NEW YORK, Feb. 27, 2013 /PRNewswire/ -- (OTCQB: FBCDD) FBC Holding, Inc. would like to update its shareholders on recent events.
FBC Holding recently took shipment of a supply of Flowboards and Snow Skates. This represents our first shipment of active and extreme sports products and we have already begun the marketing and sales of these products
Over the last two quarters FBC Holding has undergone a number of significant changes. We have replaced our previous management and brought in a new slate of officers and directors. We have spent most of our time resolving several issues and problems that we have inherited and we are pleased to say that these issues are now behind us and we are ready to proceed with our new business plans and to begin generating revenues.
We will begin this process with two initial products. The Flowboard about which we have previously spoken and for which we will begin taking orders for the upcoming spring season. In addition, a new product the Railz® Snow Skate is now in inventory and available for sale.
Previous management had announced that the Company had entered into licensing agreements with Sports Technology for the exclusive worldwide marketing and distribution of all of Sports Technology's existing intellectual property ("IP"). Sports Technology represented that among this IP was an agreement with the owners of the Flowboard design and distribution rights which granted Sports Technology assignable and exclusive rights to marketing and distribution of the Flowboard and other products and other ancillary rights of usage. Notwithstanding the Company's previous announcements, and Sports Technology's representations, current management has found no evidence of an existing agreement between the Company and Sports Technology assigning such rights, nor has Sports Technology been able to provide the Company with any documentation that it actually possesses any rights to the IP that it sought to convey to the Company. FBC Holding has thus terminated all agreements and relationships with Sport Technology and advises its shareholders that Management's position is that the company holds no exclusive marketing agreements for the Flowboard. Notwithstanding that, we have taken possession of certain inventory including Flowboards, Snow Skates and skateboards and will continue to market and sell these products on a non-exclusive basis.
Also, Management is currently in discussions with several companies in the technology space that are being considered for incorporation into FBC Holding which will diversify the company's revenues and mitigate the seasonality associated with its current lines of business. We expect to announce one or more of these additional within the next several weeks.
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The Company is advising readers that non-affiliate shareholders of the company, and the Company may, from time to time, engage the services of unaffiliated firms to provide investor relations and advertising services. These third party shareholders may own the Company's shares and plan to liquidate, which may negatively affect the stock price. All content in our releases is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. The Company does not purport to provide an analysis of any company's financial position, operations or prospects and this is not to be construed as a recommendation by the Company or an offer or solicitation to buy or sell any security. Neither the Company nor any of its members, officers, directors, debt-holders, contractors or employees are licensed broker-dealers, account representatives, market makers, investment bankers, registered investment advisors, analyst or underwriters. Readers should always consult with a licensed securities professional before purchasing or selling any securities of any company including out own. It is possible that a reader's entire investment may be lost or impaired due to the speculative nature of the investment.
Some of the content in this release may contain forward - looking information within the meaning of Section 27 A of the Securities Act of 1993 and Section 21 E of the Securities Exchange Act of 1934 including statements regarding expected continual growth of the Company and the value of its securities. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 it is hereby noted that statements contained herein that look forward in time which include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward - looking statements or announcements mentioned in this release. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the company's filings with the Securities and Exchange Commission. However, a company's past performance does not guarantee future results.
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