Ocean Resources Announces the Sale of Ocean Boomer.DALLAS -- Ocean Resources, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :OCRI OCRI Ottawa Centre for Research and Innovation ) announced that the Admiralty Admiralty, in British government, department in charge of the operations of the Royal Navy until 1964. Originally established under Henry VIII, it was reorganized under Charles II. Marshall in Gibraltar has concluded the sale of Ocean Boomer and related equipment. "Despite many months of negotiations with individuals and groups, we were unable to entice sufficient investment into the Company to satisfy our secured debt obligations. Without the necessary funds, the Company had no other option than to acquiesce to the sale," said Mr. Andrew Way, Ocean Resources' President 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. . "When we wrested control of the company from MAC Partners, LP in January, we had no idea of the magnitude of the problems they left behind. Raising investment capital proved impossible, and despite investing personal funds, support from many shareholders, and the entire team working without pay and covering their own expenses, we were unable to attract the financial support we needed. We will spend the rest of the year endeavoring to generate revenue to settle any of the company's remaining creditors and then take a view as to the strategic future of the business by year end." In other news, the Company announced that it has been successful in its lawsuit against Stephen H. Durland, a former CFO See Chief Financial Officer. . The Company alleged that Mr. Durland materially breached his Employment Agreement. On April 15th, the Court ordered a Final Judgment in favor of the company for $380,000 plus attorney fees. The Company also announced the appointment of Mr. Steven Sanit to the Board of Directors. Mr. Sanit currently serves as the Chief Financial Officer and Corporate Secretary. This press release may contain "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. ." All statements, other than statements of fact, included in this release and without limitation statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. About Ocean Resources, Inc. Ocean Resources, based in Dallas, is a unique marine salvage Marine salvage is the process of rescuing a ship, its cargo and sometimes the crew from peril. Salvage encompasses rescue towing, refloating a grounded ship or patching or repairing a ship. operator with intellectual resources and experience that enable it to cost-effectively retrieve vast supplies of "commodity treasures" from shipwrecks This list of shipwrecks is of those ships whose have been located. Africa East Africa
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