Floor Decor, Inc. Begins Trading Under New Symbol - FLOR; ``Home Depot Type'' Concept for Carpet and Flooring Trades Under New Symbol After Reverse Merger.Business Editors FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 6, 2001 Floor Decor announced today that it is trading under a new symbol. The Company received approval by the 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 - OTCBB OTCBB See OTC Bulletin Board (OTCBB). to begin trading under the symbol - FLOR FLOR first line of response . Floor Decor completed a reverse merger with Media Communications Group, Inc., an existing public company, on May 22, 2001 and began trading on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. , initially, under the symbol MCGI MCGI Members of the Church of God International (Philippines) MCGI Member of the City & Guilds of London Institute (UK) MCGI Morse Construction Group Incorporated . "We are pleased to have been able to change our symbol so soon after the merger we recently completed," said A.J. Nassar, Chief Executive Officer of Floor Decor. "Now we can further develop the Floor Decor brand and corporate identity. Our management team is excited about the prospects of building a major retail "category killer Category Killer Large companies that put less efficient and highly specialized merchants out of business. Category killers can attain this status by being cheaper, easier, bigger, or more popular than the competition. " in the carpet and flooring industry." About Floor Decor Floor Decor, Inc. is developing a chain of "big box superstores" that offers a wide selection of floor coverings including carpet, area rugs, wood, and laminates at discount prices to both commercial accounts and consumers. The Company's initial store, based in Ft. Lauderdale is over 50,000 sq. ft and stocks an extensive product line including over 5,000 area rugs and 1,000,000 sq. ft. of other floor coverings. The Company's business strategy is to grow rapidly by acquiring existing dealers that traditionally have only sold to the commercial homebuilder trade. These acquired businesses will be consolidated into Floor Decor's superstore format that also caters to the general public. The Company expects to develop the decorator trade by continuing to offer commissions and other incentives via its professional member program. Except for historical matters contained herein, the matters discussed in this press release are forward-looking and are made pursuant 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. provisions 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. Investors are cautioned that these forward-looking statements reflect numerous assumptions and involve risks and uncertainties that may affect Floor Decor, Inc. and its subsidiary businesses and prospects and cause actual results to differ materially from these forward-looking statements. Among the factors that could cause actual results to differ are Floor Decor, Inc.'s operating history; competition; low barriers to entry; reliance on strategic relationships; rapid technological changes; inability to complete transactions on favorable terms; and those risks discussed in the Company's filings with the SEC. Home Depot is a registered trademark of the Home Depot Corporation. |
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