XELR8 Holdings Announces Plan to Appeal Notice of Proposed Delisting From NYSE Alternext US
15 1월 2009 - 11:56PM
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 US (formerly known as the American Stock
Exchange) that its shares and warrants will be delisted from the
NYSE Alternext US 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 US continued listing
requirements. Consequently, we will appeal the NYSE Alternext US
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 US'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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