True 2 Beauty, Inc. Announces a Change in Directors
LOS ANGELES, Jan. 26, 2012 /PRNewswire/ -- True 2 Beauty, Inc., (Pinksheets: TRTB) (the "Company") (www.true2beautyinc.com), a leading distributor of male and female lifestyle ingestible products and health and beauty accessories in the United States, announced a change in the Board of Directors. Mr. Alex Hbaiu and Ms. Alzahara Hbaiu have resigned from the Board, as well as officers of the Company. Mr. Bill Bollander, current interim CEO, and Mr. Christopher Jarvis have become new members of the Board.
Since December of 2011, Mr. Bollander has acted as the interim CEO and consultant for the Company. Mr. Bollander is paid $100K in his capacity as the interim CEO. Mr. Bollander will serve as Chairman, and the Company is currently pursuing others to join the Board. Prior thereto, from 2008 through 2011, Mr. Bollander was a consultant with a broker-dealer. From 2006 through 2008, Mr. Bollander acted as an independent management consultant.
Mr. Jarvis has been the President and CEO of Caprock Risk Management since 2007, where he has built a nationally recognized boutique commodities firm specializing in the energy markets. Mr. Jarvis is a regular contributor to CNBC, CNN, Fox Business, Reuters, Bloomberg, The Street.com, and Dow Jones, among others. He holds a BA from University of Massachusetts and a MBA from University of Connecticut. Christopher has earned the right to use the Chartered Financial Analyst (CFA) and the Chartered Market Technician (CMT) designations. In connection with Mr. Jarvis' employment as a director the Company has agreed to compensate him as follows:
- an initial payment of $1,500 and quarterly payments of $1,500 during the term which he serves as a director of the Company; and
- a non-qualified stock option to purchase 50,000 shares of Common Stock of the Company at $0.001 per share (the "Options") under the Company's 2011 Employee Stock Incentive Plan (the "2011 Plan"). The Options are exercisable for a period of five (5) years and shall vest as follows: (a) 10,000 shares of Common Stock upon the execution of his employment offer letter; and (b) 10,000 shares of Common Stock per quarter during the term Mr. Jarvis serves on the Board of Directors on the last day of each such quarter.
The change in the Board reflects the need for Mr. Hbaiu to spend more time on matters unrelated to the Company. Ms. Hbaiu has decided to step down from the Board due to personal reasons as well.
The Company is planning, in January, to provide an update via conference call to all interested parties in January. It had been planned for December, but an increase in business and the holidays made it difficult to prepare for the call on such short notice.
About True 2 Beauty, Inc.
True 2 Beauty, Inc. is a leading distributor of male & female lifestyle ingestible products and health & beauty accessories including pills, liquid products, and semi-durable goods in the United States. The True 2 Beauty line of current products includes Libigrow, Libigirl, Blue Diamond, Pink Diamond, Energy Shots, Relaxation Drinks, EZ Curler Curling Roller, and Naked Vapor Electronic Cigarettes.
More information on the Company and its line of products can be found at:
www.nakedvapor.com
www.ezcurler.com
www.libigirl.com
www.lovepack.com
www.libigrow.com
www.mojonights.com
www.true2beautyinc.com
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, among others, all assumptions, expectations, predictions, intentions or beliefs about future events. You are cautioned that any such forward- looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to new and existing products, product defects and any related product recall; any projections of sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements .The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
For further information, please contact:
Investor Relations:
Undiscovered Equities
K. McKnight
1-800-404-8982
www.undiscoveredequities.com
Links:
www.true2beautyinc.com
www.mojonights.com
www.nakedvapor.com
www.ezcurler.com
www.libigrow.com
www.libigirl.com
www.lovepack.com
www.bluediamondpill.com
www.pinkdiamondpill.com
www.mancodebook.com
SOURCE True 2 Beauty, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article