BLUE ISLAND, Ill., Dec 01, 2005 NOT A NEW PR-REPRINT (BUSINESS WIRE) -- 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.
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