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8000 INC New CEO Said To Consider Cotton Mill & Production facility in Barbados
- By S Coward
- Published 06-Jul-11
- Economy, Trade & Investment
- Unrated
MANASSAS, VA, July 6, 2011 - 8000 Inc. (EIGH.pk) today announced the replacement of Thomas Kelly (currently President, Chief Executive Officer, Secretary and Treasurer) with immediate effect via a majority (52%+ certified) shareholder vote.
8000 Inc. also announced the concurrent appointment of Jonathan Bryant as Chief Executive Officer, President, Secretary and Treasurer to replace Mr. Kelly in his multiple roles. Mr. Bryant has served as the consultant for the Company post the temporary trading suspension on November 4, 2010 and undertaken the Company's assessment of the SEC Inquiry regarding adequate disclosures and, more recently the Company belief that its stock (EIGH.pk) is being manipulated by others in the market, including broker-dealers.
Given this change of control as well as the abandonment of prior contemplated operating subsidiaries, Mr. Bryant expects to undertake a go forward review, including the appointment of further members to the board and realign the Company's business focus. The Company, for example, intends to concentrate on Brand8000 and the viability of a cotton mill and production facility in Barbados to service the fabric needs of Brand8000 clothes production. Additionally, Mr. Bryant believes it will be possible to attract (i) an established Consultant to assist with the Company's market strategy and (ii) cash investment into the Company to facilitate its new plans and focus.
Mr. Bryant's first act will be to immediately pursue, hopefully with SEC and/or FINRA assistance, the shareholder approved cancellation of Shareholder stock held in E*Trade accounts.
If the foregoing efforts can be properly put in place, the Company believes it will allow for the delivery of a clear route forward for the Company and allows Thomas to concentrate further on his own growing business.
The Company thanks Tom for his service over the last 2 years and wishes him every success in the future.