Anything Brands Online Announces Update for Spin-Off of Its Online Commercial Business Unit Date : 02/18/2010 @ 9:15AM Source : MarketWire Stock : Anything Brands Online, Inc. (ANYT) Quote : 0.072 0.002 (2.86%) @ 4:00PM Anything Brands Online Announces Update for Spin-Off of Its Online Commercial Business Unit
TUCSON, AZ -- (Marketwire) 02/18/10 Anything Brands Online, Inc. (PINKSHEETS: ANYT) announced previously that the company would spin-out its Online commercial and retail business into another Pink Sheet Company to be managed by Timothy Norton an executive of that division.
According to Norton, "The spin-out process involves the merger of the company's Online Division into ABOL, Inc., a newly established Nevada Corporation, which will be merged into an existing public company, and is expected to be completed within the next 60 days." The Spin-off into ABOL (private) is effective immediately, with a share distribution effective as of April 15, 2010. ANYT shareholders will be granted shares in the new ABOL, Inc. based upon a 1:1 basis. Earlier a distribution of shares for ANYT shareholders was announced offering them an opportunity to become shareholders in Anything Green Online (AGO). AGO is currently in the process of completing its S-1, a process that will lead to their becoming a reporting company on the OTCBB.
Tim Norton further stated; "Anything Brands Online, Inc. has developed three independent public companies with a common ancestry from the original ANYT. We are convinced that splitting the company into 3 separate operations is an effective way to manage each business to meet both the challenges and opportunities of this post-recession economy."
Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Anything Brands Online, Inc. and its business. Forward-looking statements speak only as of the date on which they are made and Anything Brands Online, Inc. undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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Be ready for renewed interest Thursday. Gap closed today, chart looks good for pennyland. RUMOR ON TWO GROUPS BUYING. Do your own DD! GLTA!
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