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RBDC news...RBID.com, Inc. Releases Details of Recent Acquisition
Last update: 4/15/2009 1:56:00 PM
NEWPORT BEACH, Calif., Apr 15, 2009 (BUSINESS WIRE) -- RBID.com, Inc. (Pink Sheets:RBDC) has released further details regarding its recent acquisition of GLA International, Inc., which is now a 100% wholly-owned subsidiary of RBID.com, Inc. The acquisition was structured in such a way that there is no dilution of ownership for RBID shareholders, and RBID shareholders remain in control of the company and are assured a sizeable ownership position of GLA regardless of whether GLA remains a subsidiary or is eventually spun off as a separate entity. RBID's current float is 1,150,061,203 shares with 3,727,338,040 total outstanding.
GLA International, Inc. is a profitable and rapidly-growing direct sales company that markets and distributes health and nutrition products to a worldwide customer base. In first quarter of operations, GLA generated $455,765 in revenues and $81,404 in net profits and paid a stockholder dividend. For its first year of operations the company projects $8,163,430 in revenues and $1,992,408 in net profits.
GLA's products include Healthy Energy Drinks, Alkaline Water Systems, and Superfoods, all of which are marketed through a strong multi-ethnic distribution network. GLA also offers a grass roots distributorship opportunity, complete with full training and support coordinated through its Costa Mesa, California headquarters. GLA's existing management team will continue to run the day-to-day operations of the subsidiary, with RBID providing funding, management oversight, and additional resources as needed.
RBID CEO Alan Rothman commented, ""We believe that GLA International, Inc. is an ideal fit for RBID, giving us international reach with products that are both unique and timely." Ken Jones, CEO of GLA International, Inc., added, "This acquisition provides us with the best of all possible worlds. Our current management team will remain in place to see this vision through to completion, and RBID's management and marketing experience and access to capital markets will allow us to move forward much more quickly."