The Fight Zone Inc. Signs Letter of Intent With Gold Recycle Corp
2009-03-12 09:30 ET - News Release
ADDISON, TX -- (MARKET WIRE) -- 03/12/09
The Fight Zone Inc. (PINKSHEETS: TFZI) today announced that it has signed a Letter Of Intent for a stock exchange with Gold Recycle Corporation "GRC."
GRC's President Jim Epstein said, "With gold currently at an all time high, we are very excited about taking GRC to the public through the share exchange agreement with TFZI."
Epstein added, "Coming right out of the box in this 20 million dollar a year market, we are positioned as Avis vs. Hertz. 'We Buy Harder' than our competitor! What I mean by that is we have a quicker, safer way for customers to send us jewelry, gold, silver, platinum, diamonds, etc. And have 3 to 5 times higher payouts than any pawnshops, jewelry stores or other 'as seen on TV' vendors. In some instances our customers are paid the same day using Federal Express."
The metals recycling business is the second biggest source of gold, silver and platinum. An estimated $9 billion is spent on jewelry every year in the U.S. alone. Worldwide, between 23% and 25% of the gold supply comes from recycling. That translates into 30 million ounces of gold into the global market from recycling which equals $20 billion annually.
GRC Management is forecasting gross revenues of $2 to 4 million in the first 12 months of operation.
The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 ("the Securities Act"), as amended and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, our statements regarding the anticipated growth of the company from our subsidiary divisions, the anticipated longer-term growth of our business, and the timing of the projects and trends in future operating performance are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of revenues due to the uncertainty of market acceptance and other factors, including general economic conditions, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this filing and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Contact: Buckeye Epstein 972-248-2244 Ext 103
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