8000inc to deliver its planned progression in acquisitions,
projects and exchange progression in advance of expectations.
MANASSASS, VA, Sept. 28
/PRNewswire-FirstCall/ - As announced February 23, 2010, the 8000inc finance team
developed and agreed to a unique financing model utilizing
non-dilutable stock as collateral. Due to the progression of the
company, its operations and its increasing market value, the direct
result to the company and its shareholders is a US$40M cash windfall in relative earnings. The
exact figure will be known to the company October 3rd, 2010.
Although planned, the advanced realization of this option was
unexpected. It has always been the company's intent to finance the
first stages of progression without the need for issuing dilutable
stock for cash. This success has been achieved through the existing
planned and in-place mechanisms of 8000inc without the need for
increased collateral, stock dilution, decrease in shareholder value
or cash penalty to the company. This finance structure will
accommodate all company funding requirements based on market value
and operational performance. This is potentially limitless and
enables the company to engage growth at the highest levels. This is
simply the realization of the extremely well planned financial
structure and instruments implemented and put in place by 8000inc
from inception to accommodate and manage increased growth.
In line with announced corporate values, this windfall in
relative earnings will enable the company to not only proceed
unhindered with the development of the 8000inc Desmond Haynes Centers of Sporting Excellence
and the new 8000inc Corporate Headquarters, but will allow the
company to instigate its program to reduce and control its capital
structure, including public float and to facilitate its progression
to a higher exchange through its capitalization ensuring the
maintenance of shareholder equity. Specific announcements will
follow during the next financial quarter.
Thomas Kelly, CEO 8000inc,
stated, "When we began this journey, we had the simplest of core
values: Challenge current thinking, focus on delivering success,
and maintain value for our shareholders. We are exceeding all
targets set forth to date and we must thank our shareholders for
that. To be at a market valuation where we stand today, is
testament to the value given to us by our shareholders based on our
performance. We intend to continue these values and to deliver. As
we grow and increase market value, so do our earnings and cash
reserves symbiotically through our existing financial structuring.
We now have at our finger tips the opportunity to deliver all
aspects of our plans. With recent events, we now have the leverage,
when we decide, to use the corporate value given to us by
shareholders to enact the financial plans to build the stadiums,
the corporate head quarters, and to ensure our market position
without encumbrance, hindrance, or limitation. We are now at a
point through successful delivery of our plan where we have to
consider the now real consequences of becoming and attaining at the
highest level. That is a responsibility and one that all of the
8000inc team will relish".
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 "Risk Factors" in
the Company's Annual Report on Form 10-KSB and its other filings
with the Securities and Exchange Commission. 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
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