GVRP NEWS Date: Sunday, May 22, 2005 4:57:51 PM #msg-6430776
GLUV Corp Seeks Trading Halt
URGENT: GLUV Corp. (Pink Sheets: GVRP.PK) announced today that it has recently
come to the Company's attention that 3 million shares of the Company's common
stock were issued prior to the dividend payment date. According to the company,
it appears that an unknown number of those shares have been improperly traded in
the marketplace throughout the last few days.
The Board of Directors of the Company had voted that each shareholder holding
shares on May 13, 2005, was entitled to a dividend payable in common shares of
the Company at a ratio of 3 million shares for every 1 common share held on such
date. However, at least 3 million of such shares appear to have been distributed
prior to the payment date. The Company is investigating the reasons behind the
distribution of these shares; however, it has reached out to the SEC seeking a
halt on the trading of the Company's shares. No such shares should trade until
further notice by the Company in order to determine the extent of the problem.
The Company has commenced an internal investigation into this matter and fully
intends to cooperate with regulators in resolving the situation.
DO NOT TRADE THESE SHARES UNTIL FURTHER NOTICE.
This release contains statements that constitute forward-looking statements.
These statements appear in a number of places in this release and include all
statements that are not statements of historical fact regarding the intent,
belief or current expectations of the Company, its directors or its officers
with respect to, among other things: (i) the Company's financing plans; (ii)
trends affecting the Company's financial condition or results of operations;
(iii) the Company's growth strategy and operating strategy; and (iv) the
declaration and payment of dividends. The words "may," "would," "will,"
"expect," "estimate," "anticipate," "believe," "intend," and similar expressions
and variations thereof are intended to identify forward-looking statements.
Investors are cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and uncertainties, many of
which are beyond the Company's ability to control, and that actual results may
differ materially from those projected in the forward-looking statements as a
result of various factors.
SOURCE: Gluv Corp.
CONTACT: Gluv Corp.
D. Ruggeri, 561-491-0870
Copyright Business Wire 2005