SPQS .0003s very thin-NEWS-TOO Oct 08, 2012

SPQS .0003s very thin-NEWS-TOO

Oct 08, 2012
OTC Disclosure & News Service

Sanford, FL -

SPQS update on "chill" status with DTCC

Orlando, FL Oct. 5, 2012 (OTC MARKETS NEWSWIRE) -- SportsQuest, Inc. (SPQS), a publicly-traded holding company, is working with its legal counsel to remove the "chill" imposed by the DTCC.
The DTCC "chill" stems from transactions that took place between March 2011 and September 2011. The company's legal counsel is in communication with the DTCC and working with its Transfer Agent to provide all the documentation necessary to outline these transactions. The company sees this communication as a positive sign, and is working to provide all the documentation to resolve the issue and remove the "chill" as quickly as possible.
DTCC - The Depository Trust & Clearing Corporation. The DTCC's depository provides custody and asset servicing for more than 3.6 million securities issues from the United States and 121 other countries and territories, valued at US$36.5 trillion.
DTCC Chill - Is a special restriction that can be placed on a given security by the Depository Trust & Clearing Company (DTCC).
CEO of SPQS Jeffery Burns said: “In the last PR I stated I surrendered 1,800,000,000 shares but the correct terminology was returned. We understand the chill has hindered our shareholders and communication with the DTCC is a huge step in removing that obstacle.”
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology , industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company's filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company's objectives will be attained.

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