HUDSON AND GRANDE ENTER INTO DEFINITIVE AGREEMENT TO REACQUIRE HALL OF FAME BEVERAGES, INC.
06 Março 2014 - 5:42PM
OTC Markets
First Hudson Trust
of New York, a
Massachusetts trust operating under the laws of the State of
Oklahoma
("First Hudson"), and Electronic Merchant Systems Rochester, Inc.,
a
New York corporation ("EMS"), are pleased to announce they have
agreed to reacquire Hall of Fame Beverages, Inc. (US.HFBG.PK)
("Hall of
Fame").
Michael P. Grande, the Chairman,
President, and CEO of EMS, and Randolph S. Hudson, the Managing
Administrative
Trustee of First Hudson, are anxious to begin planning for the
reintroduction
of Hall of Fame's former product line, but, also, Mr. Grande has
been in
negotiations with several suppliers to manufacture and distribute a
new
THC-based beverage in those states where the sale of such products
is permitted.
Mr. Grande said, "There are lots
of
companies claiming to be in the cannabis business in one fashion
or
another.
Only time will tell as to
which
companies are truly engaged in the business as opposed to those who
are trying
to capitalize by being associated with the cannabis industry and
who have
nothing to offer but hype."
Mr. Hudson said, "Perhaps we
were premature in rushing to judgment on Hall of Fame; however,
given the fast
pace at which we are moving, there were certain inconsistencies
with Hall of
Fame's prior operations for which we could not provide adequate
explanations to
ourselves.
Our goal was not to confuse
or mislead shareholders of either Hall of Fame or other companies,
but we had
to make certain everything was in order with Hall of Fame and that
he [the
company's sole officer and director] could provide us with
adequate
explanations as to the company's past business and
experience.
Alex [Johnson] has done just
that.
And, as the company's sole
control
shareholder, I believe him."
The principals of Hall of Fame
spent a week, two weeks ago, at Mr. Grande's home in Upstate New
York.
During that visit, they carefully
reviewed
and explained Hall of Fame's history and the reasons the company
failed in
business under its previous management.
Mr. Grande said, "We always
knew that Hall of Fame was the stronger of the two companies that
we acquired
in the beverage business. While neither
company did anything in years, Hall of Fame owns and has rights to
the better,
more marketable products. As with
anything else, it is always a matter of "wait and
see".
In particular, Hall of Fame has
strong ties
with and endorsements by certain individuals with celebrity status
that can further
Hall of Fame's marketing in the long run.
Moreover, Hall of Fame will complement the
operations of all of our
other companies; particularly, Central Wireless, Inc. (US.CWIR.PK)
from a marketing
standpoint."
Hall of Fame must go through a
dynamic, yet thorough, (non-bankruptcy)
reorganization. Mr. Hudson said, "There are a
significant number of issues, both in terms of its operations
and
administration that must be timely addressed.
In addition, we must submit our conclusions in
these matters for
approval by regulatory and self-regulatory agencies, the outcome of
which is
uncertain.
There have been many
companies in the past that have orchestrated schemes to persuade
investors of
their integrity. We have to make certain
that all of the companies under our control are above-board,
without reproach. Moreover, many companies of late are
claiming
to be in industries other than for their designated purposes;
namely, the cannabis
business.
Any company that states it can
engage in that business overnight must be lying. These matters take time and are subject to
obtaining
multi-level regulatory approvals. As
with Hall of Fame, or any company, regardless of its field of
business,
investors should be very cautious and perform their due-diligence
prior to
investing.
They should seek the advice
of an attorney and licensed financial advisor before making any
investments in
these companies because of the enormous risks associated with these
companies;
particularly, true-penny stocks."
Over the course of the next three
months, Hall of Fame will be positioning itself to reenter its
field of
business and to perform extensive tasks to comply with a
significant number of
administrative issues.
Alex Johnson, Hall of Fame's
principal shareholder and its sole officer and director prior to
the
acquisition, will remain on Hall of Fame's Board of Directors and
will serve in
other capacities to the other companies under the aegis of The
Hudson and
Grande Organization.
Mr. Hudson added, "There is
no such thing as a 'gift horse'. Anything
worth having is worth fighting for and putting in a lot of time and
effort to achieve
the company's objectives. The old maxim
is true:
"If it sounds too good to
be true, it probably is.'"
For further information on the
matters contained in this announcement, shareholders and investors
are
encouraged to contact Mike Grande at (585) 967-3198 or Randy Hudson
at (585)
329-3581.
[This
announcement may
contain "forward looking" statements and the issuers of this
announcement seek "safe harbor" for their forward-looking
statements,
as such terms are defined in Section 21E and/or Section 27A of the
Act.
The
issuers of this announcement seek further
relief for their forward-looking statements as permitted under the
Private
Securities Litigation Reform Act of 1995.
As
with the securities of the companies mentioned in this
announcement
or otherwise, investors should seek professional advice regarding
any
investment in any company, as there are numerous risks associated
with any such
investment.
Nothing
in this announcement
is intended to solicit or offer to sell or buy, or to sell or buy,
the
securities of any company.]
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