UBAL.PK - News) announced today Innovative Agriculturall Concepts, LLC has been chosen by the American Academy of Hospitality Sciences (AAHS) as the recipient of the Five Star Diamond Award for Excellence. The award will be presented Tuesday, June 13, 2006 in New York City by the Academy and their Trustees. The AAHS recognized FAVORED® BEEF; a registration of IAC; for its high quality, superb taste, and natural tenderness for the Academy's Food segment.
"It is an honor to be endorsed by the Academy," said CEO Dr. Claude Page. "The Five Star Diamond Award is coveted and respected throughout the world. We are very pleased that our products have met and exceeded their high standards and stringent criteria." The AAHS is world-renowned for awarding excellence in the global travel and luxury services sector. Each year the Academy bestows awards exclusively on five star establishments that are deemed to be the pinnacle of quality.
"I am fan of Favored Beef," proclaimed Mr. Joseph Cinque, President and CEO of the American Academy of Hospitality Sciences. After experiencing the superior quality of the Favored® Beef product recently at one of New York's Finest Dining establishments; David Burke & Donatellas "I was truly impressed."
Favored joins an elite group of companies whos product have been honored with the Five Star Diamond Award for Excellence.