Holdings Corp begins Reorganization and issues shareholder update
(Accesswire) October 24, 2013 - Team Nations Holding Corp, (a Nevada
Corporation) (OTCBB: TEMN), today announced that it has begun the
reorganization process for the corporation which will include the appointment
of new directors within the next 30 days.
The process started with the update to current share
structure on OTC markets and the company has hired a new attorney to assist in
bringing itself current in its corporate filings in the State of Nevada. The company is also in process of
retaining a securities attorney to address the DTCC chill placed on the
company’s common shares that occurred with past management and to bring it’s
SEC filings current.
The company has begun the process of updating its financial
statements with the intent of becoming a fully reporting company again in the
future. The financial updates will
show no debt on the books of TEMN.
The Company is currently in negotiations with a privately
held Texas based liquor company for the purpose of completing a share exchange
between the company and TEMN. Once
consummated, the Company will begin operating in Texas as an importer and
distributor of distilled alcoholic beverages.
Additionally, there is no plan for a reverse split as the
issued and outstanding shares only represent about half of the authorized
shares of the company.
The Company will not respond to emails or phone calls with
regard to this update or other information in order to comply with SEC Rules
but will make readily available information pertaining to it’s progress. CEO
Alonzo Pierce commented, "I am truly grateful for the opportunities that have
presented themselves within TEMN.
I feel that the new structure of the company is very solid and will
serve as an excellent platform for the proposed acquisition which will allow us
to be a viable spirits company and
provide increased shareholder value."
release contains "forward-looking statements" within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995. When used in this
release, words such as "estimate," "expect,"
"anticipate," "projected," "planned,"
"forecasted" and similar expressions are intended to identify forward-looking
statements, which are, by their very nature, no guarantees of Team Nations
Holdings Corporation, Inc.’s future operational or financial performance, and
are subject to risks and uncertainties. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date of this release. Due to the risks and uncertainties, actual events may
differ materially from current expectations. The Company disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Source: Team Nations Holding Corp.
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