Press Release Source: HE-5 Resources, Corp.
HE-5 RESOURCES CORP./(TRADING BARTER CORP.) Publishes a Corporate Statement to its Shareholders, in Preparation of Company Disclosure To Become “Current Information” on Pink Sheets.
Tuesday June 23, 7:30 pm ET
New York--(MARKET WIRE)—June 23, 2009 -- HE-5 Resources, Corp./ Trading Barter Corporation (Other OTC: HRRN.PK - News) Published tonight a Corporate Statement to Shareholders, in preparation of Company Disclosure To Become “Current Information” on Pink Sheets.
Corporate Statement
HE-5 Resources Corp is a Nevada State Corporation constituted in 1995 and currently trading on the (OTC-Pink Sheets) under the symbol (HRRN.PK). At the end of our fiscal year, February 2009 there was a total of 133,238,408 Outstanding Shares. HE-5 has 529 shareholders to record and the float represents an approximate total of 39,038,408 as of Feb 2009. HE-5 is current in all of its filings and in “Good Standing”
“About HE-5 Resources Corp/Trading Barter Corp”
· During the last quarter of our new fiscal year, In accordance with current rules and regulations and recognized accounting rules, HE-5 has completed the “Quasi-Reorganization” of the business assets and liabilities, to allow a reorientation of the Corporation’s core activities. The information in regards to the reorganization and disposal of assets and liabilities, is disclosed in our last financial statements available on Pink Sheets or in the financial section of our Company’s corporate web site at www.tradingbartercorp.com
· In the first quarter of our new fiscal year, on March 16th, the Company announced the acquisition of the Intellectual property and exclusive rights of the “Trading Barter Bank” Business. The agreed value of the Intellectual property transfer has been concluded for a sum of $2, 4 Million. The acquisition/Joint Venture agreement includes the issuance of 80,000,000 restricted shares at a $0.03 value, and other financial components such as note conversion settlements, and other financial instruments. In our next quarter financial statements, the “Intellectual Property” will be accounted as a long term increasing asset, for the initial value of $2, 4 million.
Filings for Pink Sheets “Current Information” Up Listing
· The Company Attorneys’ have been revising our Corporate Documentation, and all requisite disclosure documentation accessing Pink Sheets “Current Information Status, will be made in beginning of July 2009 jointly with the filing of our first quarter financial statements, and “Intellectual Property” Transfer evaluation statements.
· The revenue streams’ potential is highly promising, and we believe that our development strategy is viable and achievable. We have planed our operations in different phases, for which the first step includes the opening of our Corporate Flagship operation in North America, combined with the first License agreement Venture Franchise to be launched simultaneously in France with a new equity partner and operator. Once TBB will have launched its operations, Management intends to instigate a Co-Federation program, for expansion of its Barter activities to access other markets, and build more value for our shareholders and partners.
Filing for Name Change to “Trading Barter Corp”
· On April 29, HE-5 announced the imminent filing for name change. Meanwhile, the Company entered in negotiations for the sale of a first license of TBB, and concluded a major Corporate financing agreement. Management, has deemed in the best interest of the shareholders, to first complete the transactions, and subsequently proceed to Name Change filing when the Company will be “Current Information” on the Pink Sheets.
Company Funding
· On June 3 2009, HE-5 announced the closing of a convertible debenture for the sum of $500,000 and signing an agreement for a revolving line of credit of $1,000,000. The Company has completed the final agreement for a $ 1,000,000 revolving line of credit with Jameson Capital SARL. The Company will utilize the line of credit only when operational functionalities of the Trading Platform will be in trading commerce mode, in both French and English version. Jameson Capital and HE-5 have formally agreed that this line of credit will only be utilized for the platform promotional expenses.
· Also, Jameson Capital is the majority shareholder of “Trading Barter Bank” France sarl, therefore the Convertible debenture has been facilitated by Jameson to help supporting the go to market activities of the 2 TBB Launch. HE-5 has received a first sum of $250,000 to cover all expenses regarding marketing campaigns, strategic acquisitions, sales development, and hiring more staff, until the "Trading Barter Platform" will begin to generate revenues.
Financial Statements
· Following the publication of our annual financial statements, the Company had no revenues neither any assets. In the first quarter of 2009, the Company will value the intellectual property at a initial book value amount of US$2,400,000, and when the platform will be operational, the Company will retain the services of a third party certified and accredited firm to evaluate the complete software suite and trading transactional operational manuals for Business potential value. The Company will file its first quarter report by the end of June 2009.
About Trading Barter Bank
“UNITED BUSINESS TRADERS”
Trading Barter Bank is our Company’s core business Flagship Project. During the first quarter of 2009, HE-5 acquired TB Bank software intellectual property and exclusive world distribution rights. This exclusive Virtual Transactional Platform offers unique and proprietary features for secured transactions of sales of products and services, for which the members can pay for in cash or in Trading Barter Dollars.The intelligent software platform has been conceived on a modular base to allow integration of open source information and multiple linkages to partners and co sponsors content to provide fast and environment is the main traffic generator regrouping pools of knowledge and services and daily offers to active and working entrepreneurs and workers.
This redeemable service environment, compiles the active information of profiles on many data bases, and directs series of Reactive information back to the member. Joining TB Bank will enable you to integrate a large Business Community providing multiple openings and opportunities, made instantly available for our Member information or needs, on a first class and state of the art international Trade Commerce Exchange and Service Hub.The integration of local content such as: news, weather, financial markets, reports and many others, contribute to develop the relationship with the consumer and build the business exchange community of tomorrow and a strong feeling of belonging to the community.
Merchants will be able to process their sales/purchases requests directly through our multitask trading hub, featuring your offers instantly online and available for trading upon your specifications. Your goods will be displayed and presented to millions of buyers worldwide every day.
Trading Barter Bank is a New Virtual Business Community Service Environment, having for main principal objective to provide today’s new business entrepreneurs, and active working people, an Innovative online Trading Exchange platform.
TBB has been built by a multidisciplinary team, combining decades of Trading and Bartering experience, and new fresh Commerce Breath of Web traders, Webmasters and Web users. People who have jointly exchanged information, knowledge and opinions, to generate a collective meeting of the minds for our common and individual vision: “To serve the future needs of all”.
TBB offer member’s personalized profile and communicational services, customized to offer specialized business exposure, trading tools and a wide array of information and intuitive positioning tools and links helping the users to integrate the community and benefit from the members interaction of the Community.
Be part of the new visionaries of our Century and join TBB people the “United Business Traders”
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
Contacts:
info@tradingbartercorp.com
info@he-5resourcescorp.com
www.he-5resourcescorp.com
Quick Response Agency
Investor Relation
1-347-468-7343