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Snocone Systems Inc. Announces Symbol Change Pursuant to Acquisition of Who's Your Daddy, Inc. and Completion of Reverse Stock Split on a 1:5 Basis.


VANCOUVER, British Columbia -- Snocone Systems Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:SCSY SCSY Security Council Simulation At Yale ) (formerly SCOS SCOS Supply Chain Operating Services (i2)
SCOS Standing Conference on Organizational Symbolism
SCOS Spacecraft Operating System
SCOS Scottish Chamber of Safety
SCOS Service Center Organization Study
) ("Snocone" or the "Company"), is pleased to announce that it has completed its due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired.  evaluation, and is now moving forward with the acquisition of 100% of the shares of Who's Your Daddy, Inc. ("Who's Your Daddy" or "WYD a. 1. Wide. ") in a share exchange agreement.

Pursuant to the acquisition of Who's Your Daddy, the Company has completed a reverse stock split on a 1:5 basis. The new trading symbol Trading symbol

See: Ticker symbol
 for Snocone, SCSY, is effective immediately.

The share exchange is expected to close within the next 15 days.

Immediately after the closing of the acquisition of Who's Your Daddy, the Company will change its name to Who's Your Daddy, at which time a new trading symbol will be issued to better identify the Company.

As per the terms of the share exchange agreement, the Company will receive a first round of bridge financing in the amount of $500,000 against an initial funding commitment of $2,000,000. As the Company moves forward, a second round of financing, up to an additional $3,000,000, will be made available as needed for operations.

Dan Fleyshman, President of Who's Your Daddy, states: "We have spent the past several years in tying down the Who's Your Daddy trademark. We currently have trademark protection for the production and distribution of over 300 products. We expect this year to be the year that WYD makes a major push of the WYD brand worldwide, from which there will be no looking back."

Who's Your Daddy designs and licenses a variety of products centered around our trademark protected brand, "Who's Your Daddy," which appeals to young men, women, and sports fans, who strive for "style with authority." Who's Your Daddy, the Company, holds trademark rights to "Who's Your Daddy" in the United States, Canada, Europe and is in the process of obtaining trademark rights in Australia and Japan.

This material includes forward-looking statements based on management's Current reasonable business expectations. In this document, the words "can," "anticipates," and similar expressions identify certain forward-looking statements. These statements are made in reliance on 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 , Section 27A of the Securities Act of 1933, as amended. There are numerous risks and uncertainties that could result in actual results differing materially from expected outcomes. The material should be read in conjunction with the Company's current annual and quarterly reports filed with the SEC, which contain discussions of currently known factors that could significantly impact the Company's future.

Snocone Systems Inc. (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.
:SCSY)
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Mar 18, 2005
Words:427
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