Ms. Higgins moved for the acceptance of her resignation as officer and CFO of the Company. Her resignation was accepted unanimously by the Board.
Mr. Ryerson moved for the acceptance of his resignation as officer and General Counsel of the Company. His resignation was accepted unanimously by the Board.
Mr. Higginbotham moved for the acceptance of his resignation as officer and CEO of the Company. His resignation was accepted unanimously by the Board.
Due to the continued costs associated with litigating the suit filed against the Company and its directors by Mr. James Ryan, the board moved for the cessation of normal operations of the company and the redirection of any and all available funds to cover the legal costs associated with the aforementioned litigation. The motion was passed unanimously.
FORWARD-LOOKING STATEMENTS
The information in this news release
includes certain forward-looking statements that are based upon assumptions
that in the future may prove not to have been accurate and are subject to
significant risks and uncertainties, including statements related to the future
financial performance of the Company. Although the Company believes that
the expectations reflected in the forward-looking statements are reasonable, it
can give no assurance that such expectations or any of its forward-looking
statements will prove to be correct. Factors that could cause results to
differ include, but are not limited to, successful execution of growth
strategies, product development and acceptance, the impact of competitive
services and pricing, general economic conditions, and other risks and
uncertainties described in the Company's periodic filings with the OTC Markets.