Energy Edge Merges with The Dry Fried Wing Company; Moves Headquarters to Ft. Lauderdale
FORT LAUDERDALE, Fla., Nov. 21, 2012 /PRNewswire/ -- Energy Edge Technologies Corporation (OTC: "EEDG") has announced the completion of a merger with The Dry Fried Wing Company, the licensor and franchisor of "Original Dry Fried Wings...The San Francisco Sensation", which is poised to become one of the fastest growing brands in the fast food arena. The merger furthers the emergence of EEDG as a diversified holding company.
Under the terms of the merger, The Dry Fried Wing Company is now a 65% owned subsidiary of EEDG and has been given the authority to name a new Board of Directors and new Officers for EEDG. Energy Edge has applied for a name change to "EEDG Holdings, Inc." and has moved its Corporate Headquarters to 2810 E. Oakland Park Blvd, Ft. Lauderdale, FL. John Walker, CPA, and President of The Dry Fried Wing Company, has been named EEDG's new Chief Financial Officer and has responsibility for overseeing all financial matters relating to EEDG and its subsidiaries.
Robert Holdsworth and Joseph Regosta, former President and CEO of EEDG respectively, have agreed to return 29 million shares of EEDG common stock that they own personally to the Company treasury in exchange for a 49% stake in the Energy Edge Solutions subsidiary of EEDG, which will continue to provide energy and resource conservation services and which they will continue to manage. Mr. Holdsworth and Mr. Regosta will maintain a combined ownership of 4 million shares of EEDG common stock. Upon return of their 29 million shares to treasury, EEDG will have approximately 67 million shares outstanding.
The Dry Fried Wing Company has begun the process of bringing "The San Francisco Sensation" to the rest of the world. The Company is utilizing its co-branding expertise and top level foodservice connections to gain immediate access into the world's busiest and highest profile locations including major airports, travel plazas, college campuses, malls, arenas and stadiums. The Company will also be opening co-branded units in three premier Bravo Pizza locations in Manhattan as well as Da Vinci's Pizzeria of Ft Lauderdale in the coming weeks.
"We believe we have the perfect product and business model to have an immediate and sustainable impact on this truly explosive sector," said Dr. Benjamin Chavis, EEDG Spokesperson and Co-Founder of The Dry Fried Wing Company. "Chicken wings are currently at their peak popularity and continue to grow rapidly as a fast food item worldwide. Our highly successful co-branding experience gives us the ability to gain significant market share right out of the gate, and achieve the fastest, most profitable growth in the industry. Dry Fried Wings have achieved legendary status in one of the world's most competitive foodservice markets, but have yet to be discovered outside of San Francisco. Our mission is to change that in a hurry."
For more information regarding The Dry Fried Wing Company's products and plans, along with the latest Company news and developments, please visit dryfriedwings.com.
Media contact: Glen Calder 561-750-9800 x216 or firstname.lastname@example.org.
This release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. Important factors known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, ability to compete successfully, and ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events, or changes to future operating results.
SOURCE Energy Edge Technologies Corporation