MANASSAS, VA, July 6, 2011 /PRNewswire/ - 8000 Inc. (EIGH.pk)
today announced the replacement of Thomas
Kelly (currently President, Chief Executive Officer,
Secretary and Treasurer) with immediate effect via a majority (52%+
certified) shareholder vote.
8000 Inc. also announced the concurrent appointment of
Jonathan Bryant as Chief Executive
Officer, President, Secretary and Treasurer to replace Mr. Kelly in
his multiple roles. Mr. Bryant has served as the consultant
for the Company post the temporary trading suspension on
November 4, 2010 and undertaken the
Company's assessment of the SEC Inquiry regarding adequate
disclosures and, more recently the Company belief that its stock
(EIGH.pk) is being manipulated by others in the market, including
broker-dealers.
Given this change of control as well as the abandonment of prior
contemplated operating subsidiaries, Mr. Bryant expects to
undertake a go forward review, including the appointment of further
members to the board and realign the Company's business focus. The
Company, for example, intends to concentrate on Brand8000 and the
viability of a cotton mill and production facility in Barbados to service the fabric needs of
Brand8000 clothes production. Additionally, Mr. Bryant believes it
will be possible to attract (i) an established Consultant to assist
with the Company's market strategy and (ii) cash investment into
the Company to facilitate its new plans and focus.
Mr. Bryant's first act will be to immediately pursue, hopefully
with SEC and/or FINRA assistance, the shareholder approved
cancellation of Shareholder stock held in E*Trade accounts.
If the foregoing efforts can be properly put in place, the
Company believes it will allow for the delivery of a clear route
forward for the Company and allows Thomas to concentrate further on
his own growing business.
The Company thanks Tom for his service over the last 2 years and
wishes him every success in the future.
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This news release contains forward-looking
statements that are subject to certain risks and uncertainties that
may cause actual results to differ materially from those projected
on the basis of such forward-looking statements. The words
"estimate," "project," "intends," "expects," "believes," and
similar expressions are intended to identify forward-looking
statements. Such forward-looking statements are made based on
management's beliefs, as well as assumptions made by, and
information currently available to, management pursuant to the
"safe-harbour" provisions of the Private Securities Litigation
Reform Act of 1995. For a more complete description of these and
other risk factors that may affect the future performance of 8000
Inc., see published disclosure documents at www.OTCMarkets.com
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date made
and the Company undertakes no obligation to disclose any revision
to these forward-looking statements to reflect events or
circumstances after the date made or to reflect the occurrence of
unanticipated events.
SOURCE 8000inc.