Champions Sports, Inc. To Diversify into High-Technology.Business Editors/Hi-Tech & Financial Writers ARLINGTON, Va.--(BUSINESS WIRE)--Aug. 23, 2000 Champions Sports, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Bulletin Board: CSBR CSBR Center for Sustainable Building Research ), best known for its success in the sports themed restaurant business, today announced its intent to diversify into the high-technology area by expanding the management team to focus on business opportunities in that sector. To accomplish this diversification, Champions signed agreements with James J. Heigl Jr. and Harry A. Lee to take lead management roles in the Company. Heigl joins Champions as its Chairman and 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. , and Lee joins as COO and Director. Heigl, a West Point graduate, was a long time executive with Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. and Novadyne Computer Systems before becoming active as an entrepreneur involved with many emerging technology companies. Heigl has been a highly active and visible member of the information technology community for 30 years. Lee, a Naval Academy graduate with over 20 years in information technology and technology management, founded and recently sold Gestalt Gestalt (gəshtält`) [Ger.,=form], school of psychology that interprets phenomena as organized wholes rather than as aggregates of distinct parts, maintaining that the whole is greater than the sum of its parts. Systems, Inc., a pioneer and leader in Technology Training, Certification and Courseware Development. As an active venture capital investor and founder of The CEO Advisory Group, Lee has worked with many emerging technology companies guiding and advising new CEO's to assure their success. James Martell, President of Champions Sports, Inc. said, "In Heigl and Lee, Champions has gained seasoned leadership, management experience and a great entrepreneurial spirit and talent to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. business opportunities in high-technology." This press release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " (within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995) that inherently involve risks and uncertainties. All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of unforeseen external factors. These factors may include, but are not limited to, changes in general economic conditions, customer acceptance of products or services offered and other general competitive factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or expectation only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. |
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