Apple Rush Announces Shareholder Structure
Last Update: 9:15 AM ET Nov 2, 2007
BLUE ISLAND, Ill., Nov 02, 2007 (BUSINESS WIRE) -- Apple Rush Company, Inc. (Pinksheets: APRU) the producer of Organic 100% Juice beverages, today is announcing their capital structure and corporate history.
Apple Rush existed as a brand for roughly 5 years in the mid-1970s with marginal success; a lack of sufficient sales caused the product line to eventually fall out of the market. In 1980 Robert Corr purchased the trademark of the then defunct company for eventual use by his privately-owned natural beverage company, Rush Beverage Company.
In 2006, the Apple Rush product line was revived as a joint venture between RushNet, Inc. (RSHN.PK) and Rush Beverage Company (of which Robert Corr is the majority shareholder), and a test run of two flavors was produced. Re-packaged and expanded to six flavors the Organic Apple Rush line had its first production run in the spring of 2007. The product has been well-received by the market due to its quality and attractive look, and as a result of RushNet's sales program. Additionally, with the strong sustained growth of the organic-food category, over 20% in each of the last 5 years, and increased consumer awareness and demand for these types of products, Apple Rush management is prepared to enter the capital markets from a position of strength with an aggressive business plan for a product line poised for potentially explosive growth.
Apple Rush Company, Inc. was founded in Nevada in 2006 as a privately-held corporation ("Apple Rush NV"), of which, RushNet held 51% of the total shares and Rush Beverage held 49%. In an effort to attract further funding and increase Apple Rush production to meet the growing demand, the owners of Apple Rush decided to bring Apple Rush NV public through a reverse merger with a Texas Corporation named D-Bar Manufacturing, Inc. ("D-Bar"). The result of the reverse merger was that RushNet received 45% of the total outstanding shares of D-Bar, Rush Beverage received 43% of the shares, and the remaining 12% of the shares stayed with the original D-Bar shareholders. D-Bar was a peculiar and attractive vehicle to the Apple Rush team because it was born out of the bankruptcy of another company, but had no significant operating history of its own, and thus is free of worries about past liabilities, which is a common problem with reverse mergers. D-Bar has never traded on public markets, but was endowed by the bankruptcy court with a shareholder base that left it in a position that it could be brought public. After the merger, D-Bar changed its name to Apple Rush Company, Inc., a Texas Corporation ("Apple Rush"). Apple Rush has filed the necessary paperwork with FINRA and has acquired a symbol under which it will soon trade on the Pink Sheets.
According to Robert Corr, CEO of Apple Rush, "We're excited about taking Apple Rush into the public capital markets in funding our growth. RushNet and Rush Beverage shareholders have a significant share of the company, which should greatly benefit them as Apple Rush continues to grow and strengthen with its great product line."
Further communications are forthcoming in the next few weeks, before public trading begins in Apple Rush stock. Management strongly encourages all interested parties to follow Apple Rush's growth over the next 12 months as our business plan bears fruit. |
