Beverly Hills Weight Loss Responds to Press Release Regarding Takeover and Unexpected Increase in Stock Volume
Posted on: Thursday, 31 March 2005, 12:00 CST
HEATHROW, Fla., March 31 /PRNewswire-FirstCall/ -- The Board of Directors of Beverly Hills Weight Loss & Wellness, Inc. (BULLETIN BOARD: BHWW) released a statement late today concerning the press release on Monday, March 28, 2005 and the recent unannounced and unexpected large volume of purchasing of the company's stock. Beginning on Wednesday, March 23, and continuing through yesterday, the common stock of Beverly Hills Weight Loss traded over 25 million shares, and the price increased by over 500%.
The prepared statement reads:
"We are aware of the press release on Monday, and several members of our Board and our legal counsel have made attempts to communicate with the parties, but our calls have not been returned. There have been no Form 13D filings to identify new material shareholders in our company. We are pleased that there has been an unexpected large increase in the purchase of shares in our company, but we have no information as to who is involved, what their intentions are, or whether they are indeed legitimate. We caution our shareholders to proceed cautiously as well. We will have our Annual Report on Form 10-KSB on file soon, and encourage all current and potential shareholders to read its contents, and the contents of all of our SEC filings, carefully for current information about the company.
We believe that the recent comments about Beverly Hills Weight Loss & Wellness, Inc. are not accurate and do not reflect a comprehensive understanding of the company, its financial posture, nor any of its business affiliations.
Our Board of Directors has made it clear that we will entertain written communications from any shareholder and will respond accordingly. We will continue to welcome and entertain all forthright offers made by qualified investors to participate in the success of the Beverly Hills organization."
DISCLAIMER:
This release may contain forward-looking statements that involve risks and uncertainties, including without limitation, acceptance of the company's products, increased levels of competition, product and technological changes, the company's dependence upon financing and third-party suppliers, and other risks detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus. Specifications are subject to change without notice.
CONTACT: Tim Murray of Beverly Hills Weight Loss & Wellness Inc., 1-800-316-9437, info@www.BeverlyHillsWeightLoss.com
Beverly Hills Weight Loss & Wellness, Inc.
CONTACT: Tim Murray of Beverly Hills Weight Loss & Wellness Inc.,+1-800-316-9437, or info@http://www.beverlyhillsweightloss.com/
Source: PRNewswire-FirstCall
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