SportsQuest, Inc (SPQS) Approves 3.5 Billion Buyback Plan
Dec 06, 2012
OTC Disclosure & News Service
Sanford, FL -
SportsQuest, Inc (SPQS) Approves 3.5 Billion Buyback Plan
ORLANDO, Florida- December 4, 2012- SportsQuest, Inc (SPQS) announces today that its Board of Directors has approved a share repurchase program for up to a total of three billion five hundred million shares (3,500,000,000) of the Company's common stock. The Board will review the program after a period of 12 months. Share repurchases, paid in cash, may be made from time to time in open market transactions at prevailing market prices or in privately negotiated transactions. Both the timing and the amount of purchases made under the program will be determined by management, based upon market conditions and other factors.
The program does not require the Company to purchase any set number or amount of shares, and may be suspended or reinstated at any time, without notice, at the Company's discretion. SPQS will follow the guidelines of Rule 10b-18 when repurchasing shares.
Jeffrey Burns, CEO and President of SPQS, states: "This announcement reflects our confidence in the long-term growth of the company and our commitment to returning value to our shareholders."
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology, industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company's filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company's objectives will b
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
OTC Disclosure & News Service
Sanford, FL - Zabo Foods Unveils Zabvia its Liquid Stevia Product
Online PR News - 29-November-2012 -ORLANDO, Florida Zabo Foods (www.zabofoods.com), a wholly owned subsidiary of SportsQuest, Inc. (SPQS), has made a big splash in the billion-dollar Stevia business with the upcoming launch of its liquid Stevia extract, Zabvia.
Zabvia is a zero-calorie, low-glycemic liquid sweetening agent that is 300 times sweeter than table sugar. Derived from the leaf of the Stevia plant, Stevia is used as a sugar replacement for the health- and diet-conscious. Currently, consumer-ready Stevia is processed and marketed in three different formulations: powder, pill form and transparent liquid extract. The powder and pill forms require a base of 93% maltodextrin (corn flour) and 7% Stevia. The body converts maltodextrin into glucose (sugar), negating the intent of using the product as a sugar replacement. Zabo Foods' Stevia extract is 100% organically grown and derived. It differs from other market products in that the only chemical added to the final product is ascorbic acid, an organic compound that raises the extract's antioxidant level.
Zabvia will be Zabo Foods' first branded Stevia rollout. The product is poised to become the most desired sweetener available, packaged in the most environmentally-friendly packaging.
"This is the next big thing," says Rick Sitzer, President of Zabo Foods. "We are currently looking at releasing Zabvia at a lower retail price than the currently available liquid Stevia products, thanks to very favorable margins under our agreement with FDN Trade International."
What Differentiates Zabvia From the Competition?
In order to preserve all the beneficial nutrient properties that the Stevia plant possesses, Zabo Foods does not clarify its product, nor does it utilize chemicals in its harvesting or transformation processes. In turn, Zabo Foods suggests using an adequate amount of Zabvia in order to avoid changes in the characteristics of the foods on which consumers will be using it.
The current sweetener market contains many products that are of synthetic or chemical origin, such as aspartame. Some of known side effects of chemical sweetener use are diseases such as multiple sclerosis, lupus, epilepsy, and diabetic complications (Source: Aspartame Consumer Safety Network ACSN, Possible Mission International). In contrast, Zabvia is eminently organic and is not mixed with any other sweetener, nor is it of chemical origin. It is important to note that in some cases, chemical sweetening products have the potential of becoming toxic or generating serious secondary side effects if they are mixed with Stevia in any way.
Also available are a variety of vegetable-based "natural" sweeteners, derived from sources such as sugar cane, wood, and starches: xylitol, sorbitol, maltodextrose, and high-fructose corn syrup. Unfortunately, even these natural sugar replacements contain calories that are ultimately converted by the human body into glucose (sugar). Zabvia is a true zero-calorie food and is not absorbed by the body. Zabo Foods recommends that every time someone purchases Zabvia or any other product, they read the label carefully in order to avoid purchasing a product that may affect one's health.
Key Words: sweeteners, sugar, natural, Stevia liquid, Stevia sugar, Stevia extract, Zabo foods
Stevia: Zabo Foods Launches Zabvia
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology, industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company's filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company's objectives will be attained.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
SportsQuest Signs Letter of Intent with FDN Trade International to Distribute Stevia
Nov 20, 2012
OTC Disclosure & News Service
Orlando, FL -
Orlando, FL Nov. 20, 2012 (OTC MARKETS NEWSWIRE) -- SportsQuest, Inc. (SPQS), a publicly-traded holding company, announces today that it has signed a Letter Of Intent with FDN Trade International to distribute Stevia, a natural sweetening agent derived from the leaf of the Stevia plant. Stevia is a healthier replacement for sugar and artificial sweeteners. SPQS subsidiary Zabo Foods will manage the commercialization effort and expects to announce its premiere Stevia product within the next two weeks.
Currently, Stevia is available in both liquid and powder forms. The powdered form requires a base of 93% maltodextrin (corn flour) and 7% Stevia. The body converts maltodextrin into glucose (sugar), negating the intent of using the product as a sugar replacement. Zabo Foods' Stevia extract is 100% organically grown and derived. It differs from other market products in that the only chemical added to the final product is ascorbic acid, an organic compound that raises the extract's antioxidant level, marking Zabo's liquid Stevia extract as the superior sweetener.
FDN Trade International, based in Columbia, South America, is the distributing arm for UNIASOCIAR PM, a grower of Stevia. UNIASOCIAR PM and FDN Trade International are both certified in and involved in every point of production: the pre-crop process, planting of the crop, harvesting, and final transformation. The end result- liquid Stevia extract- is unique in that it boasts 5 international certifications across 3 continents:
1. USDA- Organic, FDA approved, BT081661000CT1e
2. JAS- Japan's Agricultural Standards
3. European Union Organic Certified
4. Bio-Tropico Certification
5. INVIMA Certification, RSAT 22I206
Under the terms of the agreement, SPQS we will be able to purchase organic and regular Stevia at an agreed-upon locked-in price. The revenue model built will allow SPQS to quickly scale its business, providing a faster path to breakeven operations with significantly less upfront investment capital and risk.
Jeffery Burns, SPQS CEO/President, comments, "We are off to a great start with the revitalization of Zabo Foods. Given the opportunities presented by our partners, the growing Stevia market is reaching the 13 billion dollar mark and is expected to have continued growth as more consumers and manufacturers switch from sugar to the healthier Stevia. Our proposed plans are to scale our business model; we are targeting significant revenue growth during calendar year 2013, provided we achieve certain capital requirements."
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology, industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company's filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company's objectives will be attained.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases. 
Zabo Foods Launches Updated Website Nov 20, 2012
OTC Disclosure & News Service
Sanford, FL - SPQS Subsidiary Zabo Foods Launches Updated Website
Orlando, FL Nov. 19, 2012 (OTC MARKETS NEWSWIRE) -- SportsQuest, Inc. (SPQS), a publicly-traded holding company, is pleased to announce that its subsidiary Zabo Foods has re-launched its website at www.zabofoods.com.
Zabo Foods has updated and re-launched its company website, opening up the internet as a gateway to its products. The company is looking to grow sales across all sectors and is starting its commercialization efforts, actively pursuing new distributors for its product catalogue.
Jeffery Burns, CEO and President of SPQS, comments, "We are off to a great start in the revitalization of Zabo Foods. Our corporate framework is firmly intact, and the stock structure will not be changing in this 4th quarter. We are now charging full-speed ahead with Zabo. The website redesign is a work in progress, and will be continually improving at a very fast rate. We encourage interested distributors to contact us via our website for Stevia natural sweetener, Zabo Chips snacks, and Pop's Liquid Sunshine sauces."
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology, industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company's filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company's objectives will be attained.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
SPQS Shareholder Update Nov 06, 2012
OTC Disclosure & News Service
Sanford, FL -
SPQS Shareholder Update
Orlando, FL Nov. 5, 2012 (OTC MARKETS NEWSWIRE) -- SportsQuest, Inc. (SPQS), a publicly-traded holding company, addresses shareholder questions.
We at SportsQuest have recently fielded a number of questions and are putting out this update to address most of those questions. SportsQuest is a publicly traded company, and as such, it is not prudent for us to field calls to individual shareholders or to answer emails. We will neither share information nor convey information that might give one shareholder an advantage over the other shareholders. The company was on a dire course in June, and we had to make some tough choices in order to right the ship. Our two conglomerate operating subsidiaries were underperforming, and as such, the company was saddled with debt, with a large portion being current. There was a lack of liquidity to our stock, and a share price that had been steadfast at .0001.
We have since reduced our debt. We have sold off our underperforming subsidiary, which was a declining asset. We have taken steps to improve our stock's tradability. We have conveyed to shareholders all of these steps since we began the cleanup in June. We are current in our filings with the OTC Markets. Our shareholders have seen a 100% increase in shareholder price as of close on Friday November 2nd, 2012, as well as increased daily volume since June 7th.
In regards to your questions:
1. We are working with our legal counsel to remove the DTC "chill" that currently prevents our stock from being trading electronically. We believe that the measures we have put in place will help alleviate those concerns and give shareholders reassurance that there won't be any changes over the rest of the year.
2. SportsQuest is currently finalizing its 3rd quarter financials. We plan to post these before November 15th, 2012.
3. The company has liquidated assets and issued stock in order to reduce its debt obligations.
4. The CEO has returned shares in order to facilitate the reduction of debt without reversing the stock or raising the authorized number of shares.
5. Since Mr. Burns has been CEO, SportsQuest has neither issued any shares for promotion nor paid for promotion of its stock in the last year or in its history.
6. OTC Markets currently reflects the correct share structure.
7. The company took a change of direction in June. Answers to questions regarding these changes are reflected in the posted quarterlies.
8. Our operating subsidiary is Zabo Foods. We are working to ramp up Zabo Foods.
9. Zabo Foods has a concentration of products promoting healthy eating. We recognize that there is currently a significant consumer push for foods with better nutritional content, and believe we are in place to capitalize with our healthy fruit and vegetable chips and Stevia sweetener products.
10. Zabo Foods has three product lines: Zabo Chips, Zabo Sauces, and Stevia.
11. Zabo Foods is currently revamping its website, www.zabofoods.com, to showcase our products and drive sales. We believe a live site will be in place in the upcoming week.
12. We are currently looking for financing to assist in the execution of all objectives.
13. The company has the mindset to acquire a sports-related subsidiary. This acquisition will synergize with Zabo Foods' healthy lifestyle branding.
14. SportsQuest does not yet have a candidate in mind for this new subsidiary, and believes it is prudent that the company be in a better position overall before targeting any new acquisitions.
Mr. Jeffery Burns, CEO of SportsQuest, furthers: "SPQS has made major strides since June and we are now placing our full concentration on driving the business of Zabo Foods. We have been able to revisit some previous opportunities, and believe we can start capitalizing on them immediately."
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology, industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company's filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company's objectives will be attained.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
SPQS 4th Quarter Share Structure
Oct 26, 2012 OTC Disclosure & News Service
Orlando, FL -
Oct. 26, 2012 (OTC MARKETS NEWSWIRE) -- SportsQuest, Inc. (SPQS), a publicly-traded holding company, announces no changes in share structure in 4
th quarter.
At a board of directors meeting October 24th, 2012 SPQS has decided the best course of action is to try to alleviate the current "chill" in place with the DTCC (Depository Trust & Clearing Corporation).
SPQS has announced the following corporate actions to stay in place for the 4th Quarter and end of the Calendar Year 2012.
1. SPQS will not commence a reverse split of its stock.
2. SPQS will not raise its authorized shares, currently (4,000,000,000).
3. SPQS will not issue any additional shares in the 4th quarter 2012.
These actions will be put in place for the end of 4th quarter 2012 and rest of the calendar year 2012. SPQS may revisit these options in 2013 but its primary concern is to be fully functional with DTCC.
CEO of SPQS Jeffery Burns said: "The value of its stock is the life blood to a publicly traded company. We have made some clear decisions to be able to ensure we achieve the best tradability for ours. As our course of corporate action is clear for the rest of the year we are can now put our full efforts on our subsidiary Zabo Foods."
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology, industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company's filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company's objectives will be attained.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Chill Status
Oct 08, 2012
OTC Disclosure & News Service
Sanford, FL -
SPQS update on "chill" status with DTCC
Orlando, FL Oct. 5, 2012 (OTC MARKETS NEWSWIRE) -- SportsQuest, Inc. (SPQS), a publicly-traded holding company, is working with its legal counsel to remove the "chill" imposed by the DTCC.
The DTCC "chill" stems from transactions that took place between March 2011 and September 2011. The company's legal counsel is in communication with the DTCC and working with its Transfer Agent to provide all the documentation necessary to outline these transactions. The company sees this communication as a positive sign, and is working to provide all the documentation to resolve the issue and remove the "chill" as quickly as possible.
DTCC - The Depository Trust & Clearing Corporation. The DTCC's depository provides custody and asset servicing for more than 3.6 million securities issues from the United States and 121 other countries and territories, valued at US$36.5 trillion.
DTCC Chill - Is a special restriction that can be placed on a given security by the Depository Trust & Clearing Company (DTCC).
CEO of SPQS Jeffery Burns said: "In the last PR I stated I surrendered 1,800,000,000 shares but the correct terminology was returned. We understand the chill has hindered our shareholders and communication with the DTCC is a huge step in removing that obstacle."
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology, industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company's filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company's objectives will be attained.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
Oct 1, 2012
OTC Disclosure & News Service
Orlando, FL -
SPQS divests Planet Eco Products
Orlando, FL Oct. 1, 2012 (OTC MARKETS NEWSWIRE) -- SportsQuest, Inc. (SPQS), a publicly-traded holding company, disclosed today the divestment of Planet Eco Product as of September 29th, 2012.
SportsQuest, Inc (SPQS) identified the non-core Planet Eco Products in June 2012. The entity was non performing and the largest hurdle in current debt on the balance sheet. The company started negotiating with the primary debt holder to divest Planet Eco so SPQS could focus on its primary subsidiary Zabo Foods. Both entities operated under a Memorandum of Understanding restricting the release of public disclosure until execution of the Divestiture Agreement.
The subsidiary divested had a minority ownership in company that had yet to yield profits and whose assets had significantly declined in the last few years.
SPQS was able to remove $1,549,874.00 in current liabilities.
SPQS will now focus on its primary subsidiary Zabo Foods which had shown incredible potential in 2011 but was crippled with the need for financing and significant current debt held by SPQS. Zabo Foods has three main staples of products, Zabo chips, sauces, and distribution of Stevia.
Commenting on the divestment, CEO of SPQS Jeffery Burns said: "We identified our problems in June and have worked as fast as possible to right the ship. I personally surrendered 1,800,000,000 shares to facilitate the transaction and provide the best solution for our shareholders. I am committed to SPQS and believe we are a lot better off than we were four months ago. This divestment is an example of our commitment to focus on realizing value to our shareholders. We are now in a better position to go full speed ahead with Zabo Foods."
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology, industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company's filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company's objectives will be attained.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
