LAS VEGAS, April 6, 2005 (PRIMEZONE) -- Strictly Business, Inc. (SBI) has asserted that during settlement negotiations relating to the past issuance of shares (without consideration) to insiders, additional shares are being issued by Tim Murray (BHWW CEO).
Ron Ray, President of SBI stated that, "In the middle of our settlement negotiations relating to the cancellation of shares (which we believe may have been issued improperly), Mr. Tim Murray, President of BHWW, has issued himself 500,000 shares for an employment contract only then to state that he was resigning."
"In our discussions," continued Mr. Ray, "Mr. Murray indicated that he was an interim CEO and that he had not been paid nor would he be paid for the services that he would render on behalf of BHWW."
Mr. Ray continued, "Further into our discussions, Mr. Murray indicated that he investigated the unlawful issuance of various blocks of stock to insiders and assured us that all the outstanding issues relating to those issuances would be resolved. I am shocked to find that in the middle of our negotiations, Mr. Murray continues to issue shares of BHWW to himself."
Mr. Ray stated that, "Once provided with the names of the seven (7) non-affiliates to whom shares (for questionable debt) were issued, Mr. Murray indicated that he had no knowledge of the issuance of said shares. However, the Edgar filings clearly show that as the President of BHWW (Mr. Murray) approved the issuance of such shares."
SBI specializes in the takeover and the restructuring of mismanaged companies and has committed to continue its takeover efforts of BHWW.