Heathrow Natural Food & Beverage, Inc. Announces Share Structure
Market Wire "US Press Releases "
LAKE MARY, FL -- (MARKET WIRE) -- 03/24/09 -- Heathrow Natural Food & Beverage, Inc. (PINKSHEETS: HRNF) is pleased to announce the current share structure as of today, as verified by its transfer agent. The current common shares outstanding are 220,146,013, of which 150,000,000 are restricted until March 20, 2010 . The float as of today is 70,146,013. The company does not plan on raising the float above 20% of it's authorized of 750,000,000 or 150,000,000. These additional shares will be used to retire the outstanding note with DLC Capital of $125,000 , which will make the company debt free and not require the further dilution of shares to pay down debt.
"With revenues expected to satisfy the companies capital needs over the next several years, convertible debt which causes tremendous dilution will not be necessary. As revenues permit, the company will initiate a share buyback program to bring the float down to 10% of authorized shares or 75,000,000. We strive to create shareholder value both through our share structure and Heathrow Natural Super Food products," said Michael Pagnano, CEO of Heathrow Natural Food & Beverage, Inc. "We will keep shareholders informed on a regular basis going forward though both press releases and the Investor Relations section of the companies new web site which is under development."
About Heathrow Natural Food & Beverage, Inc. :
Heathrow Natural Food & Beverage, Inc. , is a national distributor of natural food products such as Exfuze, a very popular nutritional beverage and the Heathrow Natural line of Super Food Products. HNFB is based in Florida and generates revenue through online and call center sales as well as over 128 distributors nationwide. HNFB also owns WGL Entertainment , the producer of the WGL Million Dollar Shootout reality television series.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact: Heathrow Natural Food & Beverage, Inc. 1-866-754-1115 Or call: Investor Relations 1-866-THE-APPL(E)
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