World Wide Cannery Sells Its Ownership of the Seafood Factory, Eliminates Debt Tuesday June 13, 9:20 am ET
NEW YORK, NY--(MARKET WIRE)--Jun 13, 2006 -- World Wide Cannery and Distribution Inc. (Other OTC:WWCD.PK - News) announces its decision to sell off its ownership stake in the Seafood Factory. Amphon Limited has purchased the Prague-based Factory for 1.1 million Pounds Sterling. The contract was signed on May 5th, 2006 and closing on the property has already occurred. This sale eliminates any further dealings with creditors and any legal proceedings that have taken place in the Czech Republic regarding the Factory and World Wide Cannery Inc. Besides moving away from the legal complications and erasing company debt, another reason for the sale of the Factory is that World Wide Cannery and Distribution has decided to concentrate its efforts on the lucrative container shipping business, where it derived 80% of its revenue in 2005. Furthermore, with the assets gained from the sale, World Wide will continue to evaluate offers and pursue other viable commodities.
About World Wide Cannery and Distribution:
World Wide Cannery and Distribution Inc., (www.worldwidecannery.com), is a food manufacturing and distribution company. Looking to expand production, World Wide Cannery recently acquired the Prague-based Seafood Factory -- a food manufacturing and distribution center.
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.
Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "may," "should" and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.
Contact: Contact: Alex Livak 347-813-4664 Email: alivak*fortuneir.com
Posts: 328 | From: nj | Registered: Jan 2006
| IP: Logged |
posted
This company is into shipping containers which I think is a Money house
World Wide Issues Clarification Regarding Sales Figures From First Quarter NEW YORK, NY -- (MARKET WIRE) -- May 02, 2006 -- World Wide Cannery and Distribution Inc., (OTC: WWCD) mistakenly announced two weeks ago that it had 3.5 million Euros (US$4,200,000) in sales for the first three months of 2006. Those revenue figures, which are correct, came from shipments of seafood containers from South Korea and St. Petersburg, Russia, not from the Seafood Factory in the Czech Republic, which has yet to start processing this season.
Furthermore, the majority of the 14.5 million Euros in revenue that the Seafood Factory produced last year also came from the container shipping sales. World Wide Cannery, which owns 100% of the stock and assets in the Seafood Factory, is currently negotiating with creditors, executors, and banks for settlements on the Factory's debt. Worldwide purchased the assets without the debt in a bulk sale along with the stock. Plans to start processing are predicated on finalization of the debt structure.
About World Wide Cannery and Distribution:
Posts: 328 | From: nj | Registered: Jan 2006
| IP: Logged |
posted
Thats Ok I consider ignorance a gift because so many wonderful ideas could evolve from such the opaque..
Posts: 328 | From: nj | Registered: Jan 2006
| IP: Logged |
posted
Settle down yaho. I wasn't try to belittle WWCD. Sometimes people need a break from seriousness.
Posts: 1504 | Registered: Sep 2004
| IP: Logged |
posted
adx not so good but heading in the right direction.With increasing volume and buying pressure wecould see 0.018 by thursday
Posts: 328 | From: nj | Registered: Jan 2006
| IP: Logged |
posted
this is the next big giant in the shipping logistics idustry..Keep it close to your heart
Posts: 328 | From: nj | Registered: Jan 2006
| IP: Logged |
posted
I am going to make some phone calls today regarding /OS/COMPANY'S PROJECTION AND DIRECTION THROUGH 2006 AND FUTURE
Posts: 328 | From: nj | Registered: Jan 2006
| IP: Logged |
posted
INVESTORS LOADING UP FOR POSSIBLE PR NEXT WEEK..thats what I think..[ONLY MY OPINION]
Posts: 328 | From: nj | Registered: Jan 2006
| IP: Logged |
posted
Funny, this one's getting a ton of attention on i hub, but it looks like a one man show here. It's one of the better looking stocks as of late, GO WWCD!
Posts: 192 | Registered: May 2006
| IP: Logged |
posted
Wow this thing really does have low float. up 40% on 71k shares? Can't wait for news. Rumor is early next week per IHDR on the hub
Posts: 908 | Registered: Dec 2004
| IP: Logged |
posted
Pop goes wwcd...You guys could have made good on this ..if you were following the posts
Posts: 328 | From: nj | Registered: Jan 2006
| IP: Logged |
posted
yahosef- Did you see the name change in the Nevada filings. New name "Global Diamond Exchange". New officers too! Waiting for the PR then this flies imo.
Posts: 908 | Registered: Dec 2004
| IP: Logged |
Click on the box below and it appears to show Previous filings for both companies, which looks like Merger, not just name change. We are going to fly today.
Waiting on PR...
Posts: 908 | Registered: Dec 2004
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
