Nutek Inc. Provides Update to Shareholders
HUNTINGTON BEACH, Calif.--(BUSINESS WIRE)--March 16, 2001--Nutek Inc. (OTCBB:NUTK) announces receipt and acceptance of a written statement of apology from Stephen S. Helvenston relating to postings on the Internet.
Murray Conradie, Nutek CEO, stated, "Nutek has received a written apology from Mr. Helvenston in reference to postings made by him on the Raging Bull message boards."
Helvenston wrote: "I am writing this letter to apologize for certain statements and postings on message boards relating to Nutek and Mr. Conradie. The statements are result of my temper and my misunderstanding of facts related to Nutek. I ask that you disregard any of my postings of late and accept my apology and assurance that I will not make any postings relating to Nutek and Mr. Conradie again."
"Several shareholders were concerned about the content in these postings and Mr. Helvenston's apology should now clear this up. Additionally, Mr. Helvenston will be paying Nutek and Mr. Conradie an undisclosed amount in damages for the improper postings and will be enjoined from future postings on the Internet referencing Nutek or myself," stated Conradie.
About Nutek:
Nutek is a fully reporting public holding company involved in oil and natural gas operations; the production and assembly of plastic wall clocks; the design, manufacture and distribution of women's resort wear clothing and the manufacture and distribution of unique patented products.
Commenting on the apology, Conradie stated: "We have accepted Mr. Helvenston's apology and wish him all the best for the future. Nutek has additionally initiated a formal complaint with the SEC to determine if postings on the Silicon Investor message boards were related to the postings that were made on the Raging Bull."
Safe Harbor for Forward-Looking Statements
Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings, the company's failure to implement its business strategies and other risks.
CONTACT:
Nutek Inc.
Donald Hejmanowski, 702/914-7584
Fax: 714/799-5466
E-mail: investors@nutk.com
Web site: www.nutk.com
KEYWORD: CALIFORNIA |
