XELR8 Holdings Announces Plan to Appeal Notice of Proposed Delisting From NYSE Alternext
15 1월 2009 - 11:10PM
PR Newswire (US)
DENVER, Jan. 15 /PRNewswire-FirstCall/ -- XELR8 Holdings, Inc.
(AMEX: BZI), a provider of functional foods, beverages and
nutritional supplements, announced it has received notification
from NYSE Alternext (formerly known as the American Stock Exchange)
that its shares and warrants will be delisted from the NYSE
Alternext effective January 15, 2009, unless reversed on appeal,
because the Company's stockholders' equity was less than $2,000,000
and it had losses from continuing operations and net losses in two
of the last three most recent fiscal years. The Company plans to
appeal this decision and the shares will continue to trade on the
Exchange until the date of the hearing. Mr. John Pougnet, Chief
Executive Officer of XELR8 stated, "It is our strong belief that
based on reasonable expectations as to the continued growth in our
business and continued success of Bazi(TM), XELR8 Holdings could
satisfy the NYSE Alternext continued listing requirements.
Consequently, we will appeal the NYSE Alternext staff's decision
and present to them the actions that we intend to implement to
attain full listing compliance. The proposed delisting is premature
and we are very hopeful that after presenting our plan of action we
will prevail." Mr. Pougnet concluded, "The NYSE Alternext's
decision is unfortunate and certainly a disappointment. However,
the decision is not a reflection on XELR8's fundamentals, which
continue to be strong. We believe that the prospect of continued
growth in 2009 and beyond is clearly attainable. Should the Company
be unsuccessful with the appeal the Company's stock may continue to
be listed on the OTC Bulletin Board." About XELR8 Holdings, Inc.
XELR8 Holdings, Inc. is a provider of nutritional foods and
beverages designed to help enhance physical health and overall
performance. XELR8 has developed a comprehensive line of
nutritional supplements and functional foods designed in systems
that are easy to take, simple to understand, and conveniently fit
within a lifestyle. These include the Company's Eat/Drink/Snack
System; Peak Performance System; and its newest market entry,
Bazi(TM), a powerful, concentrated, antioxidant (Vitamins A, C
& E) nutritional drink packed with eight different super fruits
and berries, including the Chinese jujube plus 12 vitamins and 68
minerals, providing all the daily vitamins and minerals you need in
a single, convenient, one-ounce shot. XELR8's commitment to
quality, science and research has earned the Company a loyal
following of over 350 world-class athletes and an elite list of
endorsers, such as 3-time World Series Champion Curt Schilling,
five-time Cy Young Award Winner Randy Johnson; Super Bowl Champions
Mike Alstott, Lawyer Milloy and former Head Coach Mike Shanahan;
professional football superstar Cadillac Williams; Olympians Briana
Scurry and Caroline Lalive; Stanley Cup Winner Blake Sloan; and PGA
Tour Professional Tom Pernice, Jr. XELR8 products are only
available through independent distributors located throughout the
nation. For more information about XELR8, please visit
http://www.xelr8.com/ or http://www.drinkbazi.com/ .
Forward-looking Statements This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including prospects for
XELR8's distribution network. Actual results may differ from those
discussed in such forward-looking statements. These forward-looking
statements include risks and uncertainties that include the
Company's ability to attract and retain distributors; changes in
demand for the Company's products; changes in the level of
operating expenses; changes in general economic conditions that
impact consumer behavior and spending; product supply; the
availability, amount, and cost of capital for the Company; and the
Company's use of such capital. More information about factors that
potentially could affect the Company's financial results is
included in the Company's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-KSB for the year
ended December 31, 2007 and all subsequent filings. Certain
statements in this release regarding the Company's agreements are
in accordance with the guidelines established by the Federal Trade
Commission for endorsements in advertising. Contacts: John Pougnet,
CEO Stephen D. Axelrod, CFA XELR8 Holdings, Inc. Wolfe Axelrod
Weinberger Assoc. LLC (303) 316-8577 (212) 370-4500 DATASOURCE:
XELR8 Holdings, Inc. CONTACT: John Pougnet, CEO of XELR8 Holdings,
Inc., +1-303-316-8577, ; or Stephen D. Axelrod, CFA, of Wolfe
Axelrod Weinberger Assoc. LLC, +1-212-370-4500, Web site:
http://www.xelr8.com/ http://www.drinkbazi.com/
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