Winners Internet Network, Inc. Board of Directors Meeting Addresses Various Concerns
ST. AUGUSTINE, Fla., Feb 27, 2001 (BUSINESS WIRE) -- David C. Skinner, Jr., President and CEO of Winners Internet Network, Inc. (OTC: WINR chart, msgs), today announced that a Board of Director's Meeting was held last week in Liechtenstein to address issues and concerns relating to the business operations of the Company.
At the meeting, the Company reported that despite its continued and timely fulfillment of all necessary forms, submittals and procedures in its efforts to get relisted on the OTC BB, delays by various authorities in responding to such submittals, and questions raised which required submission of additional responses and information, have continued to delay the process.
The Company also reported that it had made significant progress in expanding the scope of its processing business, but that the recent extremely rapid rate of growth had resulted in certain procedural and operational problems. Individual BOD members have been assigned to further investigate and explore these various issues in conjunction with management.
The Company also reported that it is exploring possibilities which could result in significant changes in the management and / or control of the Company. The Company anticipates that results of these various explorations should be reported back within the next 10-14 days, at which time additional information will be released regarding their status.
The Company and the Board also accepted the resignation of Markus Buechel from the Board of Directors for personal reasons. The Company intends to wait to find a replacement until the issues indicated above are fully addressed.
About Winners Internet Network
Winners Internet Network (www.winr.net) is a financial transaction processor and integrator, with processing operations based in Europe. Winners services both vendors and customers in the Internet-based e-commerce space with state-of-the-art secure financial transaction software and technology. Winners Internet Network also maintains a strategic partnership with and holds a 19% equity interest in SupraNet (www.supra.net), a private company based in Liechtenstein, which serves individuals and businesses throughout Europe, providing Dial-Up Internet Access, Leased Lines, DSL Connections, Hosting and Venue, E-Mail, and Encryption and Privacy Technology and Systems.
Disclaimer
Information contained in this news release - other than historical information - should be considered as forward-looking, pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, and as such is subject to various risk factors and uncertainties. For instance, Winners Internet Network, Inc.'s strategies and operations involve risks of competition, changing market conditions, changes in laws and regulations affecting these industries, and numerous other factors. Accordingly, actual results may differ materially from those in such forward-looking statements.
Contact:
Winners Internet Network, Inc., St. Augustine
David Skinner Jr., 904/824-7447
or
Stockholder Information/Investor Relations
Via E-mail:
dcsjr@winr.net
