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Great White Marine and Recreation, Inc. Announces Suspension of Business Efforts
WACO, Texas, Dec 20, 1999 (BUSINESS WIRE) -- William Harvey, Chairman of the Board of Great White Marine & Recreation (OTC BB:JAWS), announces the suspension of the company's ongoing business efforts.
Harvey stated, "Our focus has become mostly one of asset recovery. The assets we have recovered to date will be used as funding for partial relief of the outstanding debt, and to fund the company's continuing litigation efforts necessary to recover the significant remaining assets. We do not intend to take on any new business until we recover sufficient funds to pay current debt, publish a financial statement, and determine an accurate stock count. Also, due to the termination of our business relationship with Polaris, we will be closing our Pompano office. We intend to keep our major creditors updated on a routine basis, and will notify the shareholders of significant events via press releases."
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