Caffe Diva Still Exploring Its Options.Business Editors LOS ALTOS Los Altos (lôs ăl`tōs, lŏs), residential city (1990 pop. 26,303), Santa Clara co., W Calif.; inc. 1952. There is diversified light manufacturing. , Calif.--(BUSINESS WIRE)--Nov. 21, 2000 Caffe Diva Group Ltd. (CFDA CFDA Catalog of Federal Domestic Assistance CFDA Council of Fashion Designers of America (New York, New York, USA) CFDA California Funeral Directors Association CFDA Community Futures Development Association ), a publicly held espresso coffee retailer announced today that the Board of Directors of Caffe Diva Group, Ltd. is still examining the current conditions of the Company in order to decide if the appropriate action includes filing a Plan of Reorganization. Tony Vaughn, Chairman of Caffe Diva said, "As announced previously, the negative cash flow and the foreclosure on the operating assets Operating Assets Another term for working capital. of the Company by the major secured creditor One who holds some special monetary assurance of payment of a debt owed to him or her, such as a mortgage, collateral, or lien. of Caffe Diva leaves no producing assets in the Company and numerous unsecured creditors." New developments will be posted on the Company web site at www.caffediva.com. Statements in this press release may contain forward-looking information within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the Exchange Act of 1934, and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those sections. All statements other than statements of historical fact, included within this release, including without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve unknown risk and uncertainties or other factors that could cause actual results to materially differ from the results, performance, or expectations implied by these forward-looking statements. There can be no assurance that any such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to update the information contained herein nor should it be assumed that the statements contained herein will be unchanged at any subsequent date. |
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