8000 Inc. (EIGH.pk) Changes Business Focus and Management
MANASSAS, VA, July 8, 2011 /PRNewswire/ - 8000 Inc. was once one of the rising stars on Pink Sheets with strong buys and a share price as high as $0.43 cents. It then tumbled, partly through careless press releases and, we believe, partly as a result of sabotage of our stock through inappropriate market manipulation.
New CEO, Jonathan Bryant, who was appointed this week, believes that although the business is at a current low because of its recent travails with the SEC and the perceived market manipulation, it is still viable. Moreover, by running a tight ship and stream-lining its business activities, the company can rise again. Bryant's plan to bring the company back includes installing a full and active multi-member Board, as well as recruiting experts from the markets to advise and shape the company's position and financial backing.
Bryant admitted the company had lost its way by trying to focus on too many potential profit centers at once and expanding too quickly, which weakened the solid Brand foundation that it was attempting to build. Bryant conceded, "We have disappointed our investors and have lost some of the credibility that is fundamental to 8000 Inc. - and we must earn it back."
To get the company back on track, 8000 Inc. will be focused on four core areas:
- Viability study and possible development of manufacturing facilities for cotton in Barbados;
- Re-launch of Brand8000 clothing;
- Development of the 8000Club (High profile events, comprising of themed evenings and Black Tie Balls and creating a private members club);
- Development of the online casino.
While these four core areas may still seem like a broad set of businesses, the development of the cotton manufacturing facility, Brand8000 and the 8000Club link together through the utilization of the cotton fabric for the Brand8000 clothing, promotion of the Brand8000 Clothing Collections through the 8000Club themed events and private members database and the utilization of the 8000Club to promote the onlline Casino by running Casino themed events.
Bryant said, "Our approach to leadership at the core during this transition has changed. This is a serious business with clear and serious goals and shareholder confidence will be restored."
Key statements:
- We will focus for what is right for the company and for shareholders. I believe the key is a real opportunity here to develop the cotton industry in Barbados by creating the facility to manufacture fabric from the crop produced. This will allow us to create the clothing collections for Brand8000 at a lower cost. We will then be able to create awareness and a client base through the 8000Club.
- Streamlining this business will make recovery quicker and restore shareholder confidence that will result in a better reflection of its value.
Bryant's final statements, "I want to leave with our loyal shareholders this question: What do you want 8000 Inc. to be? My own answer: I want 8000 Inc. to be a company that delivers on its promises, keeps shareholders aware of developments, and maintains a focus on its core businesses without raising any doubt by shareholders that 8000 Inc. will deliver now it is on its new path following the recent change of control and reinvigorated focus under new management.
"Thank you for being part of 8000 Inc. You have my commitment, my respect, and my appreciation. Let's define and deliver this transition together so that we are all owners of shares in a company we are proud of. This is our start."
If there are any questions, please direct them to the [email protected].
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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 published disclosure documents at www.OTCMarkets.com 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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