Press Release Source: HE-5 Resources, Corp.
HE-5 RESOURCES CORPORATION PROVIDES UPDATES TO SHAREHOLDERS
Friday July 31, 0:00 am ET
New-York--(MARKETWIRE)—July 31, 2009 -- HE-5 Resources, Corp. (Other OTC: HRRN.PK - News) Provides Updates to Shareholders.
Dear Shareholders,
During the last quarter of fiscal year ending February 2009, In accordance with current rules and regulations and recognized accounting policies, HE-5 has completed the “Quasi-Reorganization” of the business assets and liabilities, to allow a reorientation of the Corporation’s new line and core activities.
The information in regards to the reorganization and disposal of assets and liabilities is disclosed in HE-5’s end of the year financial statements available on Pink Sheets in the filings section.
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 acquired for a sum of $5 Million (us).
About “Trading Barter Bank”
Trading Barter Bank is our Company’s core business Flagship Project. 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 intuitive 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.
Company Funding
During the first quarter of new fiscal year, HE-5 has received a sum of $150,000 in the form of a convertible debenture, to sustain its development and operation’s costs.
On June 3rd 2009, HE-5 announced the closing of a convertible debenture for the sum of $500,000 with Jameson Capital SARL.
On June 5th HE-5 announced the signing an agreement for a revolving line of credit of $1,000,000. The agreement was made 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’s promotional expenses.
Revenues
The revenue potential is highly promising, and we believe that our development strategy is viable and in market trends. We have planed our operations in different steps, for which the first phase includes the opening of our Corporate Flagship operation offices in North America.
In June 2009 the Company has sold its first franchise License Agreement to be launched simultaneously in America and in France with a new equity partner and operator. The license has been sold for a sum of $500,000 (US)
Material Events
On April 29th, HE-5 announced the imminent filing for name change to Trading Barter Corporation. During the same period of time, the Company entered into negotiations for the sale of a first license of TBB for the market of France. Subsequently, Management closed a major Corporate financing agreement and considering other business dealings in the works, management has been advised by its attorney’s that it is in the best interest of all to postpone temporarily the name change till the end of the year 2009.
Upcoming Events
The Company has completed all requisite disclosure documentation to become current information on the Pink Sheets. Management has remitted all Corporate disclosure documentation to its attorneys for their review and due diligence. Management anticipates proceeding with filing of their legal opinion before the end of next week.
The Company will then become Current Information. We invite our shareholders to see HE-5’s filings and Corporate disclosure information on Pink Sheets at: www.pinksheets.com
For more information please visit our Web Site at www.tradingbartercorp.com
Or call: Investor Relation at: 347-468-7343
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
or
info@he-5resourcescorp.com