Global Entertainment Holdings/Equities Announces Settlement Reached With Shareholder Group.Business Editors/High-Tech Writers MIAMI--(BUSINESS WIRE)--March 25, 2004 Global Entertainment Holdings/Equities, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GAMM GAMM Generalized Air Mobility Model GAMM Gimbal Angle Matching Monitor GAMM German Association for Mathematics and Mechanics ) (www.globalentertainmentinc.com) ("Global") announced that it has reached an agreement with Steven Abboud personally and in his capacity representing Global's holdings by Shining Star Investments, Inc., Masadi Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , Inc., Travina Corporation N.V., and certain individuals, to release all parties from any claims made between the parties. In connection with this settlement, the parties will file requests for dismissal of all outstanding lawsuits in the appropriate courts immediately. Under the signed preliminary agreements, all other terms and conditions of the agreement are confidential. "We are very pleased with reaching this agreement," said Bryan Abboud, President of Global. "With the litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. behind us, management and the company's resources can be focused on building the business." About Global Entertainment Holdings/Equities, Inc. Global Entertainment Holdings/Equities, Inc. (OTCBB:GAMM), is a publicly traded holding company that provides business development support and administrative assistance for technology-driven subsidiaries that license, develop and host Internet software applications for the online entertainment and gaming sector. 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. Statement Statements in this press release that are not historical including statements regarding Global's or management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are 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, Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Such statements include statements regarding the Company's and management's ability to build the business. It is important to note that the Company's actual results could differ materially from those in any forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. Factors that could cause actual results to differ materially include management's ability to perform in building the business as indicated and other risk factors listed from time to time in the Company's SEC reports, including but not limited to, the annual report on form 10-KSB for the year ended December 31, 2002 and the quarterly report on form 10-QSB for the periods ending March 31, 2003, June 30, 2003 and September 30, 2003. This press release does not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy any securities. |
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