The Fight Zone Inc. Signs Letter of Intent With Gold Recycle Corp
13 March 2009 - 12:30AM
Marketwired
The Fight Zone Inc. (PINKSHEETS: TFZI) today announced that it has
signed a Letter Of Intent for a stock exchange with Gold Recycle
Corporation "GRC."
GRC's President Jim Epstein said, "With gold currently at an all
time high, we are very excited about taking GRC to the public
through the share exchange agreement with TFZI."
Epstein added, "Coming right out of the box in this 20 million
dollar a year market, we are positioned as Avis vs. Hertz. 'We Buy
Harder' than our competitor! What I mean by that is we have a
quicker, safer way for customers to send us jewelry, gold, silver,
platinum, diamonds, etc. And have 3 to 5 times higher payouts than
any pawnshops, jewelry stores or other 'as seen on TV' vendors. In
some instances our customers are paid the same day using Federal
Express."
The metals recycling business is the second biggest source of
gold, silver and platinum. An estimated $9 billion is spent on
jewelry every year in the U.S. alone. Worldwide, between 23% and
25% of the gold supply comes from recycling. That translates into
30 million ounces of gold into the global market from recycling
which equals $20 billion annually.
GRC Management is forecasting gross revenues of $2 to 4 million
in the first 12 months of operation.
The statements contained in this press release that are not
historical facts are forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934 ("the
Securities Act"), as amended and the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements may be
identified by, among other things, the use of forward-looking
terminology such as "believes," "expects," "may," "will," "should,"
or "anticipates" or the negative thereof or other variations
thereon or comparable terminology, or by discussions of strategy
that involve risks and uncertainties. In particular, our statements
regarding the anticipated growth of the company from our subsidiary
divisions, the anticipated longer-term growth of our business, and
the timing of the projects and trends in future operating
performance are examples of such forward-looking statements. The
forward-looking statements include risks and uncertainties,
including, but not limited to, the timing of revenues due to the
uncertainty of market acceptance and other factors, including
general economic conditions, not within our control. The factors
discussed herein and expressed from time to time in our filings
with the Securities and Exchange Commission could cause actual
results to be materially different from those expressed in or
implied by such statements. The forward-looking statements are made
only as of the date of this filing and we undertake no obligation
to publicly update such forward-looking statements to reflect
subsequent events or circumstances.
Contact: Buckeye Epstein 972-248-2244 Ext 103
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