LAS VEGAS, July 6, 2010 (GLOBE NEWSWIRE) -- EQ Labs, Inc. (Pink Sheets:EQLB) announced today that it has begun the process of ultimately becoming a SEC fully reporting company. Based on recent requests from high net worth individuals who have collaborated with the company to help fuel the company's growth, EQ Labs has uploaded the most recent financials to Pink Sheets. This has allowed the company to improve its status by one complete disclosure level on Pink Sheets.
On Friday, June 25th, the company conducted a phone conference with Pink Sheets expressing its desire to rapidly move up the OTC Market Tier. The next tier and a near term target for EQ Labs is to become a Current Information filer with Pink Sheets.
Maurice Owens, Chairman and Chief Executive Officer of EQ Labs, stated, "We have received requests from certain individuals to improve our status on the OTC Market Tier. As many officers of public companies know, maintaining a status as an SEC fully reporting company is an arduous and expensive task. Simply being a Pink Sheets current information company is an expensive task and time-consuming task but it is something that we must now do."
Owens continued, "As our sales accelerate and as we collaborate with some of the world's most well known celebrities to help build our brand, reporting our sales and progress to our partners and investors is an important step. We are committed to this disclosure process and intend to improve our status even further in the near future."
About EQ Labs, Inc. EQ Labs is engaged in the development, marketing and sale of EQ ("The Smart Energy Drink"). EQ is an effervescent tablet that can be dissolved in any beverage to provide instant energy, consisting of a blend of essential vitamins, Gingko Biloba, and less caffeine than a cup of coffee. EQ is currently sold at Best Buy, 7-Eleven, Walgreens and other leading retailers. For more information about EQ, visit: www.drinkeq.com/" target="_top" rel="nofollow">http://www.drinkeq.com/.
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Forward-Looking Statements: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by EQ Labs, Inc. are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance, or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.