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Follow on Google News |  8000 Inc. (EIGH.pk) Newsletter December 2010Shareholder and investor update on latest developments and progression of 8000inc
By: 8000 Inc The past few weeks have been challenging for the Company and shareholders alike. However, it is important to note that the Company has been conducting business and progressing its interests on all fronts to deliver success ultimately for the Company and shareholders alike in line with its published plans as they may change over time. The Company will inform its shareholders of any and all substantive developments periodically but minimally monthly through its investor newsletter. SEC Investigation The Company and all subpoenaed individuals have and are complying fully with the requests by the SEC regarding the investigation, “in the matter of Monks Den”. Some 5Gb of data has been collated on behalf of the Company and provided to the SEC investigation team to answer all questions. Mr. Kelly has testified, Mr. Bryant is scheduled to testify near term and the individuals subpoenaed are finalizing their responses to the extent not already including in the Company response. The Company will update its shareholders on this SEC matter in its monthly reports. The Company, although it accepts that it was clumsy in some of its actions and that there may be a consent order in line with publicly issued documentation, rectified through correcting statements voluntarily or as directed by the SEC, firmly believes that the investigation will show no illegal or manipulative activities or wrong doing by its officer or associates. Company Progress Directly associated with the SEC investigation and consistent with the Company’s beliefs, the Company has initiated discussions to recruit experienced special counsel to review recent trading in the Company’s common stock. This contemplated action was addressed with the SEC naming the expected counsel, specializing in matters of this nature. Counsel will review, use its own offices and compile a report on all trading activity and prepare a report with its conclusion for submission to the SEC. Such special counsel is expected to be engaged in the next few weeks. Notwithstanding the suspension of trading (since lifted) and the Subpoena, the Company is in discussion with a well-known, reputable market maker to file the Company’s Form 211 under SEC Rule 15c2-11. The Company seeks to get the Company’s admitted for trading to the OTC Markets’ QX as soon as possible and concurrently moving towards fully reporting as a priority. Subject to the findings and response from the SEC, the Company has also indentified and agreed to have seasoned individuals become its new management team. As reported earlier, it is expected that members of the new management team will be experienced merchant and/or investment bankers as members of the Board of Directors and/or officers shaping the operational activities of the Company. In view of the recent developments and the need to install a new management team, the Company has decided that it needs to focus on the core businesses. The Company will refocus and concentrate solely on what it believes are its more promising business interests, moving away from the longer term investment strategy of acquisitions. In light of the advances it believes it has made in Barbados, and the Company’s acknowledged position, the operations in Barbados and Brand8000 will become, for the foreseeable future, the focus moving forward. Limegrove The Company’s flagship store at the Limegrove Lifestyle Center is days away from completion. The store’s opening is part of the Limegrove Center’s “global” launch. All that is outstanding for the store is the internal fittings and the installation of the stock inventory system. The formal hand over to the Company is December 15, 2010, the scheduled opening date for the Center with the formal opening of the flagship store by 8000 Inc being the third week of January to coincide with the completion of the building work in the surrounding stores. The company felt that it was not appropriate to have clients negotiating construction activity and noise which may detract from the customer experience. As indicated previously, this is the first in what the Company believes to be a series of such facilities, each carrying a range of Brand8000 lines of clothing. The marketing and advertising of the store is now in full swing with TV, radio and full media coverage daily organized and coordinated by the Center itself complementing the Company’s own staged events throughout the holiday season. This is an exciting time for the Company and its shareholders alike. The company raised capital and committed investment for the flagship store in excess of $200,000 BDS ($100,000 USD). We are pleased to report that the store itself looks exactly like the architect’s plans and we extend our appreciation to the developers contracted. The Company will be issuing photographs and provide feedback to the shareholders regarding the launch. During the Center’s “global” launch, the Company expects to organize (through December and January) a series of events which will include signings by sporting celebrities and catwalk shows with fashion model. Latest Developments During November, the Company has been in negotiation with a blue chip luxury goods and services company operating globally. An agreement in principle has been reached whereby the Company’s flagship store would become the site used as this luxury goods company’s single sales location in Barbados. It is planned that the contemplated agreement will be announced in conjunction with the 8000inc flagship store opening January 2011. The Company has made, in its opinion, a unique marketing niche, building a reputation through its associations and support of national and leading sports associations and official bodies. Following that strategy, the Company has agreed to “exclusively partner” for 2011 with Proshottas and the Milan Junior Camp ( http://www.milanjuniorcamp.com/ 8000 Inc. Newsletter team For more information please visit: www.brand8000.com www.8000incgroup.com www.8000inc.net Or contact: investors@8000inc.net -ENDS- This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" # # # 8000 inc is the culmination of 15 years of networking experience and success in the corporate world, stock markets and the technology and financial arenas. End
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