BHWW News!!
LAS VEGAS, March 28, 2005 (PRIMEZONE) -- Strictly Business Inc. (SBI), a
Nevada-domiciled company which specializes in the takeover and restructuring of
mismanaged public companies, announced today that that the large volume of
trading that occurred on Wednesday and Thursday, March 23 and 24, is a part of
the implementation of its plan to take over the management and control of
Beverly Hills Weight Loss and Wellness Inc. (OTCBB:BHWW).
SBI Chairman, Ron Ray asserts that "the primary reason for the takeover of BHWW
is that the company is being mismanaged by current management, and the
shareholders are systematically being deprived of an opportunity to derive value
for their investment. A main area of concern by SBI relates to the issuance of
shares to Insiders in exchange for questionable debt."
SBI has commenced negotiations with the current board of directors, and is in
the process of negotiating the terms and conditions relating to the resignation
of the board and the appointment of a new board, to become effective
immediately, as well as the cancellation of shares that may have been issued
without adequate consideration.
It is the intention of the officers and directors of SBI to assume control of
BHWW, through a vote of the shareholders, and to appoint new management through
a change in the Board of Directors. Once the areas of mismanagement have been
resolved, BHWW will be restructured for a potential merger with a private
company that has already been targeted.
The target company is in the health fitness and wellness industry, and is
currently generating revenues, and is profitable which will increase shareholder
value.
The merger of these companies will not only provide the target vehicle access
the capital markets, but will increase the share value for all of the current
shareholders who may have been victimized by current management.
SBI will issue future releases as additional information becomes available as it
relates to the company and its management.
CONTACT:
Strictly Business Inc.
Ron Ray, Chairman
(512) 825 4737
