....and then the flip side:
Marx Toys And Entertainment Corp. To File An Injunction Against UIT For Breach Of Contract
SEBRING, Ohio--(BUSINESS WIRE)--Aug. 18, 2003--Today, Marx Toys And Entertainment Corp. (OTCBB: MRXT) will indeed file an injunction against UIT, a division of United Leisure Corporation (Pinksheets: UTDL), for breach of contract.
Based upon information and belief, it has come to our attention that UIT has attempted to enter into negotiations with a company other than MARX Toys. In the event that this negotiation is carried forward, it will infringe upon the rights of Marx.
Marx has filed an injunction to prevent UIT from entering into said negotiations which clearly violates the existing contract. Marx Toys will vigorously defend its rights to the fullest extent of the law and go after the company's rights to their patented technology, and any additional assets for potential damages to both the company and its shareholders.
Steve Wise, CEO of Marx Toys stated, "The product is real, the technology is real and the contract is real and it is a binding agreement. We hope that Marx and UIT can resolve this issue quickly so that both parties can move forward."
About Marx Toys And Entertainment Corp.
Marx Toys And Entertainment Corp. manufactures and markets interactive toys and reissued collectible toys, along with classic games, playsets and ride along toys. Marx's vintage originals are highly collectible amongst hobby enthusiasts. Marx branded toys are sold at more than 400 toy and hobby retailers across the U. S. and has a rich history dating back to 1928. To read more on this history, visit marxtoys.com. In late July, Marx acquired a software company, AZtor Corporation. More info is at aztor.com
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Marx Toys And Entertainment Corp. takes no obligation to update or correct forward-looking statements.
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