LAS VEGAS, Nov. 6, 2003 (PRIMEZONE) -- maxxZone.com, Inc. today announced the cancellation of 30,600,000 shares that were originally issued in connection with a proposed plan of expansion into China. "After much consideration, and in the best interest of the company and its investors, maxxZone has decided against this decision," stated Roland Becker, CEO of maxxZone.com, Inc.
"This is a great day for maxxZone investors," added Becker. This completed cancellation of 30,600,000 shares brings maxxZone's outstanding share balance down from 87,456,000 to 56,856,000. "This can be viewed as either a near 35% reduction in outstanding shares or as a near 35% gain in ownership for all maxxZone shareholders," noted Becker.
With the cancellation of 30,600,000 shares completed, MaxxZone finally returns to its core business of Sportoys(tm), namely active lifestyle products that offer the appeal and positive feedback of toys, and the skills of real sports equipment, as a natural bridge between FunPlayers(tm) and Real Sports. Some of the comprehensive range planned by maxxZone can be viewed by downloading specific sports eBooks using http://www.maxxzone.com/ebooks.html.
About MaxxZone
MaxxZone is a sports equipment company with 30 exclusive product ranges, many under patent rights protection. maxxZone(tm) products target 100 million US fun players, and aim to satisfy player needs "From First Try - To Real Play"(tm) with a design focus on in-built learning functionality, safety and 75% reduced space real game play. maxxZone's goal is to move the American family off their seats and into good health through fun sports play. maxxZone.com is a Las Vegas, Nevada based company and is publicly traded on the OTCBB under the symbol MAXZ. Details: www.maxxZone.com
NOTE: 'Get it on...maxxZone.com', 'Get into Life', 'Time for a Sports Play Revolution', 'From First Try - To Real Play', maxxZone, Sportoys, FunPlayers, maxxSlam, maxxStix, maxxTrax, maxxSwing and MaxxGear are the trademarks of maxxZone.com, Inc.
Safe Harbor Statement
Certain statements contained herein may be forward-looking in nature and are therefore subject to risks and uncertainties that could cause actual results to differ materially. The company's recent acquisition history, progress toward completing the integration of its acquisitions, history of operating losses, current expense levels compared with its sales, and the state of development of its product portfolio, coupled with the overall economic and competitive operating environments pose a number of risks investors should take into consideration in connection with assessing our financial and operating results. A more detailed discussion of these and other important risk factors can be found in our filings with the Securities and Exchange Commission on forms 10-K and 10-Q.