VNTB(p) worth a shot at .005 on this news
V-Net Beverage, Inc. is Released from Bankruptcy; Company Retires 240 Million Shares - 63% - of Its Outstanding Shares
2004-03-10 16:45 ET - News Release
BLUE ISLAND, Ill. -- (Business Wire) -- March 10, 2004
V-Net Beverage, Inc. (Pink Sheets:VNTB) announced today
that its Chapter 11 Bankruptcy proceedings filed in January, 2004 in
the Federal District Court of Northern Illinois has been dismissed.
The Courts decision came late last week.
In addition, V-Net announced it has retired 240 million shares
owned by the company's former President Michael Brette. The retirement
of shares, by mutual agreement, drastically reduces the total shares
outstanding by 63% from approximately 380 million shares to about 140
million shares. "The Court's decision gives us the ability to begin
immediately implementing our plans to increase shareholder value,"
said Robert Corr, the recently appointed President.
V-Net Beverage is a niche beverage company that privately labels
bottled water and specialty drinks for a variety of customers.
This press release contains statements, which may constitute
"forward-looking statements" within the meaning of the Securities Act
of 1933 and the Securities Exchange Act of 1934, as amended by the
Private Securities Litigation Reform Act of 1995. Those statements
include statements regarding the intent, belief or current
expectations of Specialized Leasing Inc. and Sassoon Group Inc., and
members of their management as well as the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. Important factors currently known to
management that could cause actual results to differ materially from
those in forward-statements include fluctuation of operating results,
the ability to compete successfully and the ability to complete
before-mentioned transactions. The company undertakes no obligation to
update or revise forward-looking statements to reflect changed
assumptions, the occurrence of unanticipated events or changes to
future operating results.
Contacts:
V-Net Beverages, Inc., Blue Island
Robert Corr, 708-389-6625
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