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Had to get out on the open..off to the mountains. Have a great holiday all. Stock you still in CLBE? great call..should have joined you there!
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GRWW - Greens Worldwide Terminates Definitive Asset Purchase Agreement to Acquire American Indoor Football League Jul 5, 2006 7:06:00 PM
HERTFORD, N.C., July 5 /PRNewswire-FirstCall/ -- Greens Worldwide Incorporated (OTC Bulletin Board: GRWW) announced today that it has terminated a Definitive Agreement to acquire the assets of the American Indoor Football League. (AIFL) (www.aiflonline.com). The closing of the transaction was subject to completion of customary final due diligence, and delivery of documentation to effect the closing, which was scheduled for or before June 30, 2006. Upon conducting due diligence, a judgment in favor of a former team owner was uncovered that was not disclosed to Greens Worldwide, and despite repeated requests for additional due diligence items, AIFL was not forthcoming with the documents requested and required by Greens Worldwide management.
About Greens Worldwide Incorporated
Greens Worldwide Incorporated is a vertically integrated sports marketing and management company, engaged in owning and operating sports entities and their support companies and is publicly traded under the stock symbol GRWW. Our current operating subsidiaries are the US Pro Golf Tour, Inc. www.usprogolftour.com , Breakthru Media, Inc. www.breakthrumedia.com , Crowley and Company Advertising, Inc. www.crowleyadvertising.com, New England Pro Tour, Inc. www.neprogolftour.com, Still Moving, Inc. www.still-moving.com , and Las Vegas Golf Schools, Inc. www.gotogolfschool.com. In our continuing effort to develop a more cohesive and synergistic organization, we are structured in a way that allows all of our wholly owned subsidiaries to utilize each other's resources to the greatest extent possible. In addition, the Company's strategic plan is to be able to deliver substantial value by providing multiple sports platforms and media to leverage our partners advertising and promotional dollars, while delivering the finest entertainment opportunities to retain and build customers. For our non-sports businesses, we will utilize the media and promotional benefits of our media platforms in Television, Radio, and Print, together with Internet Television and other like strategic relationships, to grow our consolidated revenues. The Company intends to continue its strategy of acquiring profitable sports organizations and sports related firms, together with other businesses that would benefit from the synergy the Company provides. www.grwwsports.com
Important Information About Forward-Looking Statements
The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbors created thereby. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.
Contact Tom Kidd Chief Executive Officer 252.264.2064
SOURCE Greens Worldwide Incorporated
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Tom Kidd Chief Executive Officer of Greens Worldwide Incorporated +1-252-264-2064
-------------------- The difference between genius and stupidity is that genius has its limits
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