CHEYENNE, Wyo., Aug. 21, 2015 /PRNewswire/ -- FBEC Worldwide, Inc. (OTC-QB: FBEC), a beverage company with intellectual property formulas and marketing capability for the production and distribution of proprietary beverages, announced Thursday, August 20 via an 8k filing that FBEC Worldwide, Inc. will no longer be retaining the Services of Yorkshire Capital Advisors.
"As the company progresses toward its goals of penetrating the marketplace with its current and future beverage lines, it is our fiduciary responsibility to eliminate overlap with the current services & consulting arrangements we have in place and the ones we had prior to the launch of our flagship product, WolfShot. While we appreciate the effort made by Yorkshire Capital during the early stages, it is our responsibility to manage our working capital efficiently. As such, FBEC will save $30,000 per month with regard to this prior consulting arrangement with Yorkshire. All debt shares that were effectively part of this prior arrangement will be canceled and will be reflected in our next quarterly report via a 10Q.
"Shareholders that were on our conference call last week and shareholders that might have missed it will be happy to know that we are committed to our word of reducing the authorized shares from 5 billion to 1.5 billion. We have started the measures to complete this task and it will reflect via an 8k filing.
"As for our signature product WolfShot, we are currently wrapping up the beta version used for vendor sampling & retail awareness and will have a 100% completed product for wholesale & retail distribution shortly. We appreciate the patience of our consumers and are committed to releasing the absolute best product that will set a new precedent for the energy shot market."
FBEC Worldwide, Inc.
About FBEC Worldwide, Inc.
FBEC Worldwide is an innovative Beverage Company dedicated to offering proprietary products focused towards significant target markets both domestic and abroad. We are committed to increasing our market size and scope through the optics of creative marketing and most importantly customer satisfaction. Our growth strategies will focus on a number of major initiatives including, unique branding opportunities that will be targeted at key demographic groups, and to develop strong community and distributor relationships.
As we look ahead FBEC Worldwide will develop and build name brands focused on strong rates of growth within key fundamental consumer groups. Our company is dedicated to becoming a leading developer of name brand beverage alternatives geared specifically towards large, significantly important demographics within major markets.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
SOURCE FBEC Worldwide, Inc.