Company to Use Proceeds to Forward Proof of Concept Testing for its Authentication and Chain of Custody Solution
BOCA RATON, FL / ACCESSWIRE / November 20, 2014 / True2Beauty, Inc. (the "Company") (OTC Pink: TRTB) (PINKSHEETS: TRTB), a company that operates an online retailing platform through its subsidiary, True2Bid, Inc., is pleased to announce the closing of a $400,000 financing from a group of accredited investors through the issuance of 3 year 10% convertible promissory notes that are convertible into TRTB common stock (or into the common stock of its subsidiary True2Bid under certain circumstances) at $0.02 per share.
The Company intends to use the proceeds to further the development of its proof of concept testing for a unique DNA-based authentication and chain of custody solution and to complete its financial audits for its fiscal 2013 and 2014 years.
"This is an exciting time for True2Beauty as we move forward with our recently announced authentication proof of concept testing, our auction website, and our long-standing plans to bring the company to an SEC fully reporting status through the completion of financial audits for the Company's previous two fiscal years", states Bill Bollander, the Company's Chief Executive Officer. CEO Bollander commented further, "We are happy to have found financial backing from investors who believe in our innovative business plan and we intend to work diligently on all facets of our operations to unlock the tremendous growth potential of the platform we are building for 2015 and beyond."
About True2Beauty, Inc.
True2Beauty is the parent company of BetUGetIt(TM), an online retail platform. The BetUGetIt(TM) site is focused on delivering users a wide array of products that can either be won in an action packed environment of a live auction or purchased outright at considerable discounts to MSRP. With a guarantee that "The Only Risk Is Having Fun," participants can now experience a new and exciting way to shop for the products they want, at great discounts. The Company plans to expand its business plan through a unique DNA-based authentication and chain of custody solution.
This press release contains forward-looking statements. 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. Conversion of the convertible promissory notes into common stock shares will be dilutive to the Company's shareholders. No information in this press release should be construed as an indication of the Company's future revenues, results of operations or its future stock price. The Company assumes no obligation and does not intend to update any forward-looking statements, except as required by law.
CONTACT:
Investor Relations:
True2Beauty Inc.
1-800-630-4190|
http://www.true2beauty.com/
http://www.betugetit.com/
SOURCE: True2Beauty Inc.