Message #18 From:
Stock News Bot Date: October 20, 2007 10:29:58 AM
Global Beverage Solutions Sells Investment for $700,000
Global Beverage Solutions, Inc. (OTCBB: GBVS) ("Global Beverage") today announced the sale to SOS Resource
Services, Inc. of a secured promissory note issued by Rudy Partners, Ltd.
for an aggregate purchase price of $700,000. In connection with such
sale, Global Beverage received $100,000 in cash and a non-interest
bearing note which requires the remaining amount of the purchase price to
be paid in eight equal payments of $75,000 on a weekly basis, beginning
on October 22, 2007.
Global Beverage had received the secured promissory note in connection
with the sale of its 80% equity interest in Rudy Beverage, Inc. earlier
this year. Global Beverage sold the secured promissory note to fund its
operations. Global Beverage continues to hold a $1.8 million note issued
by Rudy Beverage, Inc., which note may be converted under certain
circumstances into shares of common stock of Rudy Beverage, Inc.
"We are very pleased to have completed this transaction which should help
Global Beverage fund its operations through the remainder of 2007," said
Jerry Pearring, President and CEO of Global Beverage. "We are also
taking or seeking to take a number of additional steps which are intended
to improve our financial condition and ability to continue as a going
concern."
About Global Beverage Solutions, Inc.
Global Beverage Solutions, Inc. is focused on acquiring majority
ownership interests in beverage-related companies, with a particular
emphasis on companies operating in the imported bottled water and
alternative or "New Age" beverage industries. Global Beverage Solutions,
Inc. currently owns 100% of the outstanding equity interests in two
beverage-related companies:
-- Aqua Maestro, Inc. - an importer and seller of bottled water through company-owned distribution to retailers and consumers in South Florida, direct sales to retailers outside of South Florida, direct sales to consumers generated through its website at www.aquamaestro.com and sales to third party distributors.
-- Beverage Network of Maryland, Inc. - a New Age distributor based in Jessup, Maryland which distributes brands such as Welch's and Fiji water to retailers in Washington, D.C., Northern Virginia, and the entire state of Maryland.
Founded by Notre Dame Football legend Daniel "Rudy" Ruettiger, Rudy
Beverage, Inc. is focused on creating and distributing sports drinks that
offer great taste and healthy alternative choices for parents, kids,
athletes, and active people looking for something special. Rudy! Rudy!
Flying Colors(TM) and Rudy Revolution(TM) are the first in the new line
of low-sugar, high nutrition fortified beverages that also offer Rudy's
inspirational message of hope -- that "never give up" spirit immortalized
in the movie "RUDY" -- on every bottle. For additional information,
please visit: http://www.rudybeverageinc.com.
About Rudy Partners, Ltd.
Founded by Notre Dame Football legend Daniel "Rudy" Ruettiger, Rudy
Partners, Inc. is focused on creating, distributing and licensing "Rudy"
branded products that offer healthier alternative choices for parents,
kids, athletes, and active people looking for something special and
backed by Rudy's inspirational message of hope -- that "never give up"
spirit immortalized in the movie "RUDY" -- on every product.
Forward-Looking Statements
This press release may contain certain forward-looking statements,
including statements with regard to the future performance of Global
Beverage. Words such as "believes," "expects," "projects," "should," and
"future" or similar expressions are intended to identify forward-looking
statements. These forward-looking statements are subject to the inherent
uncertainties in predicting future results and conditions. Certain
factors could cause actual results to differ materially from those
projected in these forward-looking statements, and some of these factors
are enumerated in Global Beverage's Form 10-K for the year ended December
31, 2006, and other filings with the Securities and Exchange Commission.
Global Beverage undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information,
future events or otherwise.
