Apple Rush Co., Inc. Granted Motion to Vacate Judgment in Ashman Law Offices Matter
April 21 2011 - 9:22AM
Marketwired
Apple Rush Co., Inc. (PINKSHEETS: APRU) is pleased to announce that
the Company has reached a settlement and granted a motion to vacate
a judgment in favor of Ashman Law Offices, LLC (ALO) against Apple
Rush. As part of the settlement agreement, approved by the Circuit
Court of Cook County Illinois, the ALO judgment debt of $23,634 has
been assigned to third parties and all judgments held by ALO
against Apple Rush have been satisfied.
In further news, the Company reported the results as filed in
the Company's 2010 year-end financials. The net loss for the fiscal
year decreased by $320,586, in which a net loss of $179,549 was
reported for the twelve months ended December 31, 2010, as compared
to the fiscal year ended December 31, 2009, in which Apple Rush
reported a net loss of $500,135. Revenues for the three months
ended December 31, 2010 increased to $47,686 versus $33,652 for the
three months ended December 31, 2009, a gain of $14,034. Gross
profit increased by $10,161 for the last quarter of 2010 versus
2009 primarily due to the decision to eliminate the 4-pack
offering, thus reducing a significant amount of raw material and
printing expenses.
"We are working real hard to clean up the Company's overall
financial outlook," stated Robert Corr, President.
Apple Rush Company, Inc. produces Organic 100% Juice Sparkling
Beverages.
Safe Harbor: The Company relies upon the Safe Harbor Laws of
1933, 1934 and 1995 for public news releases. Statements, which are
not historical facts, are forward-looking statements. The Company,
through its management, makes forward-looking public statements
concerning its expected future operations, performance and other
developments. Such forward-looking statements are necessarily
estimates reflecting the Company's best judgment based upon current
information and involve risks and uncertainties, and there can be
no assurance that other factors will not affect the accuracy of
such forward-looking statements. It is impossible to identify such
factors. Factors which could cause actual results to differ
materially from those estimated by the Company include, but are not
limited to, government regulation; managing and maintaining growth;
the effect of adverse publicity; litigation; competition; and other
factors which may be identified from time to time in the Company's
public announcements.
Source: Apple Rush Co., Inc.
Contact: Boost Marketing 407-389-5900
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