LAS VEGAS, July 12, 2004 (PRIMEZONE) -- Internet Business's International, Inc. (OTCBB:IBII) announced today that the establishment of its creditor trust was complete. IBII voluntarily set up the trust to enable it to continue its operations and pursue emerging WI-FI opportunities without being hindered by calls from creditors that pre-date the existing management team.
The trustee for the creditor trustee will evaluate creditor claims and is empowered to resolve and pay on such claims independent of the Company. Al Reda, President of IBII, stated that "the creation of the trust has freed up management and has allowed it to re-focus its attention on generating new business."
Separately, IBII has discovered that it has been listed on the Berlin-Bremen Stock Exchange without the knowledge and/or authorization. IBII's attorneys were instructed to contact the exchange authorities, market makers and whoever else was responsible for the unauthorized listing and take action to have the Company immediately de-listed from the Berlin-Bremen Stock Exchange.
IBII is among hundreds of other OTCBB companies were also listed without their authorization. The Company feels that the listing may have been part of a scheme to naked short the Company not because of its price per share but because of its normally high volume of daily trading.
Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as IBII or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this 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. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the operations of a company.
For additional information please contact the Company at 775-588-2387: Ask for Bob Howard or email info@skyyfi.com and or info@ibint.com