SportsNuts Announces Spin-Off of Hardware Sales Subsidiary.SOUTH JORDAN, Utah South Jordan is a city in Salt Lake County in the U.S. state of Utah. The population was 29,437 at the 2000 census. As of September 1, 2007, the population was estimated at 50,109 [1]. South Jordan has been one of the fastest-growing cities in Utah since the early 1990s. -- SportsNuts (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :SPCI SPCI Single-Premium Credit Insurance SPCI Standard & Poor's Commodity Index SPCI Software Product Configuration Item SPCI Small Pci ) today announced that it will spin off Secure Netwerks, Inc., its computer hardware sales subsidiary, on March 1, 2007. Today's release follows the announcement on October 12, 2004 that the SportsNuts Board of Directors had approved the spin-off but had delayed implementation of the transaction until now. The spin-off represents a move by SportsNuts to consolidate its business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets and for Secure Netwerks to grow independently of the Company. Secure Netwerks is a computer and hardware reseller to businesses and other organizations. Most of Secure Netwerks' clients are retail buyers and small and medium sized organizations, although it seeks to market its products and services to larger organizations. The Board of Directors has announced that March 1, 2007 shall be the record date for purposes of the spin-off of Secure Netwerks. The spin-off will be made on a pro-rata basis to the shareholders of SportsNuts. SportsNuts has mailed an information statement to its shareholders describing the Secure Netwerks spin-off and how and when SportsNuts shareholders will receive shares of Secure Netwerks. Secure Netwerks has filed a registration statement with the Securities and Exchange Commission and, following the spin-off, intends to have an application filed for its shares to trade on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). electronic bulletin board. About SportsNuts SportsNuts is a sports management and marketing company. The Company owns and operates sports events in the Rocky Mountain area and provides technology solutions to various sports organizations and events. Questions concerning the above-mentioned announcement should be directed via electronic mail to info@sportsnuts.com or by regular mail to SportsNuts, Inc. c/o Kenneth I Kenneth I (Kenneth mac Alpin), d. 858, traditional founder of the kingdom of Scotland. He succeeded his father, Alpin, as king of Dalriada (the kingdom of the Gaelic Scots in W Scotland) and c. . Denos, Chief Executive Officer, at 10757 South River Front Parkway, Suite 125, South Jordan, Utah 84095. This press release contains certain "forward-looking statements," as defined in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. 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, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such risk factors are detailed from time to time in the Company's filings on forms 10-QSB, 10-KSB, and 8-K with the U.S. Securities and Exchange Commission and other regulatory authorities. |
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