InCapta Inc (INCT)

[murmel007]

(OTCBB: TGLN) Controlling Stockholders to Return 40% of Outstanding Common Stock to TBC Global News Network; Comments on 10Q


FT. LAUDERDALE, FL--(Marketwire - May 26, 2010) - TBC Global News Network (OTCBB: TGLN) is pleased to announce the decision by Arlene and Glenn McMachen, the controlling stockholders of the company, to return collectively 1.5 billion shares of common stock to the company for cancellation and return to treasury. Glenn McMachen, CEO of the company, stated, "In an effort to reduce the risks inherent in a reverse split, we have decided to return these shares to the company." Mr. McMachen further stated, "In this economy, a reverse split at this time would not be advantageous to stockholders." The return of shares to treasury has increased the ownership percentage by non-affiliated stockholders by approximately 40%. The shares in question have been sent to the company's transfer agent today for cancellation.

Glenn Further comments on 10Q, "The 10Q filed this week represents the closure of the prior business model of TBC Global and does not show any revenues of its subsidiary, Sterling Yacht Sales, Inc., which is the only operating entity remaining in the company (it began such operations in the second quarter). We intend to change the name of the company and update all pertinent information. We plan on announcing a conference call with shareholders in June to bring all shareholders up to speed on the company and address all questions and concerns."

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the company's Form 10-K filing and other filings with the U S. Securities and Exchange Commission (available at http://www.sec.gov). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.