ABCI Holdings/American Boardsports Signs Investment Banking Agreement with The Watley Group LLC.Business/Sports Editors SAN DIEGO--(BUSINESS WIRE)--May 20, 2002 ABCI ABCI Advanced Business Communications, Inc. ABCI Associate of the Business Continuity Institute ABCI Allocated Baseline Configuration Index (USCG) Holdings Inc./American Boardsports Co. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ABCI), innovative producer of snowboard, wakeboard and skateboard products, today retained The Watley Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a Los Angeles-based management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects firm, as its financial adviser and investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. . Watley will assist in positioning ABCI to explore growth strategies aimed at enhancing shareholder value. "While the action sports industry is currently experiencing substantial growth, it is nevertheless highly fragmented," said John Bryan, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of The Watley Group. "We believe this represents a significant opportunity for American Boardsports both from an organic growth perspective and through consolidation." "ABCI is in a transition phase as we ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale product development and expand distribution channels," said Thomas N. Carter, chairman of ABCI Holdings/American Boardsports. "The Watley Group will help strengthen corporate operations and reinforce our position as a trend-setting player in the action sports market." About The Watley Group LLC Founded in 1979, The Watley Group LLC is a Los Angeles-based management consulting firm that provides clients with corporate finance, M&A, operational and resource planning. The company has a deep background in assisting microcap to Fortune 500 companies in transitional growth periods. Watley's senior managing directors have board experience on a number of Fortune 50 companies including Chrysler and Federal Express. For more information about The Watley Group, visit http://www.watley.com. About ABCI Holdings Inc./American Boardsports Co. Founded in 1993, ABCI Holdings Inc./American Boardsports Co. (OTCBB:ABCI) is a vertically integrated sporting goods manufacturer that designs and produces branded consumer products for the rapidly growing action or extreme sports sector. American Boardsports pioneered the cross-market integration of snowboarding, skateboarding and wakeboarding Wakeboarding is a surface water sport which involves riding a wakeboard over the surface of a body of water behind a boat. It was developed from a combination of water skiing, snow boarding and surfing techniques. along with related accessories and apparel and continues to be viewed as a pacesetter in these adrenaline-driven markets. ABCI utilizes manufacturing facilities worldwide and is known for technology and innovation in action sports products. ABCI's brand names include "Thruster(TM)" wakeboards, "Human(TM)" skateboards, "Republic(TM)" skateboards, "Competition Brand(TM)," "Kampus" wakeskates and "Real F8th." The action sports lifestyle appeals to the generation "X", "Y" and "I" consumers, which are demographic groups between the ages of 8 to 35. More information is available at the company Web site www.americanboards.com. Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. due to shifts in market demand; and litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. involving product liabilities and consumer issues. ABCI Holdings Inc. cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. ABCI expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based. |
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