Bad Toys Holdings, Inc. Announces Spin-Off of the Southland Health Services Division via a Stock Dividend
KINGSPORT, TN, Nov 28, 2005 (MARKET WIRE via COMTEX) -- Bad Toys Holdings, Inc. (OTC BB: BTYH) announced today it will issue a Stock Dividend.
The Board of Directors has voted to distribute seventy-five percent (75%) of the Common Stock of Southland Health Services, Inc. to the shareholders of Bad Toys Holdings, Inc. The Southland Division will become a separately listed and traded public company. Southland Health Services, Inc. ("Southland"), a wholly owned subsidiary of Bad Toys Holdings, Inc. provides medical transportation services, including emergency and non-emergency ambulance services.
Bad Toys Holdings, Inc. will distribute the stock dividend, comprised of shares of common stock of Southland Health Services, Inc., to the shareholders of record at the close of business on January 12, 2006. Management will issue 1.31 shares of Southland Health Services, Inc. for every 1 share of common stock owned of Bad Toys Holdings, Inc. The shares of Southland Health Services, Inc. will be distributed after a registration statement to be filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933, as amended, becomes effective.
The Board of Directors of Southland Health Services, Inc. has authorized its officers to prepare and file a registration statement with the Securities and Exchange Commission. The Company is planning to file with the SEC on or about December 31, 2005. Contemporaneously with the filing of the Registration Statement with the SEC, Southland will seek to have its shares listed on NASDAQ SmallCap.
Mr. Larry N. Lunan, President and CEO, stated, "I was extremely pleased that Bad Toys Holdings, Inc., acquired the Southland Medical Transport Division and the potential that it offered to our shareholder base. Now I believe that this stock dividend and subsequent separate listing for Southland Health Services will yield an even larger value to our shareholder base. The Holding Company will continue to operate the motorcycle and car divisions while searching for other acquisition opportunities."
About Bad Toys Holdings, Inc.
Bad Toys Holdings, Inc., (BTYH), participates in two distinct business segments:
Southland Health Services, Inc.
This division provides medical transportation services, including emergency and non-emergency ambulance services. Our Southland Division operates in over 200 communities within the following seven states: Mississippi, Alabama, Florida, Louisiana, Kansas, Tennessee, and Virginia. We operate in excess of 207 ambulances and wheelchair vans and have over 940 full- and part-time employees. At our current run rate we will transport more than 130,000 patients in this calendar year. The changes planned for this division are discussed above.
Bad Toys, Inc.
This division, Bad Toys, Inc., American Eagle Manufacturing Company and Gambler Motorcycle Company, continues to design, manufacture, distribute, service and sell custom made, Harley-Davidson type, V-twin motorcycles from component parts. We also offer premium accessories, parts, customizing items and apparel related to Harley-Davidson motorcycles on-line and directly from our retail and factory outlets. This division also participates in Sprint Car Racing products and custom car construction & restoration.
For further information, contact Bad Toys Holdings, Inc., Larry N. Lunan, President and Chief Executive Officer, (423) 247-9560 or Al Kau, Investor Relations in California at (888) 795-3166. Further information about the Company may be obtained on its website at www.badtoys.net.
Contact:
Larry N. Lunan
President and Chief Executive Officer
Bad Toys, Inc.
(423) 247-9560
badtoys.net
Al Kau - Investor Relations in California
(888) 795-3166
SOURCE: Bad Toys Holdings, Inc.
CONTACT: badtoys.net
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