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RSHN 0.0005 0.00
Today 5d 1m 3m 1y 5y 10y
RushNet, Inc. Issues Letter to Shareholders
RushNet, Inc. (Pink Sheets:RSHN.PK) president Robert J. Corr issued the following statement to stockholders of the company.
Dear Shareholders:
In response to numerous calls and letters, I take this opportunity to
apprise stockholders of the current status of our company and our
plans going forward. At once let me say I have had the pleasure of
talking to many of you since January 2004, the first month of my
tenure at RushNet, Inc. The company welcomes your input and
suggestions. We're all on the same team here, as I am a shareholder
too.
Share Structure
As of 30 November 2005:
Public Float: 1,272,418,582 shares
Restricted (Management Owned): 719,133,280 shares
Issued and Outstanding: 1,991,551,862 shares
Authorized Shares: 4,000,000,000
The company recently authorized an increase from two to four billion
shares total. This increase allows RushNet, Inc. to act in the best
interests of shareholders by securing a partner who can adequately
finance the company's ambitious growth plans. To this end, we have
retained a capital management firm to guide us to a private placement
partner. The expected market penetration and profitability resulting
from such a partnership should benefit us all with increased share
value.
Pursuant to a successful private placement, we expect the company to
be owned--one-third by regular stockholders, one-third (restricted
shares) by management, and one-third (restricted shares) by the
private placement partner(s).
Trade Data
RushNet, Inc. currently sells four products in the marketplace:
Ginseng Rush(TM), Ginseng Rush XXX(TM), Rush Cola(TM) and e-water(TM).
Trade show and market activity since summer 2005 has ballooned the
company's invoices to nearly $100,000. These represent a mix of new
orders and re-orders from billion-dollar food and beverage
distributors across the nation. We expect order flows to continue and
increase. Trade payables equal approximately $30,000.
For December 2005, we anticipate:
1) a scheduled sample bottling run of e-SportO2 Water(TM), an advanced
alkalinizing sports drink. (Distributors to receive samples in January
2006.)
2) the reformulated version of Rush Cola(TM), an all-natural cola
blended with ginseng and herbs, to debut in Canada;
3) new items Ginseng Rush(TM) Capsules and Ginseng Rush XXXX(TM)
Extract to debut in the United States.
4) growing the e-water(TM) brand through royalty license agreements
with regional bottlers. We are currently in negotiations with one such
bottling firm.
Conclusion
Finally, let me reassure stockholders that your management team is
working diligently to assemble a dynamic portfolio of truly innovative
and healthful all-natural beverages and dietary supplements. We know
the market is eager for such products. It is precisely because of the
enthusiasm and demand for our offerings that we need to take
additional steps which can, we trust, establish our expanding product
lines as truly national brands.
Yours faithfully,
Robert J. Corr
President
RushNet, Inc.
RushNet Inc. is the licensed marketing agent for Rush Beverage Company products and brand owner of e-water(TM). www.enjoytherush.com
Disclaimer: The Company relies upon Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
RushNet, Inc.
Robert Corr, 708-389-6625
Source: Business Wire (December 1, 2005 - 3:35 PM EST)
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