HTBI: someone posted about this yesterday. More news
Hot Brands, Inc. Subsidiary, Enhanced Beverage Company Signs Management Agreement
Thursday June 24, 10:14 am ET
NAPERVILLE, Ill.--(BUSINESS WIRE)--June 24, 2004--Hot Brands, Inc. a publicly traded company (Pink Sheets:HTBI - News) announces its subsidiary; Enhanced Beverage Company, Inc. has entered into a management agreement with Independent Water Group, LLC as of May 15th 2004.
The mission of Enhanced Beverage Company is to specialize in the management, acquisition, re-capitalization, and reorganization of distressed or inactive beverage production and bottling companies and other related food-processing companies. Several potential acquisitions have been identified and negotiations are progressing.
Where as Enhanced Beverage Company, Inc. intends to operate the Business of Independent Water Group, LLC for an interim period. During this management period, Enhanced Beverage Company will manage the day-to-day operations of the business and shall direct, conduct and supervise its operations and maintenance activities during the management period. As well as market and sell products to distributors, consumers, and retailers. Obtain and renew all permits and approvals required from any governmental authority or agency, comply with all other similar laws and regulations relating to business operations. During the management period Enhanced Beverage Company agrees to provide and expend funds as needed for operation expenses for the production, delivery and sale of product.
Revenues for Enhanced Beverage Company will come from contract packing service, contracts in place, distribution of acquired brands, plus sales from the development and marketing of new exotic branded products.
Hot Brands, Inc.'s, entry into the $7.7 billion beverage industry through its wholly owned subsidiary, Enhance Beverage Company is unique considering the cost/value and the immediate revenue from the demand for alternative beverage solutions in the market place today.
Hot Brands, Inc. has been in negotiations for several months with potential candidates for key management positions, mass-merchandisers, as well as product development specialists.
Marc Fry, President and COO of Enhanced Beverage Company stated, "Our due-diligence and industry expertise tells us that we are entering into this opportunity, within the noncarbonated beverage industry, at a point where growth is beginning to accelerate."
Except for the historical information presented, the above statements are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 or regulations hereunder. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. These risks include the economic health of the restaurant and fast-food industries, competitive pricing pressures, completion of planned acquisitions and success at integrating and operating the acquired operations and the availability of necessary financing. These statements speak only as of above date, and Hot Brands, Inc. disclaims any intent or obligation to update them.
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Contact:
Hot Brands, Inc.
Clayton Smith
(971) 506-9156
The only thing i am suggesting here is that your own DD is a precious thing to you and me :)
