H3 Goes Long for $1 Million!
14 March 2006 - 7:39AM
PR Newswire (US)
H3Enterprises Signs JVA with Dininno Group for HipHopSodaShop
Development across Long Island NEW YORK, March 13
/PRNewswire-FirstCall/ -- H3Enterprises, Inc. (OTC: "HTRE") has
announced the signing of a Joint Venture Agreement with the Dininno
Group of New York that calls for the two Companies to jointly own
and operate H3's HipHopSodaShops throughout Nassau and Suffolk
Counties on Long Island. The Agreement also gives the new jointly
owned company the exclusive rights to fully develop any and all
HTRE related enterprises on the Island. The Dininno Group is owned
by noted NY Entrepreneurs Don Dininno, Mike Miniero, Dennis
Mineiro, Reid Goldstein, and Bernie Farsky, and will be paying HTRE
a one time consideration of $1,000,000 for the rights being
obtained in the JVA, the largest sum paid to date for development
rights for HTRE. "The HipHopSodaShops are perfectly positioned to
be the 'Next Big Thing' in franchising," said Don Dininno, founder
of the Dininno Group. "I can't say enough about the vision, timing,
and marketing genius that George Lois and Brian Peters have already
shown as a team, and I look forward to participating in their
brilliant business model. We're supremely confident in our combined
abilities to deliver on the promise of H3's culture changing
concept to the maximum benefit of all HTRE shareholders." "Adding
all the players involved with Don to TeamH3 is truly a blessing,"
said HTRE President and Founder Brian "H3" Peters. "Their proven
track record at the very highest level of American enterprise is
almost unparalleled. It's all about teamwork and I strongly believe
we could not have found better people or businessmen to help get
the SodaShops off to a blazing start in one of the most important
markets in America." "HTRE presents an enormous wealth of revenue
streams for the new joint Company to fully maximize," said HTRE
Director and Principal Stu Yachnowitz of New York who has put
together the Long Island development deal on behalf of H3 "We have
a number of SodaShop conversions already being lined-up with
existing restaurants and fast-food chains, and we expect to have
hundreds of major new outlets for our CyberSports, merchandise and
beverages in place in short order. We're all extremely impressed
with every aspect of H3's ten months of start-up operations and
look forward to sharing our future with HTRE's incredibly golden
opportunities." Last Friday, March 10, 2006, HTRE issued the
following statement regarding its transfer agent and number of
outstanding shares: "In February 2006, the Company changed its
transfer agent from Corporate Stock Transfer in Denver, Colorado,
to Colonial Stock Transfer in Salt Lake City, Utah. Following the
change, Colonial Stock Transfer, the Company and its legal counsel,
have determined that numerous documents relating to the issuance
and transfer of shares are missing and/or are incorrect, resulting
in the overstatement of the Company's outstanding shares in the
amount of 132,785,480.25, when the correct number should be
approximately 70,000,000 shares of common stock issued and
outstanding. The Company is currently working with its legal
counsel and transfer agent to effectuate the return and/or
cancellation of approximately 60,000,000 shares, and will keep its
shareholders and the market appraised of developments to that end."
This press release may contain forward-looking information within
the meaning of Section 27A of the Securities Act of 1933 or Section
21E of the Securities and Exchange Act of 1934 and is subject to
the safe harbor created by these sections. Certain information
included herein may contain statements that are forward-looking,
such as statements relating to plans for future expansion and other
business development activities. Such forward-looking information
is subject to changes and variations which are not reasonably
predictable and which could significantly affect future results.
Contact: 877-H3-Hiphop ask for Public Relations
http://www.hiphopsodashop.com/ DATASOURCE: H3Enterprises, Inc.
CONTACT: H3 Public Relations, 1-877-H3-Hiphop Web site:
http://www.hiphopsodashop.com/
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