ORLANDO, Fla., Oct. 14, 2010 (GLOBE NEWSWIRE) -- EyeCity.com Inc. (Pink Sheets:ICTY) would like to update the shareholders on the status of the Pink Sheets attorney letter and its business acquisitions.
The attorney letter is expected to be completed within this month. As previously stated within the last news update, corporate counsel has been preparing us to go to the next stage of reporting. After this letter is filed, EyeCity will be retaining new SEC-qualified auditors for its next stage. This will be a benefit to the investment community as far as transparency is concerned, and also be of benefit to the existing companies we have targeted to acquire, or with which to do joint ventures.
The next issue is the business at hand. EyeCity is working on the final details in one of its major acquisitions. We are trying to achieve this by the second week of November. EyeCity's objective is to purchase this acquisition and others in a manner not to create dilution in the common stock.
The funding for these acquisitions is being worked out by private investment money. To reiterate, the objective is not to dilute the common stock of this company.
The primary objective is to use the funding raised to execute the business plan. The funding is not for the purpose of acquiring the targeted assets.
Safe Harbor Statement:
This news release includes forward-looking statements pertaining to future anticipated projected plans, performance and developments, intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Any statements on this news release that are not statements of historical fact should be considered forward-looking statements. These forward-looking statements generally can be identified by phrases such as "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "intends," or other words or phrases of similar import. Similarly, statements in this news release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.