posted
KNOXVILLE, Tenn., Sept. 15 /PRNewswire-FirstCall/ -- Celerity Systems, Inc. (OTC Bulletin Board: CESY), a business development company focused on providing capital formation, management advice and investments in developing companies, announced today that the Company has signed a business development agreement with privately-held Getting Ready Corporation. Celerity will receive an equity take in Getting Ready under the business development agreement. Getting Ready is a start up that plans to focus on providing comprehensive educational resources, shopping services and wellness programs for American women who are planning to start a family, are pregnant or have recently given birth. Celerity will supply Getting Ready with managerial and financial advice. Getting Ready plans to operate its services under a single umbrella branded as "Mother Supercare Centers" to be located in highly populated and targeted areas across the United States. After the development and implementation of two model centers and a pilot program, Getting Ready anticipates franchising the "Mother Supercare Center" concept. Sheldon R. Rose, CEO and founder of Getting Ready, stated, "We believe there is a strong need for a new and innovative approach to providing education, health and fitness training, and women's and infants' product merchandising targeted to the universal experience of pregnancy, childbirth and early child care. Our agreement with Celerity should help us accelerate the execution of our business plan. Celerity brings significant experience in managing a public company and should open up additional financial opportunities for us to achieve a national market presence." Celerity intends to distribute 5% of Getting Ready's outstanding Common Stock, or 3,910,500 shares, to its shareholders as a stock property dividend. Celerity set the record date for the property dividend for October 20, 2004. All shareholders of record as of October 20, 2004 will be eligible to receive the stock property dividend. Celerity shareholders are expected to receive one share of registered (i.e. "free-trading") Getting Ready stock for approximately every 1,191.779 shares of Celerity stock that they own, based on the existing shares outstanding. The payment date will be as soon as practical after the United States Securities and Exchange Commission declares Getting Ready's SB-2 Registration Statement effective. Celerity President and CEO Robert Legnosky stated, "We are excited to mark our first business development agreement with Getting Ready. We believe we can assist Getting Ready in developing and implementing Mother Superstores across the United States."
About Getting Ready Corporation Based in Naples, Florida, Getting Ready Corporation is a start up that plans to focus on providing women who are planning to start a family, are pregnant or have recently had a baby, with a one-stop destination offering pregnancy, childbirth and paternity education classes, nutritional counseling, health and fitness classes and training and spa services. Getting Ready also expects to offer retail catalog and Internet shopping for women's and infants' products related to pregnancy, from birth through the infant's first year of life. Emphasis will be placed on educating women about pregnancy, childbirth and parenting, nutrition and overall health, fitness and the emotional well being of mothers and their families. Getting Ready plans to open "Mother Supercare Centers" and offer franchises across the United States. After the development and implementation of two model centers, Getting Ready's intention is to franchise the "Mother Supercare Center" concept.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission.
Company Contact: Investor Relations Contact: Robert Legnosky, President & CEO Gary Geraci Celerity Systems, Inc. OTC Financial Network 865-539-5300 781-444-6100 ext. 629 garyg@otcfn.com
SOURCE Celerity Systems, Inc. -0- 09/15/2004 /CONTACT: Robert Legnosky, President & CEO of Celerity Systems, Inc., +1-865-539-5300; or Gary Geraci of OTC Financial Network, +1-781-444-6100 ext. 629, garyg@otcfn.com/ /Web site: http://www.celerity.com/ (CESY)
CO: Celerity Systems, Inc.; Getting Ready Corporation ST: Tennessee IN: FIN HEA SU: CON DIV
quote:Originally posted by Sigma_1966: Why something not good in there ?
From the 10Q
We have no existing bank lines of credit.
There can be no assurances that we will be successful in our attempts to raise sufficient capital essential to our survival. To the extent that we are unable to raise the necessary operating capital it will become necessary to further curtail operations. Additionally, even if we raise operating capital, there can be no assurances that the net proceeds will be sufficient enough to enable us to develop our business to a level where we will generate profits and positive cash flows. These matters raise substantial doubt about our ability to continue as a going concern.
posted
I am upbeat on this share, but I have been wrong too may times.
Posts: 120 | From: Woodland Hills CA USA | Registered: Jun 2004
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Clyde Crashcup
unregistered
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quote:Originally posted by keithsan: clyde, almost all pennies 10q's have that in them. it sound scary but its really a legal out to cover their butts in case they do tank.
That way you dont have a law suit. If these companies had billions of cash in the bank, they wouldnt be trading at these prices....
similar to the asprin may give you a stroke warning, you still take the asprin.......
Thanks- scared me. I dumped and ran which means it will probably do great for you guys. I'm better at pickin' my nose than picking stocks. I'm learning.
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