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41.5 orders for August
The Enlightened Gourmet Reduces Term Debt by Over $2.7 Million; Term Debt Cut by 68%
Thursday September 18, 2:48 pm ET
NEW YORK, Sept. 18 /PRNewswire-FirstCall/ -- The Enlightened Gourmet, Inc. (OTC Bulletin Board: ENLG - News), the creator of Absolutely Free® Gourmet Ice Cream, an ice cream novelty with the taste and texture of Premium Ice Cream, with the added benefit of being free of fat, cholesterol, lactose and with no added sugar, is pleased to announce that the last investor of its $1.5 million 12% Convertible Notes recently converted their Notes to equity, and as a result the note is no longer a liability of Company. All of the investors in this Convertible Note have now converted their debt to equity. Alexander L. Bozzi, III, President and CEO stated, "I'm delighted by the show of support from our convertible note holders, who have all converted their debt to equity, and prior to maturity I might add. In addition to reducing our debt burden, their actions demonstrate their support about the long term potential of our Company."
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Additionally, the Company also announced the closing of its recent sale of Series B Preferred Stock pursuant to which the Company received gross cash proceeds of $1.975 million and exchanged $225,000 in debt in payment for the preferred stock. With the proceeds, the Company repaid $1.4 million of bridge loans undertaken by the Company in 2007, as well as providing additional working capital for the Company. Charles Morgan Securities, Inc., the Company's investment banker, placed the Preferred Stock with several accredited investors. With the conversion of the $1.5 million in Convertible Notes, as well as the repayment of $1.4 million in bridge loans, and net of $163,500 in recent working capital loans, the Company has collectively retired $2,716,500, or about 68% of its term debt since the end of November, 2007.
About The Enlightened Gourmet, Inc.
The Enlightened Gourmet, Inc. (www.TheEnlightenedGourmet.com) is the creator of Absolutely Free® Gourmet Ice Cream; an ice cream novelty with the taste and texture of Premium Ice Cream and Free of Fat, Cholesterol, Lactose and with No Added Sugar. Unlike other products marketed as "healthy" alternatives that trade fat for calories, calories for taste, and taste for texture, Absolutely Free® Gourmet Ice Cream is presently the only frozen ice cream novelty that has great taste and texture, and is free of fat, cholesterol, and has no added sugar. Absolutely Free® is also free of lactose and the Company calculated it to be only "1 Point" based on information published by Weight Watchers International.
DISCLAIMER:
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of the proposed acquisition and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.
This announcement does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation or sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful.
CONTACT:
Mr. Alexander Bozzi, III
The Enlightened Gourmet, Inc.
Chief Executive Officer
Tel. +1 (203) 230-9930
Or:
Charles Morgan Securities
120 Wall Street, New York, N.Y. 10005
Tel. +1 (212) 495-3210
--------------------------------------------------------------------------------
Source: The Enlightened Gourmet, Inc.
Have you seen the recent price action? - it got to .035 yesterday.
Have you got any update on the 7 11 deal?
It doesn't look like any reaction to the news.
What are your thoughts on this announcement? is this the 7/11 deal?
The Enlightened Gourmet Sees Improved Product Awareness in New York City Market
Monday July 21, 9:30 am ET
NEW YORK, July 21 /PRNewswire-FirstCall/ -- The Enlightened Gourmet, Inc. (OTC Bulletin Board: ENLG - News), the creator of Absolutely Free® Gourmet Ice Cream, an ice cream novelty with the taste and texture of Premium Ice Cream, with the added benefit of being free of fat, cholesterol, lactose and with no added sugar, is pleased to announce the successful implementation of its program to increase the public's awareness and sales of its flagship products in the New York City market, as a result of a distribution agreement that the Company entered into earlier this year with one of the largest ice cream distributors in the New York Metro market. This distributor presently distributes various national and regional ice cream brands to over 6,000 retail locations throughout the New York Metro area.
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While the Company's products are currently available at over 1,700 supermarkets throughout the Eastern Seaboard, this new relationship should help increase sales in the New York market. Commenting on the addition of this new distributor, CEO Alexander Bozzi, III stated, "We are excited about the opportunity to potentially have our products for sale in over 6,000 new stores in the New York market that we would otherwise not be in. The enhanced service levels that this new distributor will bring should increase our brand's awareness and sales, and make it much easier for our customers to purchase our products." In addition to these new stores, the relationship also offers the opportunity to have Absolutely Free® offered in convenience stores, as well as club stores in the New York Metro area.
While relatively new, the Company's products have already garnered a loyal following not only with health conscious consumers, but with the general public as well. Absolutely Free® is a great tasting ice cream novelty and only 80 calories per serving. As a result, the Company is optimistic that it can achieve strong revenue growth going forward.
About The Enlightened Gourmet, Inc.
The Enlightened Gourmet, Inc. (www.TheEnlightenedGourmet.com) is the creator of Absolutely Free® Gourmet Ice Cream; an ice cream novelty with the taste and texture of Premium Ice Cream and Free of Fat, Cholesterol, Lactose and with No Added Sugar. Unlike other products marketed as "healthy" alternatives that trade fat for calories, calories for taste, and taste for texture, Absolutely Free® Gourmet Ice Cream is presently the only frozen ice cream novelty that has great taste and texture, and is free of fat, cholesterol, and has no added sugar. Absolutely Free® is also free of lactose and the Company calculated it to be only "1 Point" based on information published by Weight Watchers International.
DISCLAIMER:
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of the proposed acquisition and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain of the results anticipated herein.
CONTACT:
Mr. Alexander Bozzi, III
The Enlightened Gourmet, Inc.
Chief Executive Officer
Tel. +1 (203) 230-9930
Or:
Charles Morgan Securities
120 Wall Street, New York, N.Y. 10005
Tel. +1 (212) 495-3210
Looking for news and can't find any - have they gone into a quiet period or anything? Have not heard anything further on the seven/eleven store news. Hoping to see some news soon to indicate how this company is doing.
"Doing better than I deserve."
Thanks, It looks like it near a low price right now, so I am going to try to pick some up.
I haven't seen any news lately and wondered if there is any news that I ahve missed. It seems to be quiet. I see their product in the supermarkets so I just was looking for any postings and don't see any.
Patience is a virtue
Whew recemtly I finally was able to get some shares through my ameritrade account.
Whew recemtly I finally was able to get some shares through my ameritrade account.
Thanks - I have been trying buy I have not been able to buy shares on my ameritrade account. So I will keep an eye on it and see when I can begin buying some.
Wow - that sounds great - I have not seen any announcement on that - that should make the price jump some I think?
What do you think is a price to buy in at?
Wow 2,000,000 shares traded today! Anybody hear any news?
I just was reading their year end for 2007 and those filings you mentioned - 8ks. It looks like they might be expanding their production and I guess maybe pay their debt down.
Thanks - I will continue to watch for some news.
I haven't seen any new info or postings. Anyone know anything new?
The volume is a little bit better - I see a sell for .25 - I am just looking to understand a little bit from any of you who know more
p.s. is anybody reading this?
I see the price has dropped a bit - is it a buy here?
What is the donnybrook on getting invested you refer too. Is there some problem I need to know of?
Thanks
Do you know if they have had any announcements recently as to reasons for the share price or volume weakness?
It looks better as of yesterday. I guess I was interested to know how you heard of the stock and how long you have been following them.
Thanks
I haven't seen any activity since open. Does anyone see any trx?
I agree with you 100% - all news gets out ahead of the time -
1) On of Globetel's issues over the last years is that the stock is shorted and manipulated - not releasing the news would let inside wall streeters take advantage and make bigger profit
2) Many posters and/or bashers are always complaining that they do not release news timely etc - now they shouldn't complain
Highlights for November/ Key milestones I am interested in hearing about:
Possible Positives:
Nov xx - Will we see GTEM filing to get off the pinks in the next week /month? ( if yes - this would be positive )
Nov 15th - will we see a reporting of a resolution in the billing problems of the 2nd qtr and some growth? ( this would be positive)
Nov xx - Any progress in Mexico and Germany etc coming either in the qtrly report or other announcement.
Nov xx - This weeks letter seems to be one shoe - is it to be followed with some other news this week? Obviously also updates on Sanswire,Money card and all their other divisions and ventures ( I don't think any major news will hit unless real contracts are signed and I haven't heard anything about the money card to indicate that there will be soon.)
Possible negatives
Hanging overhead are the lawsuits and the SEC investigation - Hoping they end up being paper tigers re the share price $
GTEM on short seller list on other board - If they can be successful on driving the price down ( and they have been all the last year) I am looking to see what price they might come back in at - .25 or less? I know that lowtrade and others have used their ta to come up with that in the past and wondered if anyone has done that yet. I am concerned about buying more now and then the short sellers drive the price down again.
I can see the volume looks positive today again.
The quarter ends this week and I am hoping that the billing problems had been resolved and that there will be some improved results for the third qtr.
I am holding on to my shares but still think there is more to the problems with AMEX than has come up. The coming days should make things clearer.
I feel the company has several growing and promising divisions while everyone seems to be focused on the stratellite as the big pow for GTE, their growth in telecommunications installs and the moeny card was an area I had expected to have large growth.
I feel that this will have some more delays before everything sorts itself out.
Thank you for your comments. I had been here instead of raging bull for some time now - enjoying the information etc. I realize that many have been upset with the price range of GTE these days - and especially as someone who when the stock was in the .30's pre split - held on to the value of $1 million in stock of GTE and then again when 12/05 the price went over $4 - my convinctions continued to hold on to a portfolio of over $1 million - which obviously is now 1/8 of that.
So anyone may think I have other motives - I post infrequently as I do not need to go into raging bull banter as to why I have been such a believer in GTE's future, their unique product and vision. I have tried to learn over these past months to be more realistic, and have spoken to others with more experience in the market. They have expressed the thoughts that it might be that it will take GTE getting better wall street savvy and getting relations bridges fixed for their future.
I was so sorry to see people like design333 and others who have sold out positions at great losses. I have had my share of stomach churning, being out of work and having to sell off amall pieces of shares to pay bills myself. But I make my choices and I still have my expectations on the great future of GTE.
To clarify my post - I referred to the announcement on 7/25 - by GTE appealing - the clock started ticking - everyone had posted that somewhere around Sept 5th was 45 days. That is the intial "deadline", target time, expected date of resolution, whatever language you want to use.
My point was that this was AMEX saying to GTE - we have issues with your company's practices in the last year or so you have been on AMEX.
GlobeTel Communications Corp. (AMEX:GTE) today announced that it has notified the American Stock Exchange (Amex) of its decision to appeal the Amex Staff Determination to delist the common shares of GlobeTel from the Amex.
GlobeTel had announced on July 19, 2006 that it had received a letter from the American Stock Exchange that there had been a Staff Determination to strike the Company's common shares from listing and registration on the Amex.
According to the Amex Company Guide, the hearing will be scheduled, to the extent practicable, within 45 days of GTE's appeal. GTE anticipates that its common stock will continue to trade on Amex pending a decision by the Listing Qualifications Panel
I think that AMEX was expecting GTE to act on the initial deadline and drop itself voluntarily and when it did not and in fact continued not to understand the issues AMEX has with them - AMEX then dropped the other shoe and gave them both barrels in hopes of not having to delist them. It may even be that AMEX had more issues with them.
If AMEX is not vindictive - then they are giving GTE the chance to bow out at this time - get their act together and return to some exchange once they have more experienced personnel in handling the rules on annoucements etc. and when their technology innovations and business model is stronger and able to withstand FOOL and others like him.
Interesting show on military channel today - It was showing how the pentagon is trying to get prepared for a scenario where some entity sends up a missile/s into space and discharges an electronic magnetic pulse which then disables all the trillions of dollars of satellites.
It was mentioned that the satellites are critical for the economic life of the U.S. as just one aspect of its use.
So I pondered that if that day is in the future and when the stratellite successfully is tested and deployed as well as the smaller military stratellites that stratellite would be one very viable and powerful backup plan which would be incorporated into the pentagon and military defense plans.
I looked but did not see a repear of the show.
I have been holding since 1999. I don't think that the AMEX wants GTE on it anymore and will not agree to letting them stay on. Just look at the way they went out of their way IMO to mess the trading and share price of GTE through their recent actions.
I hope that GTE can get off AMEX relatively safely and I am waiting for the earnings to come through on what by SEPT will hopefully be three profitable divisions and growing as well as some success on the stratellite.
After that, they will be strong enough to weather the storms of a major echange in the early 2007 timeframe and hopefully skip the AMEX this time and go to NASDAQ or NYSE.
Trying to understand how will TA be affected if GTE gets delisted? That is will the charts still be useful for understanding trends.
CTO does fit his past experience better but he was the foudner and president of the origianl Globetel which merged into ADGI - so he might have got more a title than he could grow into.
It doesn't matter a hoot now - but my life experience is that you give people with energy and enthusiasm the chance to grow into a new position etc. I value Huff for his innovative entrepenuerism and while they have added many experienced people since then - he was the catalyst to this company. I believe there was once discussion that as the company grew into a revenue producer that it would be natural for a stronger CEO to take over. They just might have underestimation the AMEX environment.
"Move to the OTCBB now, or fight the delisting and lose and
then move to the OTCBB later, or fight the delisting and win but then never release another pr while on the AMEX...Only 8K's and updates on the company website"
Additionally wait till the sanswire is flight tested and releases of profitability roll from august through end of year and you will see the share price respond. While on the Amex - the only real response to a PR was the original Russian announcement.
I can believe in the theory on the India deal being the issue as it is very similar operating environment to Russia in that a deal may not be a deal until the $$$$ show up. If so - Amex could have got pi**ed off and said no more of this NR - yer out!
I cannot let disparing comments about not knowing about Huff go forth - regardless how any of us feel at the moment.
This website and Globetel's website have details of his work experience - fairly substantial and significant. So if you want to make these comments - I will have to refute you - I have lost on paper as much or more than many of the shareholders and while it is signficant - there is no reason to question Huff's qualifications as an innovator, developer and technically knowledgable person. He may not be totally savvy about the inner workings of the stock market and the behavior but they are supposed to have people who know that advising him.
I believe that they are trading again after issues being resolved at this time. there must have been a news release as many thought that AMEX did not like and GTE maybe convinced that they will either hold off on the NR and/or that they will provide a NR with $ paid.
It can't be that they are moving to another exchange?
Been glued to my pc all day here - not quite - I am guessing it will be an after hour NR and trading to resume tomorrow.
IMO