Heathrow Natural Food & Beverage, Inc. Board of Directors Approves Stock Re-Organization Plan For 2011
January 05 2011 - 8:46AM
Business Wire
Heathrow Natural Food & Beverage, Inc. (OTCPK: HRNF) is
pleased to announce that its board of directors has approved a
stock re-organization plan for 2011, which includes no plan for a
reverse split. Based on the stock re-purchase plan and projected
2011 revenues announced in last month’s press releases, it will not
be necessary to affect a reverse split for 2011 and beyond. The
board has approved the re-purchase of 90% of the company's float
over the first six months of 2011, which will be retired and placed
back in the company’s treasury pool. This will reduce the company's
float to approximately 5 Million shares. In addition, the board has
approved the reduction of the company’s authorized common shares
from 15 Billion to 500 Million. Upon the reduction of shares, rule
144 restricted shares will be issued to senior management and
certain insiders.
“We are very pleased to be in a position to execute the stock
re-organization and significantly increase the value of our PPS and
market cap moving forward into 2011,” said Michael Pagnano, CEO
Heathrow Natural Food & Beverage, Inc. “All financing going
forward, will be based on purchase orders and will have no impact
on the share value or require any further dilution.” We wish all of
our customers and shareholders a Happy & Healthy New Year.
About Heathrow Natural Food & Beverage, Inc.:
www.heathrownfb.com
Heathrow Natural Food & Beverage, Inc. (HNFB) is the
producer of the Heathrow Natural Super Food Brand of Functional
Chewing Gums which includes several Super Foods such as Acai &
Resveratrol. HNFB is part of the $100 Billion Wellness Industry,
which is growing at 10% per year.
Statements contained in this news release, other than those
identifying historical facts, constitute "forward-looking
statements" within the meaning of Section 21E of the Securities
Exchange Act of 1934 and the Safe Harbor provisions as contained in
the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements relating to the Company's future
expectations, including but not limited to revenues and earnings,
technology efficacy, strategies and plans, are subject to safe
harbors protection. Actual Company results and performance may be
materially different from any future results, performance,
strategies, plans, or achievements that may be expressed or implied
by any such forward-looking statements. The Company disclaims any
obligation to update or revise any forward-looking statements.