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June 23, 2010, 10:00 a.m. EDT ·

WaterColor Holdings, Inc. Changes Its Business Strategy Advance of Merger

WESTPORT, CT, Jun 23, 2010 (MARKETWIRE via COMTEX) -- WaterColor Holdings, Inc. ("WaterColor"), a privately held entity, today announced that its Board of Directors has unanimously approved a change in its business strategy and plan leading toward a merger.

Martin Licht commented, "The Board of Directors has recently agreed to a change in the company's direction and structure in order to improve shareholder value. When we assumed control of the company in 2007 we felt our business plan at the time would create a profitable venture. When we realized not only the difficulties in developing a successful alternative fuel business but also the problems we faced in cleaning up a dormant shell, we chose to revert back to a private entity. Since then, we have explored a number of potential business opportunities. We are now in final negotiations with an exciting merger prospect in the Homeland Security marketplace.

"WaterColor is in good standing with the state of Colorado and it will be implementing a 1:60 reverse split reducing the total outstanding common shares to less than 7 million pre-merger. As a result, the total authorized common shares will be reduced to 150 Million and preferred shares will decline to 5 Million. Upon closing the merger, existing shareholders will retain approximately 10% ownership in the new company. The new company's name will be revealed once formal contracts have been signed by all parties and all conditional terms met."

Mr. Licht closed his remarks by stating "We anticipate the new company will provide substantial potential for investment growth to all shareholders. WaterColor will be relinquishing majority ownership once arrangements have been completed and as a result all future correspondence will be provided by the new management. As part of the merger acquisition terms, the new company will be filing with both the SEC and FINRA in order to achieve trading status."

Contact for further information:

Gary Stein

steincorp007@gmail.com 

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PostSubject
#519   And still dead on dead LORTAP KCOTS 04/04/13 09:13:53 AM
#518   Still dead no pulse LORTAP KCOTS 03/24/13 02:59:38 PM
#517   Wonder if this is dead for all eternity? LORTAP KCOTS 02/05/13 11:41:23 AM
#516   I second that motion... MLR_Lite 03/26/11 01:20:09 AM
#515   boy this sure sucks... LORTAP KCOTS 03/24/11 11:11:41 AM
#514   any idea if these guys are close? LORTAP KCOTS 11/08/10 11:26:28 AM
#513   Consistent pattern; reverse split the stock to clean 53chevy 06/23/10 07:46:56 PM
#512   You hit it on the head when you prices 06/23/10 04:45:19 PM
#511   I agree with your perspective.....unlike most CEO's who 53chevy 06/23/10 12:07:44 PM
#510   I will be waiting and watching with anticipation. Brookwinn 06/23/10 12:00:13 PM
#509   Homeland security is a hot topic, hot industry 53chevy 06/23/10 11:47:13 AM
#508   Thank you, Chevy!! Brookwinn 06/23/10 11:41:32 AM
#507   It's ALIVE!!!!!! 53chevy 06/23/10 11:27:41 AM
#506   Before we jump to conclusions let's wait till prices 06/02/10 06:33:57 AM
#505   It has been almost 3 years now since Brookwinn 06/02/10 12:10:49 AM
#504   really?.... is that a gut feeling or something LORTAP KCOTS 06/01/10 10:50:47 PM
#503   I BELIEVE WE ARE GETTING CLOSER TO FINALLY prices 06/01/10 10:28:31 PM
#502   I am continuing to wait patiently for this Brookwinn 06/01/10 02:12:22 AM
#501   sand, this sucker is DOA, they would have LORTAP KCOTS 04/07/10 10:43:06 PM
#500   Wait till MTRE is finished before throwing sand prices 04/07/10 09:37:30 PM
#499   it's dead 100% LORTAP KCOTS 04/07/10 08:23:14 PM
#498   But do not count this completely dead. There prices 04/07/10 05:38:12 PM
#497   I agree with you. It will never come prices 04/07/10 01:54:15 PM
#496   hey wow this group sticks together sports guy 04/06/10 10:48:02 PM
#495   I've been around for over 10 years in LORTAP KCOTS 03/08/10 09:34:05 AM
#494   "dusty as heck..." - I would Brookwinn 03/07/10 10:38:31 PM
#493   dusty as heck... we were scammed. EOS. LORTAP KCOTS 03/07/10 10:22:31 PM
#492   Any update here? MLR_Lite 03/06/10 09:43:38 PM
#491   not another one. close group lol another dave sports guy 01/19/10 10:38:31 PM
#490   I never "pumped" anything. I provided the facts 53chevy 01/14/10 06:34:30 PM
#487   hoping MTRE can get it in gear soon....any thoughts? berge 12/01/09 09:35:48 AM
#486   It was said that the delays on this Brookwinn 12/01/09 01:12:27 AM
#485   Also ready.... and patiently waiting... there is little Brookwinn 09/26/09 07:38:59 PM
#484   i am ready for this to get JIGGY!!!! Dem Franchise Boyz 09/26/09 07:06:55 PM
#483   Last I heard a few weeks ago is Brookwinn 08/21/09 10:58:24 PM
#482   Hey! No one has asked in a MLR_Lite 08/21/09 08:32:42 PM
#481   2 years ago... now moving into year 3... LORTAP KCOTS 07/20/09 08:15:44 AM
#480   We will just have to wait it out... Brookwinn 07/19/09 10:27:39 PM
#479   I don't believe they are doing anything on LORTAP KCOTS 07/19/09 10:18:38 PM
#478   Hopefully, yes. Grapevine says that things are Brookwinn 07/16/09 10:06:27 AM
#477   its been a long time now...maybe we see Dem Franchise Boyz 07/16/09 09:28:01 AM
#476   Smitty, This publicly traded company was formerly United Specilaties Brookwinn 07/10/09 03:03:18 AM
#475   what happened to the original business- food flavorings? smitty43 07/07/09 04:29:33 PM
#474   are we there yet? LORTAP KCOTS 06/11/09 11:48:59 PM
#473   :) $oldier Hard 06/04/09 09:27:54 PM
#472   well so far there is no filings or LORTAP KCOTS 06/04/09 09:27:29 PM
#471   JMO, But you had better start preparing it. $oldier Hard 06/04/09 08:56:18 AM
#470   if this ever starts trading again... I will LORTAP KCOTS 06/04/09 08:51:48 AM
#469   I believe as soon as the symbol change $oldier Hard 06/04/09 08:24:55 AM
#468   when is this supposed to come alive? LORTAP KCOTS 06/03/09 11:27:24 PM
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