Buzz Records $300 Million in Assets
August 25 2008 - 1:35PM
Marketwired
Buzz Technologies, Inc. (PINKSHEETS: BZTG) today announced its
unaudited results for period ending August 22, 2008.
BUZZ TECHNOLOGIES, INC.
FINANCIAL STATEMENTS
BALANCE SHEET
AUGUST 22, 2008
ASSETS
Current Assets
$35,892.00
Cash
Shares in Buzz, Inc. (at a discount to valuation, see notes)
$300,471,362.00
Total Current Assets
$300,507,254.00
Shareholders Equity
$300,507,254.00
NOTE-1 Operations
Buzz Technologies, Inc. has established a blanket agreement
covering all cost and any required expenses with Buzz, Inc. Under
the agreement Buzz, Inc. will pay any all such amounts within the
prescribed period of the debt. Buzz Technologies, Inc. now holds a
significant investment in Buzz, Inc., and will distribute that
investment to holders after which it may seek to acquire other
investments or investment management services.
NOTE-2 Accounting Policies Use of Estimates
The valuation of the Equities is below that of estimates and
other valuations and has been for now placed at $1.00, this will be
reviewed again after Buzz, Inc. is a listed entity.
NOTE-3 Contingencies
As with expenses, contingencies, if any, are now the concern of
Buzz, Inc.
In other news, One-2Property (www.property.12buzz.com) has
entered in to a sales and marketing agreement with Sri Panwa
(www.sripanwa.com) of Thailand's most exclusive property
developments.
Buzz will be releasing 3 new search engines, 1. Wikipedia
Search, 2. RSS XML Search 3. Blog Search. The 3 offerings in their
beta format can be viewed and tested at
www.12buzz.com/buzzengine/index.php
Buzz Financial Services has added new features to the Gold and
Silver Trading Platform. Clients can now trade Gold and Silver with
as little as $100 (www.12buzz.com/fx)
About Buzz
Buzz Technologies, Inc. is a convergent media company with
operations ranging from infrastructure development to online
retail.
The foregoing press release contains forward-looking statements
based on the Company's beliefs as well as assumptions made by and
information currently available to the Company, including
statements regarding the timing of the introduction of certain
products. These forward-looking statements are based largely on the
Company's expectations and are subject to a number of risks and
uncertainties which are identified and described in the Company's
registration statements and periodic reports on file with the SEC,
some of which are beyond the Company's control. Actual results
could differ materially from these forward-looking statements as a
result of a variety of factors including, among others, issues
related to the travel and transportation industries, and prevailing
economic conditions in general. In light of these risks and
uncertainties, or should underlying assumptions prove incorrect,
there can be no assurance that the forward-looking statements
contained in this press release will in fact transpire or prove to
be accurate.
Contact: Beth Simpson Buzz Technologies, Inc. Tel: +66 87 272
1727 e-mail: beth@12buzz.com
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