FBC Holdings Announces agreement with new CEO Frank Russo, turned around Puma
NEW YORK, Nov. 8, 2012 /PRNewswire/ -- (OTC Markets: FBCD) FBC Holding, Inc. announced today that Frank Russo, one of the Company's directors has agreed to assume the role of Chief Executive Officer. Russo is the former Vice President of Development for RYCA and is an expert in implementing sales distribution and product strategy, sales team leadership, marketing, market analysis and business development. Prior to joining RYCA and FBC Mr. Russo was the President of Gladiator Sales, Inc., which was the exclusive sales agency for Puma North America. He led Gladiator to reestablish the Puma brand to prominence and increased sales revenue to over $75 million with 13 sales associates. Under his leadership Gladiator was named Brand Agency of the Year – 2000 and 2002.
Russo stated, "After working with the company for several months now I am excited about the prospects. I see FBC Holding as a company that has been jumping from business to business without ever accomplishing anything. It is a fading brand just like Puma was, and like Puma, it has a unique and high-quality product. We have done most of our housecleaning and are now focusing on selling Flowboards and other extreme sports products"
The company also announced that it still intends to issue a comprehensive shareholder update along with the filing of the annual report. We have received a filing extension as our CEO and our professional service providers have been and continue to be affected by Hurricane Sandy.
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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 our 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 1 9 9 3 and Section 21 E of the Securities Exchange Act of 1 9 3 4 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.
Further specific financial information, filings and disclosures as well as general investor information about the Company, advice to investors and other investor resources are available at the Securities and Exchange Commission ("SEC") website www.sec.gov and the Financial Industry Regulatory Authority ("FINRA") website at www.finra.org. Any investment should be made only after consulting with a qualified investment advisor and reviewing the publicly available financial statement and other information about the company profiled and verifying that the investment is appropriate and suitable
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