SACKETS HARBOR, N.Y., March 23, 2011 /PRNewswire/ -- Wisebuys, Inc. (PINKSHEETS: HCKI) confirmed that its majority common stock shareholder has re-sent to the transfer agent with instructions for cancellation approximately 1.81 billion shares of Wisebuys common stock and that the share cancellation took effect March 22nd.
Additionally, the company recently applied to FINRA for a name change to "Empire Pizza Holdings, Inc." and new ticker symbol. The company is waiting for FINRA's final review and ultimately confirmation of the effective date of the name change and new ticker symbol.
Additionally, the company has also applied to FINRA for approval of the previously-announced dividend of 1,000 common stock shares of Seaway Valley Capital Corporation and five common stock shares of Harbor Brewing Company, Inc. for each 250,000 shares held of Wisebuys, Inc. common stock. Unless instructed by FINRA otherwise, the intended record date of the dividend is the previously-announced date of March 18, 2011 with a proposed dividend date of April 15, 2011. Further details on the all items related to the FINRA application will be forthcoming once confirmed.
Additionally, the company is pleased to report that it has repaid approximately $125,000 of the $135,000 note owed to Seaway Valley Capital Corporation as part of the original purchase price for the company. Maury Peters, President and CEO of Wisebuys stated, "Although we suffered a certain amount of dilution with now 1.98 billion total shares outstanding as a result of this debt repayment, we thought it was important to get as much of Wisebuys paid for as quickly as possible, and this way we could focus on the future of this new company."
Mr. Peters continued, "Furthermore, at this point we do not see significant share issuances in the coming months, and there are no plans to reverse split this stock in 2011."
Safe Harbor Statement
Certain statements in this release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "project," "intend," "expect" "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (finance or operating) or achievements to differ from future results, performance (financing and operating) or achievements expressed or implied by such forward-looking statements.
SOURCE Wisebuys, Inc.