Celebrity Network Closes Acquisition and Plan of Reorganization of Monster Motorsports Inc.; Company Changes Name to Laforza Automobiles Inc.SAN DIEGO--(AutomotiveWire)--Aug. 21, 1997--Celebrity Network Inc. (OTC/BB:CNWN) Thursday announced that it has finalized the acquisition with Monster Motorsports Inc. (MMI (Man Machine Interface) See HMI. 1. MMI - Man-Machine Interface. 2. (company) MMI - The company which developed the first Programmable Array Logic devices. MMI was bought by AMD. ) of Escondido, Calif. Monster Motorsports specializes in postproduction and distribution of upscale custom automobiles, including the Laforza, an Italian-made sport utility vehicle (SUV). Under the terms of the final agreement, current MMI President Dave Hops has been appointed president and chairman of the board of directors. Per the terms of the plan of reorganization, the company has approved a 1 for 20 reverse split of its common stock. The company has also filed with the National Association of Securities Dealers National Association of Securities Dealers (NASD) Nonprofit organization formed under the joint sponsorship of the investment bankers' conference and the SEC to comply with the Maloney Act, which provides for the regulation of the OTC market. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). ) and the secretary of the state the appropriate amendments requesting a name change to Laforza Automobiles Inc., as well as a new cusip and stock symbol, "LFZA" (if available). All changes will take effect at the open of trading on Aug. 28, 1997. The newly reorganized company will focus its primary attention on marketing and distribution of the Laforza (SUV). The company plans to market its customized "North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. " model on a limited production basis carrying a retail price of $55,900. -0- Visit the company's Web site at www.laforza.com . CONTACT: Celebrity Network, San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. Ed Bracken bracken or brake, common name for a tall fern (Pteridium aquilinum) with large triangular fronds, widespread throughout the world, often as a weed. , 619/675-4449 or Laforza Automobiles Inc., San Diego 619/738-7592 www.laforza.com |
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