8000 Incorporated (EIGH)

[Alejandro1989]

8000 Inc (EIGH.pk) to Focus on Core Business and Unwinds the Southbridge Development Group Acquisition

The Company and all subpoenaed individuals, in conjunction with the SEC’s order suspending trading, have and are complying fully with the requests by the SEC regarding its current “In re Matter of Monks Den.” Some 5Gb of data has been collated on behalf of the Company and provided to the SEC investigation team to answer all questions. Mr. Kelly has testified, Mr. Bryant is prepared to testify near-term under oath and the individuals subpoenaed are finalizing their responses to the extent not already included in the Company response. The Company will update its shareholders on this SEC matter in its monthly reports. The Company accepts that it was careless in some of its actions and that it will likely need to (i) enter into a consent order with regard to its publicly issued press releases and (ii) issue remedial correcting releases (voluntarily or as directed by the SEC). Nonetheless, the Company firmly believes that the SEC’s investigation will show no illegal, manipulative activities or wrong doing by its officer or associates in conjunction with the Company’s shares.

Subject to the findings and response from the SEC, the Company feels that it should install a new management team. Seasoned professionals have already been identified with agreement in principle to join the Company’s board. The new members of the management team will be experienced merchant and investment bankers to take the lead in terms of the Board of Directors and associated corporate fiduciary duty as well as shaping the operational activities of the 8000 Inc. and engaging needed officer(s).

At the request of the proposed in-coming new management team, and as a direct result of the SEC Investigation, the Company has decided that it needs to focus on its core business and take a less aggressive approach to its business. To that end, the Company intends to now concentrate solely on its profitable business interests in Barbados and move away from the longer term investment strategy of acquisitions, among other reasons because of the funding committed or required going forward.

In light of its advances made in Barbados and its belief that its operations there are gaining traction, the Company’s operations in Barbados, including its Brand8000, will become its focus, commencing immediately. The first action under this changed operational emphasis is, regrettably, the decision to concurrently rescind the December 2009 agreement of the acquisition of Southbridge Development Group, performance of which has been held in abeyance pending funding required to be provided. While no agreement has been reached and without prejudice to any rights they may have over the last year, Southbridge is expected to return to the Company the 8MM restricted shares issued in conjunction with the acquisition and both entities will proceed independent of one another, without hindrance and with no involvement or ownership by either in the other.

For more information please visit:
www.brand8000.com
www.8000incgroup.com
www.8000inc.net

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