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| 14-Aug-2001 |
American Boardsports Common Stock Begins Trading on the OTC Bulletin Board Under the Symbol “ABCI”
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SAN DIEGO, CA, - August 14, 2001 - ABCI Holdings Inc. formerly American Boardsports Company Inc. (OTC BB: ABCI) the innovative producer of snowboard, wakeboard and skateboard products today announced that its common stock has begun trading on the OTC Bulletin Board effective August 13, 2001 under the new symbol “ABCI”.
"This is a significant step forward for the company,” said Thomas Carter, chairman of ABCI Holdings/American Boardsports. “The move to the OTC market positions the company to not only benefit from greater visibility and liquidity; it also opens the door to accelerated financial growth and investment capital. Our commitment to our shareholders and customers will be an important focus."
American Boardsports Company Inc. recently merged with OneClass Synergy Corporation, a public shell (OTC BB: ONCL) effective July 24, 2001. OneClass Synergy undertook a 50 to 1 reverse stock split of all issued and outstanding shares and changed its name to ABCI Holdings Inc., a Delaware corporation.
Current shareholders of ABCI stock will be contacted by U.S. Stock Transfer Corporation with information as to how to exchange their shares 1 for 1 for the new ABCI Holdings stock. The newly issued shares will be restricted from trading on the public market until they are registered with the SEC later this calendar year.
Also effective with the close of the merger the new management team assumed control of Company operations. The team is lead by Joseph La Torre. As CEO, La Torre will immediately deploy an enterprise software plan to optimize the manufacturing processes and internal communication as well as oversee financial growth and expansion. Floyd Ryan, founder of 4117 Investments – ABCI’s Canadian design and manufacturing facility, will run the day-to-day operations of the Company and manage the factory in Vancouver. Thomas N. Carter, one of the founders of ABCI, will continue on as Chairman to develop new business opportunities, strategic alliances, and implement mergers and acquisitions. Robert T. Kirk, an investment banker, will serve on the board of directors as corporate finance advisor.
About ABCI Holdings/ American Boardsports Company
Founded in 1993, American Boardsports Company, Inc. (OTC BB: ABCIE) designs and manufactures branded consumer products for the rapidly growing outdoor extreme sports sector. Products include snowboards, wakeboards, skateboards along with related accessories and apparel. ABCI has manufacturing facilities in Vancouver, B.C. and is known for innovation and technology in action sports products. ABCI’s brand names include “Thruster™” wakeboards, “Revelation™” snowboards, “Rev™” snowboards, “Human™” skateboards, “Republic™” skateboards, “Competition Brand™” and the “Freedom Grove™.”
Currently patented in Canada, the Company’s proprietary “Freedom Groove” technology is an innovative binding system that allows infinite positioning to achieve the desired stance for both snowboards and wakeboards. The company has marketed and developed its brands over eight years and now plans an aggressive sales and acquisition strategy to build market share. The action sports lifestyle appeals to the generation "X", "Y" and "I" consumers, which are demographic groups between the ages of 8 to 35. More information is available at the company Web site www.americanboards.com.
Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. ABCI Holdings Inc. cautions readers not to place undue reliance upon any such forward looking statements, which speak only as of the date made. ABCI expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.
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Contact:
American Boardsports Company, Inc.
San Diego
Thomas Carter
(760) 730-3828
www.americanboards.com
or
Investor Relations Services, Inc.
New Smyrna Beach, FL
Tony Dick
(386) 409-0200
info@invrel.net
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