Hey gang, I do not believe the answers to some of the questions. Steve claims he owns the patents. If Liberty Diversified Holdings, Inc. Acquires Assets of XND Technologies, Inc. and Announces New Corporate Structure and Direction Nutripure owns the patent and that is the battle. Steve filed the restraining order to try to get the patent rights back. If that's the case this is in the courts for sometime.
ORANGE, Calif., Dec. 13 /PRNewswire-FirstCall/ Liberty Diversified
Holdings, Inc. (Pink Sheets: LDHG) announced yesterday that it has acquired
100% of the assets of XND Technologies, Inc. (XND), an Arizona corporation,
including all of its proprietary formulations, patents and trademarks, and its
existing production and distribution systems. XND has been working to produce
and distribute a line of nutrient-enhanced bottled water products that contain
no calories, no carbohydrates, no colors and most importantly, no flavors
other than pure water, and does this using a process that is more efficient
and less costly than others currently in use. This concept is unique because
no other producer adds organic nutrients without also adding masking flavors,
colors or sweeteners. Now that these agreements are finalized, Liberty will
immediately redirect its entire efforts to the premium bottled water industry
and bringing to market a full line of
nutrient-enhanced water products to compete with currently available products
such as VitaminWater and SmartWater. Initial products are expected to include
those enhanced to provide vitamin support for general health, a diet
formulation for weight watchers, an immune booster, an energy and fitness
drink, and others. Liberty is also in the final stages of negotiations for
the acquisition of assets for a second water company, and a further
announcement regarding that transaction is expected very soon.
Liberty acquired the assets of XND in exchange for stock and no cash was
involved in the acquisition. As a result of the transaction, controlling
interest in Liberty has been passed to the stockholders of XND. Liberty will
immediately apply for a name change to reflect its new direction in the
bottled water business and Liberty's current officers and board will remain in
place until the name change is complete and no later than December 31, 2007.
Once the new name is in effect, Mr. Steve Nickolas, the current CEO and
President of XND, will be appointed President, CEO and Chairman of the Board
of the Company, and a new Board of Directors will be established. At that
time, Mr. Ron Touchard and Dr. Michael Brown, Liberty's current CEO and
President, respectively, will step down from their positions as officers and
directors of the Company but will remain with the Company in other positions
to be announced later.
Incoming Chairman, President and CEO Steve Nickolas is a 30-year veteran
of the beverage and bottled water industry who has worked as a beverage
consultant and in a variety of management positions, including assignments at
Anheuser-Busch, Nestles, Whitlock Packaging, Proctor & Gamble and Suntory.
Mr. Nickolas opened the first bottled water company in Hawaii in 1980 and by
1990 had developed water companies around the world including Micronesia,
Indonesia, the Philippines, Israel, Germany and several in the U.S. He later
founded Apani Bottled Water Co., a new bottled water concept using small
packaging PET bottles, which he grew to over $35 million in annual sales. He
is also the Founder and President/CEO of XND Technologies, Inc. Mr. Nickolas
has a B.S. degree in Political Science and Economics from the Claremont
Colleges and has completed postgraduate work at Claremont Graduate School and
Cal Poly Pomona in Government and Psychology.
Commentary
In response to this announcement, Ronald C. Touchard, Chairman and CEO of
Liberty Diversified Holdings, Inc., commented, "We are very pleased to
announce to acquisition of the assets of XND Technologies, Inc. The structure
of these acquisitions will integrate the assets of Liberty and XND into a
single company, which we feel is a much better situation for us on the market
place, and our new name and change of management signals our full commitment
to our new corporate direction. We are also pleased to introduce our incoming
Chairman and President/CEO, Mr. Steve Nickolas, who we believe has the ideal
expertise and experience to lead the company to success as we become a major
player in the premium bottled water industry. We are now moving ahead full
steam to secure the necessary funding to scale up operations and we are more
excited than we have ever been about both the near and long-term future of our
company."
Mr. Nickolas added, "This is a very exciting day for us. We have worked
very hard at XND to develop an outstanding line of products and to position
ourselves for rapid entry and expansion in large and fast-growing industry.
The acquisitions of these companies' assets by Liberty Diversified Holdings,
Inc. provide us with the best of all possible worlds. Our current management
team will remain in place to see this vision through to completion, while
Liberty's access to capital markets will allow us to move forward much more
quickly than otherwise possible. Now that this integration is complete, we
look forward to making many additional announcements in the very near future."
For more information call (949) 376-4846 or visit
www.libertydiversifiedholdings.com (a new website reflecting the company's new
name will be released shortly).
Caution Regarding Forward-Looking Statements: This press release includes
forward-looking statements concerning the future performance of our business,
its operations and its financial performance and condition, and also includes
selected operating results presented without the context of accompanying
financial results which are not yet available. These forward-looking
statements include, among others, statements with respect to our objectives
and strategies to achieve those objectives, as well as statements with respect
to our beliefs, plans, expectations, anticipations, estimates or intentions.
These forward-looking statements are based on our current expectations. We
caution that all forward-looking information is inherently uncertain and
actual results may differ materially from the assumptions, estimates or
expectations reflected or contained in the forward-looking information, and
that actual future performance will be affected by a number of factors,
including economic conditions, technological change, the integration of
acquisitions, regulatory change and competitive factors, many of which are
beyond our control. Therefore, future events and results may vary
significantly from what we currently foresee. We are under no obligation (and
we expressly disclaim any such obligation) to update or alter the
forward-looking statements whether as a result of new information, future
events or otherwise.
SOURCE Liberty Diversified Holdings, Inc.
Liberty Diversified Holdings, Inc., +1-949-376-4846
