News --- SUFFER Shareholder Information Update
LAS VEGAS, NV -- (Marketwire)
05/13/10
SUFFER (PINKSHEETS: ENTK)
Suffer president Joseph Lewis came in contact with Envirotek several months ago while searching for environmentally friendly water based inks for screen-printing. During this time the expiration of government and state tax credits created an undervalued price of Envirotek, which became attractive to the rapidly growing apparel company, thus an acquisition of the company was negotiated.
Assets
As part of the acquisition Suffer will retain certain assets related to environmentally friendly inks and dyes for potential use.
All other assets, contracts, and liabilities have been acquired by Intellectual Resource Corp. Suffer will be not be receiving royalties or monies from the transaction
with Intellectual Holdings Corp.
Previous Board Members
All board members of Envirotek have officially resigned their position(s) with the former company, and will not be receiving positions in the new company Suffer. No compensation is being paid to any prior board member now or in the future for the acquisition.
Control Shares
All non-trade able preferred control shares have been transferred to the new BOD.
Former President Robert Thompson also surrendered his restricted common shares held in Envirotek to the new BOD for an undisclosed amount of compensation as part of his acquisition.
Share Structure
The share structure that was in place for Envirotek shall remain in place. Suffer has no intentions of diluting or changing the share structure at the present time.
Safe Harbor Statement: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as SUFFER (ENTK) or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
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