Millennium Electronics, Inc. Completes Acquisition of Operating Assets
14 February 2004 - 11:28AM
PR Newswire (US)
Millennium Electronics, Inc. Completes Acquisition of Operating
Assets SALT LAKE CITY, Feb. 13 /PRNewswire-FirstCall/ -- Millennium
Electronics, Inc. announced today that it has acquired the business
and assets of Speaking Roses, LLC (BULLETIN BOARD: SRII) , an Idaho
limited liability company that held proprietary technology for
embossing flowers and floral products. The acquisition was part of
a series of transactions we completed on February 6, 2004 and which
included a change of our state oforganization from Nevada to Utah,
effected a 16.859-for-1 reverse split of our outstanding shares
(resulting in approximately 1,117,207 outstanding shares),
increased our authorized capital to 30 million preferred shares and
70 million common shares and changed our name from "Millennium
Electronics, Inc." to "Speaking Roses International, Inc."
Concurrently, with those transactions, we acquired all of the
business and assets of Speaking Roses, LLC in exchange for
20,551,264 post-split common shares and issued an additional
1,237,500 post- split common shares in a private placement. The
private placement and the acquisition of the assets were each
conditioned on the other transaction taking place, as well as the
preliminary change of domicile transactions. In connection with
closing of the transaction, the former management of Speaking
Roses, LLC became our operating officers and directors. These
officers and directors include: Blaine Harris, who will act as our
president, chief executive officer and chairman of our board of
directors. Mr. Harris previously acted as the manager and chief
executive officer of Speaking Roses, LLC and was the chief
executive officer of TFL, a personal money management, education
and training company. Rene Rodriguez, who will act as our chief
operating officer and as a director. Mr. Rodriguez was one of the
founders of Speaking Roses, LLC, and has acted as its chief
operating officer since 2001. Between 1999 and 2001, Mr. Rodriguez
developed the floral embossing technology that we acquired in the
transactions. Kenneth D. Redding, who will act as our executive
vice president, a position that he also held with Speaking Roses,
LLC. Before joining Speaking Roses, LLC, Mr. Redding was the
president of TFL. Roland N. Walker, who will act as a director. Mr.
Walker is one of the founders of Speaking Roses, LLC and currently
serves in a variety of a management and executive positions,
primarily relating to his agricultural and real estate development
operations in the State of Idaho. Terrill A. Lassetter, who will
act a director. Mr. Lassetter has been a business consultant since
1987 and between 1953 and 1987 was employed by IBM, where he held
various engineering and management positions. Robert E. Warfield,
who will act as a director. Between 1975 and 2003, Mr. Warfield was
the regional manager for Moore, Warfield and Glick Realtors. Mr.
Warfield is also a certified residential broker with over 35 years
of experience in sales, management and realestate activities. Our
shareholders and directors approved the change of domicile
transaction, private placement and asset acquisition in December
2003. Prior to the consummation of the transactions, we conducted
no active business operations. Usingthe assets and operations we
acquired from Speaking Roses, LLC, we intend to license our
embossing technology to large wholesale flower concerns, chain
stores, and retail florists. According to Mr. Harris, our new
president, "We are very excited aboutour new direction. We are
looking forward to bringing a new and unique concept to the multi-
billion dollar floral industry." Cautionary statement for purposes
of the "Safe Harbor" provisions of the Private Securities
Litigation Reform Act of 1995: Statements made in this press
release, which are not historical in nature, constitute
forward-looking statements for the purposes of the safe harbor
provided by the Private Securities Litigation Reform Act of 1995.
These include statements regarding ourintent to conduct certain
business operations, to commercialize the proprietary technology we
acquired from Speaking Roses, LLC and other matters relating to our
future business operations. These statements are based on
management's current expectations and beliefs and are subject to a
number of factors and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements, such as our ability to develop a market for our
products, the acceptanceby the public of the floral embossing
product concept, performance by third parties of their contractual
obligations to us, and our ability to manage growth, technological
change and competitive factors. All information in this press
release is as of February 15, 2004, and we undertake no duty to
update this information. A more complete description of the risks
associated with our historical business operations can be found in
our filings with the Securities and Exchange Commission.
DATASOURCE: Speaking Roses, LLC CONTACT: Joseph Featherstone, VP
Marketing/PR of Speaking Roses, +1-801-677-7673,
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