Business Services Industry
360 Global Wine Company's Securities to Be Removed from Quotation on the OTCBB
Business Wire, August 25, 2007
SONOMA, Calif. -- 360 Global Wine Company announced today that it received notification from the OTCBB that its securities will be removed from quotation on the OTCBB effective August 30, 2007, unless the company files an appeal by August 28, 2007. The Company intends to appeal. The notification was sent because the Company was delinquent in its reporting requirements three times in the past 24 month period violating the "three strikes" rule.
About 360 Global Wine Company:
360 Global Wine Company operates a winery and is a marketer of premium wine brands. The Company markets premium Italian and Californian wines as well as premium food products to visitors at its strategically located Italian Villa and retail Marketplace in Viansa. A geographic competitive advantage plus the unsurpassed natural beauty of the hilltop Villa and Marketplace has made Viansa the "must see" vineyard for visitors to California wine country. With approximately 250,000 visitors annually it is the most popular vineyard destination for tourists and visitors to California wine country. The Company sells its entire production of wine directly to consumers in the Marketplace. In addition, the Company converts a significant percentage of its visitors into long term members of its wine club, which is one of the largest wine clubs in the US with over 11,000 members. The Company currently produces over 50,000 cases of wine annually including 12 different Italian varietals and 11 California varietals. Approximately 50% of sales are to wine club members and 50% are on site at the Marketplace. The company also engages in catalog and e-commerce sales and has built a significant customer base primarily through the conversion of its visitors into long term customers.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and subject to the Safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to the company's access to additional capital competitive factors, the company's ability to consummate its acquisition strategy, consumer acceptance of the company's products and dependence on key management.
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