BUFFALO GROVE, Ill., May 11, 2005 (PRIMEZONE) -- GFY Foods, Inc. (OTCBB:GFYD) GFY Foods announces that it has finalized its agreement with Terry Moye and has acquired Terry Moye & Associates (TM&A), a CPA and consulting firm as a wholly owned subsidiary of the Company.
Mr. Moye's firm now provides Accounting, Business and Individual Tax Services as well as Business Computer Systems Services including software training. It is the plan that Terry Moye & Associates will become a fully capable Financial Services branch of GFY Foods, Inc. Mr. Moye, a licensed CPA, is taking steps to renew his license to provide insurance and mutual fund brokerage services. At that time, TM&A hopes to be able to provide Mutual Fund investments, retirement planning, business and individual tax services, and Business Continuity Planning. It was also discussed that Mr. Moye will attempt to bring in associates to broker medical and life insurance policy accounts as well as attempting to acquire a new base of private clientele that should provide a revenue source for GFY Foods. Terry Moye has also signed a Consulting Agreement with the Company to provide some Business Accounting work as well as due-diligence work prior to any acquisition.
For a planned future development, Ed Schwalb, president of GFY Foods, Inc., and Terry Moye, have consulted and believe that there is a specialized niche that TM&A may be able to fulfill as Small Business Start-Up Consultants. If all goes as planned, it is hoped that TM&A could be a one-stop-shop for an entrepreneur to put together and help execute a Business Plan Outline including becoming incorporated, financing, budgeting, payroll, taxes and even a marketing budget. This is a concept developed by Mr. Schwalb and Mr. Moye that could help a start-up get past a lot of confusion and guess work that may be associated with starting a business.
About GFY Foods, Inc.
Founded in the spring of 2003 by Ed Schwalb, GFY Foods is currently operating a franchised cafe, but is focusing on non-employee driven assets such as the life settlement policies and the purchase, rehabbing and flipping of commercial and residential properties, as well as other revenue sources.
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.