SARASOTA, Fla., Feb. 10, 2009 (GLOBE NEWSWIRE) -- As reported in the Associated Press and other news agencies, Mr. Gary L. Brown was arrested Feb. 2, 2009 and charged with conspiracy to commit securities fraud. It was also reported that a criminal complaint has been filed against Mr. Brown in New Jersey. Mr. Brown is the former President of SkyLynx Communications, Inc., having left the Company in October 2006. SkyLynx Communications, Inc. (SKYC) acquired VETCO Hospitals, Inc. in June of 2006. At that time, Kenneth Bryan Shobe was named CEO of the Parent company, SkyLynx Communications, Inc. The Company then re-positioned its focus to the Animal Health field to reflect the new identity resulting from the acquisition of VETCO Hospitals. SkyLynx Communications, Inc. changed its name to PawsPlus, Inc. (Pink Sheets:PPLS) in December 2008.
As previously disclosed by the Company on October 10, 2007, the Company first learned in September 2007 that Mr. Brown, then President, had been served with a subpoena on February 8, 2006 from the U.S. Attorney's office in Camden, New Jersey seeking information concerning Mr. Brown and his wife and others previously associated with the Company. Since learning of the subpoena, the Company and its current management have cooperated fully with the office of the United States Attorney, Camden, New Jersey and will continue to do so in the future. The information sought predated the merger of VETCO Hospitals, Inc. into a wholly-owned subsidiary of the Company in May of 2006. Mr. Brown had neglected to inform the officers of VETCO Hospitals, Inc. of the existing Federal Subpoena prior to the merger, or at any time prior to his departure.
None of the persons named in the recent news reports have any involvement with the current Company. The restructured management has taken great strides to refocus the Company as a leading pet health services provider. These efforts are ongoing.
About PawsPlus, Inc.
VETCO Hospitals, Inc., a subsidiary of PawsPlus, Inc., was launched in the Southern California market in April, 1996 with five full service animal hospitals. In addition, it now operates over 350 temporary vaccination clinics in over 175 retail locations per month in 5 western states providing in-and-out shot services, flea control products and other preventative care products to the consumer. This service brings clients back into the retailer on a regular basis, and provides the pet owner with both convenience and affordable preventative health care for the pets.
From time to time, the Company may issue forward-looking statements, which involve risks and uncertainties. This statement may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as actual results could differ and any forward-looking statements should be considered accordingly.