$TEMN begin Reorganization and issues Shareholder Update
Oct 25, 2013 (ACCESSWIRE via COMTEX) -- Team Nations Holdings Corp begins Reorganization and issues shareholder update .
Houston, Texas (Accesswire) October 24, 2013 - Team Nations Holding Corp, (a Nevada Corporation) TEMN +12.50% , today announced that it has begun the reorganization process for the corporation which will include the appointment of new directors within the next 30 days.
The process started with the update to current share structure on OTC markets and the company has hired a new attorney to assist in bringing itself current in its corporate filings in the State of Nevada. The company is also in process of retaining a securities attorney to address the DTCC chill placed on the company's common shares that occurred with past management and to bring it's SEC filings current .
The company has begun the process of updating its financial statements with the intent of becoming a fully reporting company again in the future. The financial updates will show no debt on the books of TEMN.
The Company is currently in negotiations with a privately held Texas based liquor company for the purpose of completing a share exchange between the company and TEMN . Once consummated, the Company will begin operating in Texas as an importer and distributor of distilled alcoholic beverages.
Additionally, there is no plan for a reverse split as the issued and outstanding shares only represent about half of the authorized shares of the company.
The Company will not respond to emails or phone calls with regard to this update or other information in order to comply with SEC Rules but will make readily available information pertaining to it's progress. CEO Alonzo Pierce commented, "I am truly grateful for the opportunities that have presented themselves within TEMN. I feel that the new structure of the company is very solid and will serve as an excellent platform for the proposed acquisition which will allow us to be a viable spirits company and provide increased shareholder value."
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," "forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, no guarantees of Team Nations Holdings Corporation, Inc.'s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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