Good morning all.
GNII finally gives us a date for the share spin-off.
NUOA - still long.
FGRX (now NBMX) coming around.
EYLT waiting on the news.
Joe PTG&LI !!! here is the GNII article note the bold for the spin-off date.
Tuesday October 27, 4:40 pm Eastern Time
Company Press Release
GlobeNet Sales Increase 137% With
Record Earnings
DALLAS--(BUSINESS WIRE)--Oct. 27. 1998--GlobeNet International (OTC BB:GNII - news) reported a 137% increase in sales to $7,770,000 in the third quarter ended September 30, 1998 compared to sales of $3,279,000 in the same quarter last year, and earnings from continuing operations of $245,000, or $.02 per share, in the third quarter this year, compared to a loss from continuing operations of $226,000, or $.02 per share, for the same period last year.
Clinton Howard, CEO, attributed the earnings gain to rising sales in the Company's Royal BodyCare U.S., Canadian and International divisions of 1) Microhydrin(TM), a potent antioxidant, 2) Eye-Q(TM), a vegetarian DHA, which is essential to brain and eye development, but low in the American diet, and 3) FirstFood(TM), the exclusive microclustered form of Colostrum, a dietary supplement which supports the immune system.
GlobeNet, and its U.S. Royal BodyCare, U.S. division have leased a 119,000 sq. ft. building in Las Colinas, Irving, Texas, where its home office and warehouse will relocate on November 16, 1998.
The Company also reported that its attorneys are preparing a registration statement to be filed with the SEC to spin off its subsidiary, Great Xpectations (GX) with the issuance of one
registered share of GX for each two shares of GlobeNet to shareholders of record on June 5, 1998. For accounting purposes, this spin off was effective at the close of business on June 30, 1998. The Company has classified the operations of GX as discontinued operations in its
financial statements.
Royal BodyCare (RBC) sells technically advanced nutritional supplements, and Royal Botanica skin care products, for health and longevity, into 27 countries through 89,000 international distributors, shipped from Dallas and from branch RBC offices in Canada, Japan, Indonesia, Sweden and Switzerland.
Company products are also marketed worldwide over the Internet by those distributors who maintain their own web pages linked to the Company Web site, rbcglobenet.com.
Contact:
GlobeNet
Steve Brown, 972/401-0052
rbcglobenet.com
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