Wednesday, July 06 2011 10:01 AM, EST 8000 Inc. Announces the Replacement of Thomas Kelly as Director and Officer (President, CEO and Secretary) by Jonathan Bryant as sole Director and Officer (CEO, President and Secretary) PR Newswire "Press Releases US - English"
MANASSAS, VA , July 6, 2011 /PRNewswire/ - 8000 Inc. (EIGH.pk) today announced the replacement of Thomas Kelly (currently President, Chief Executive Officer, Secretary and Treasurer) with immediate effect via a majority (52%+ certified) shareholder vote.
8000 Inc. also announced the concurrent appointment of Jonathan Bryant as Chief Executive Officer, President, Secretary and Treasurer to replace Mr. Kelly in his multiple roles. Mr. Bryant has served as the consultant for the Company post the temporary trading suspension on November 4, 2010 and undertaken the Company's assessment of the SEC Inquiry regarding adequate disclosures and, more recently the Company belief that its stock (EIGH.pk) is being manipulated by others in the market, including broker-dealers.
Given this change of control as well as the abandonment of prior contemplated operating subsidiaries, Mr. Bryant expects to undertake a go forward review, including the appointment of further members to the board and realign the Company's business focus. The Company, for example, intends to concentrate on Brand8000 and the viability of a cotton mill and production facility in Barbados to service the fabric needs of Brand8000 clothes production. Additionally, Mr. Bryant believes it will be possible to attract (i) an established Consultant to assist with the Company's market strategy and (ii) cash investment into the Company to facilitate its new plans and focus.
Mr. Bryant 's first act will be to immediately pursue, hopefully with SEC and/or FINRA assistance, the shareholder approved cancellation of Shareholder stock held in E*Trade accounts.
If the foregoing efforts can be properly put in place, the Company believes it will allow for the delivery of a clear route forward for the Company and allows Thomas to concentrate further on his own growing business.
The Company thanks Tom for his service over the last 2 years and wishes him every success in the future.
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This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of 8000 Inc. , see published disclosure documents at www.OTCMarkets.com Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
SOURCE 8000inc.
