CraftClick.com Chairman Resigns; Withdraws Two Year Financing Commitment.Business Editors PLAYA playa or pan or flat or dry lake Flat-bottomed depression that is periodically covered by water. Playas occur in interior desert basins and adjacent to coasts in arid and semiarid regions. DEL REY Del Rey may refer to:
CraftClick.com (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CTCK) announced today that Russell Murray resigned his position as Chairman, and has withdrawn the two year financing and operating commitment that he made to the company upon his appointment as Chairman in September 2000. In addition, the following members of the Board of Directors, appointed by Mr. Murray, have also resigned: Amy Murray and Stephen Charles Wolfe Charles Wolfe may be:
The Board of Directors now consists of Sandy Seth, Craftclick.com's President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , and Manny Manny may refer to: In nobility:
Seth stated, "Murray's withdrawal of his two year financing commitment to CraftClick.com unfortunately puts us in a very precarious situation. Our immediate funding needs are no longer being met. Additionally, we are currently unable to fulfill customer orders, as we do not have the working capital required to operate the business. "Over the last several weeks we have embarked on an aggressive cost cutting program, and have significantly cut down on our costs, personnel and overheads. "We are working diligently with our creditors to keep the Company in existence, through the sale of company assets, including various of our online arts & crafts sites, or through the merger with, or acquisition by, another entity. We are currently in discussions with certain parties to this end, and intend to keep our shareholders apprised of all material information as it becomes available." About CraftClick.com CraftClick.com (www.craftclick.com), the ultimate online Arts & Crafts destination, offers amateur and professional craftspeople crafts·people pl.n. People who practice a craft; artisans. worldwide a wealth of Arts & Crafts related content, as well as robust e-commerce capabilities, including free commerce-enabled Web pages and free email. CraftClick.com's extensive project and information library contains more than 15,000 fun and creative projects, and its Superstore offers convenient one-stop shopping for several hundred thousand Arts & crafts supplies. |
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