XELR8 Holdings Provides Update on Corporate Developments and June Distributor Growth
12 July 2006 - 4:08AM
PR Newswire (US)
Company Expands Board with Appointment of AJ Robbins, C.P.A. as
Independent Director DENVER, July 11 /PRNewswire-FirstCall/ --
VitaCube Systems Holdings, Inc., d/b/a/ XELR8 Holdings, Inc.
(AMEX:PRH), a provider of functional foods, beverages and
nutritional supplements, today announced the appointment of AJ
Robbins, C.P.A. as a new independent member of its Board of
Directors and Audit Committee. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050926/FLM015LOGO ) With a
professional career in the accounting field spanning nearly 40
years, Robbins currently serves as the managing partner of the
independent accounting firm of AJ. Robbins, P.C., a firm he founded
in 1986. His practice focuses on providing accounting and auditing
services for both public and private companies. He has substantial
experience in public offerings, venture capital financings and
mergers and acquisitions, and counsels clients operating in a broad
range of industries, including technology, construction, real
estate, sports teams, manufacturing, financial services and
biotechnology. Holding CPA certifications in Colorado, California
and New York, Robbins also serves as an expert witness in federal
and state courts for SEC matters, business valuation disputes,
marital disputes, lost earnings and other issues. He is a graduate
of Brooklyn College of the City University of New York, where he
earned a Bachelors of Science degree in Accounting. "We are pleased
to welcome AJ to our Board of Directors and expect that he will
play a very productive role in helping to guide XELR8's future
growth strategies," stated Earnest Mathis, Chairman and CEO of
XELR8. "Not only does his appointment further enhance the
independence of our Board, but his depth of experience in public
accounting and finance should serve to greatly complement and
strengthen our Company's leadership." In other news, XELR8 also
reported that that the Company increased the number of new
distributors in its national direct selling network to 2,722 as of
June 30, 2006 -- up 150 over the 2,572 total distributors reported
for May and up 856 year-to-date. "Later this month, we will be
hosting our major network leadership event in Aspen, Colorado,
where XELR8's top producing distributors will be recognized for
outstanding sales achievement," noted Mathis. "This should prove to
be a highly energized event, where our sales leaders and Company's
management team will collaborate on new marketing initiatives,
product expansion concepts and incentive programs to promote
greater distributor and revenue growth in coming quarters." About
XELR8 Holdings, Inc. VitaCube Systems Holdings, Inc., d/b/a/ XELR8
Holdings, Inc., is a provider of nutritional foods and beverages
designed to help enhance physical health and overall performance.
XELR8 has developed a comprehensive line of nutritional supplements
and functional foods designed in systems that are easy to take,
simple to understand, and conveniently fit within a lifestyle.
XELR8's commitment to quality, science, and research has earned
them a loyal following of over 350 world-class athletes and an
elite list of endorsers, such as five-time Cy Young Award Winner
Randy Johnson; Super Bowl Champions Mike Alstott, Lawyer Milloy and
Head Coach Mike Shanahan; professional football superstar Cadillac
Williams; Olympians Briana Scurry and Caroline Lalive; Stanley Cup
Winner Blake Sloan; and PGA Tour Professional Tom Pernice, Jr.
XELR8 products are only available through independent distributors
located throughout the nation. For more information about XELR8,
please visit http://www.xelr8.com/ . Forward-looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including prospects for XELR8's distribution network. Actual
results may differ from those discussed in such forward-looking
statements. These forward-looking statements include risks and
uncertainties that include the Company's ability to attract and
retain distributors; changes in demand for the Company's products;
changes in the level of operating expenses; changes in general
economic conditions that impact consumer behavior and spending;
product supply; the availability, amount, and cost of capital for
the Company; and the Company's use of such capital. More
information about factors that potentially could affect the
Company's financial results is included in the Company's filings
with the Securities and Exchange Commission, including its Annual
Report on Form 10-KSB for the year ended December 31, 2005 and all
subsequent filings. Certain statements in this release regarding
the Company's agreements are in accordance with the guidelines
established by the Federal Trade Commission for endorsements in
advertising. Company Contacts: VitaCube d/b/a XELR8 Holdings, Inc.
Earnest Mathis, CEO 303-316-8577, x228 Elite Financial
Communications Group, LLC Dodi Handy, President and CEO
407-585-1080
http://www.newscom.com/cgi-bin/prnh/20050926/FLM015LOGO
http://photoarchive.ap.org/ DATASOURCE: XELR8 Holdings, Inc.
CONTACT: Earnest Mathis, CEO, VitaCube d/b/a XELR8 Holdings, Inc.,
+1-303-316-8577, ext. 228, or ; or Dodi Handy, President and CEO,
Elite Financial Communications Group, LLC, +1-407-585-1080, or ,
for XELR8 Holdings Web site: http://www.xelr8.com/
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