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Could someone help me with something? I bought shares of SFAD a few years back and it reached about .70 cents for a high back then. I didn't sell. Today it is way down. It had a PR on June 6th, but unfortunately I am not all that smart when it comes to management and what it means for share holders. Could someone help me understand? Also, I realize I have lost when it comes to the shares I purchased years back, but they are still sitting there. Just curious if the PR and the website mean anything positive???? Any help would be greatly appreciated.
PALM BEACH, Fla., June 8 /PRNewswire-FirstCall/ -- Safe Technologies International, Inc. (OTC Bulletin Board: SFAD - News) issued a statement today.
Michael J. Posner, President, said, "Pursuant to a Stock Purchase Agreement entered into between the two largest shareholders in Safe Technologies International, Inc., there will be a change of control of the Company. Zabas Investments, Inc., the principal of which is currently a significant beneficial shareholder in the Company, or its assigns, will purchase 225,000,000 shares from The Lang Family Trust. Closing is scheduled to take place on or before July 15, 2004.
Once the stock purchase is closed, Zabas' management will oversee day to day operations. It is expected that various Directors and Officers of the Company will be replaced, on a scheduled basis, as a result of the transaction. Further details, such as the new ownership's business plan for the Company, will be disclosed to the Shareholders when available."
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