SportsQuest, Inc. (SPQS: OTC Link) | SPQS 4th Quarter Share Structure


SPQS 4th Quarter Share Structure

Oct 26, 2012

OTC Disclosure News Service

Orlando, FL –

 Oct. 26, 2012 (OTC MARKETS NEWSWIRE) — SportsQuest, Inc. (SPQS), a publicly-traded holding company, announces no changes in share structure in 4th quarter.

At a board of directors meeting October 24th, 2012 SPQS has decided the best course of action is to try to alleviate the current “chill” in place with the DTCC (Depository Trust Clearing Corporation).  SPQS has announced the following corporate actions to stay in place for the 4th Quarter and end of the Calendar Year 2012.

1.            SPQS will not commence a reverse split of its stock. 

2.            SPQS will not raise its authorized shares, currently (4,000,000,000).

3.            SPQS will not issue any additional shares in the 4th quarter 2012.

These actions will be put in place for the end of 4th quarter 2012 and rest of the calendar year 2012.  SPQS may revisit these options in 2013 but its primary concern is to be fully functional with DTCC.

CEO of SPQS Jeffery Burns said:  “The value of its stock is the life blood to a publicly traded company.  We have made some clear decisions to be able to ensure we achieve the best tradability for ours.  As our course of corporate action is clear for the rest of the year we are can now put our full efforts on our subsidiary Zabo Foods.”

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains “forward-looking statements” as defined under the U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will,” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the company’s historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions, regulatory and legal changes, technology, industry risk, valuation risk, non-diversification risk, interest rate risk, tax risk, and other risks discussed in the company’s filings. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the company’s objectives will be attained.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

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