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PRESS RELEASE
SPORTSNUTS ANNOUNCES SPIN-OFF
OF TECHNOLOGY SUBSIDIARIES
Company to Focus Exclusively on Opportunities in the Sports Industry
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DRAPER, Utah - (PR NEWSWIRE) - October 12, 2004 - SportsNuts
(OTC BB: SPCI) today announced that the Board of Directors has approved the
spin-off of both of the Company's information technology-based subsidiaries.
The spin-offs represent a move by SportsNuts to concentrate the Company's
business in the sports industry and allow its subsidiaries to grow
independently of the Company. The two subsidiaries, Synerteck Incorporated and
Secure Networks, Inc., provide information technology services and sales of
computer hardware. The Board of Directors has announced that November 1, 2004
shall be the record date for purposes of the spin-off of Synerteck, and, if
market conditions are favorable, the spin-off of Secure Networks would take
place after the beginning of 2005.
Each of the spin-offs will be made on a pro-rata basis to the shareholders of
SportsNuts. SportsNuts has mailed an information statement to its shareholders
describing the Synerteck spin-off and how and when SportsNuts shareholders will
receive shares of Synerteck. Synerteck 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 electronic
bulletin board.
Kenneth Denos, Chief Executive Officer of SportsNuts stated, "the spin-off of
these subsidiaries will enable SportsNuts to focus exclusively on one industry
and take advantage of being a pure sports-oriented play in the marketplace. In
addition, because SportsNuts shareholders will receive shares of our
subsidiaries as a result of the spin-offs, these actions are expected to unlock
value within these subsidiaries for the benefit of our shareholders."
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About SportsNuts, Inc.
SportsNuts is a sports management and marketing company that
also possesses a proprietary and comprehensive sports information management
system. The Company owns and operates sports events in the Rocky Mountain area
and provides comprehensive technology solutions to a wide variety of sports
organizations and events throughout the United States. The Company's mission is
to become the leading global provider of turnkey solutions for the amateur
sports market (teams, leagues, fans, players, coaches, administrators, park and
recreation professionals, and event directors).
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. Denos, Chief Executive
Officer, at 11585 South State, Suite 102, Draper, Utah 84020.
This press release contains certain "forward-looking statements," as defined in
the United States Private Securities Litigation Reform Act 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.
SOURCE: SPORTSNUTS, INC.
Kenneth I. Denos, Chief Executive Officer (801) 816-2500
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SportsNuts' Spin-Off Could Mean Profits for Shareholders
Synerteck Reports $ .04 Earnings Per Share for 2003 and $.03
Earnings Per Share for Nine-Months Ended September 30, 2004
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DRAPER, Utah, Oct 25, 2004 /PRNewswire-FirstCall via COMTEX/
- SportsNuts (OTC Bulletin Board: SPCI) is pleased to announce that
Synerteck Incorporated, a wholly-owned subsidiary to be spun-off to the
SportsNuts shareholders on November 1, 2004, has reported earnings per share of
$.03 for the nine-month period ended September 30.
On October 12, the SportsNuts Board of Directors announced that all SportsNuts
shareholders of record as of November 1, 2004 would receive approximately 1
share of Synerteck Incorporated for every 225 shares of SportsNuts they own as
of the record date. Synerteck's shares have been registered with the Securities
and Exchange Commission to be free trading. Synerteck is a reporting company
under the Securities Exchange Act of 1934.
"Synerteck has been a solid performer for our shareholders" commented Kenneth
Denos, Chief Executive Officer of SportsNuts and a member of the board of
directors of Synerteck. Management expects Synerteck's profits to continue and
grow after the spin off. Synerteck offers a full range of business technology
solutions, to international clients in France, The United Kingdom, South
Africa, Canada, the United States, and Germany. Synerteck's services include:
- custom application programming;
- customized network infrastructure engineering, architecture, and
support;
- wide-area and local-area network systems development and hosting;
- telecommunications system services and integration;
- website design and hosting;
- remote access e-mail hosting; and
- hardware lease brokering. |
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About SportsNuts,
Inc.
SportsNuts is a sports management and
marketing company that also possesses a proprietary and
comprehensive sports information management system. The
Company provides comprehensive technology solutions to a wide
variety of sports organizations and events throughout the
United
States. The Company's mission
is to become the leading global provider of turnkey solutions
for the amateur sports market (teams, leagues, fans, players,
coaches, administrators, park and recreation professionals,
and event directors).
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. Denos, Chief Executive
Officer, at 11585 South State, Suite 102, Draper, Utah 84020.
This press release contains certain "forward-looking statements," as defined in
the United States Private Securities Litigation Reform Act 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.
CONTACT: Matt Maguire, Big Apple Consulting USA, Inc., 407-884-0444 or
866-THE-APPLE
or for more information please visit www.sportsnuts.com
.
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SportsNuts On a
Mission to Harness The Nation's Passion for Sports - As
Reported by Wallstreetcorner.com
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DRAPER, UT, October 28, 2004 /PRNewswire-First
Call / - SportsNuts, Inc. (OTCBB: SPCI News) is pleased to announce that they
have been featured on Wallstreetcorner.com. In his
interview with Larry Oakley, SportsNuts CEO Kenneth
Denos stated that "management's primary goal is to
harness the passion for sports that is prevalent in our
country."
Wallstreetcorner.com reported
that SportsNuts helps organize & manage a
wide variety of sports events, including non-traditional
sports. It makes events more profitable & efficient
by promoting them through various media channels,
attracting corporate sponsorships, & providing
technology tools to decrease administrative &
personnel costs. The company is able to generate
additional revenues through the sale of merchandise
through their online sports mall at www.sportsnuts.com.
"I am impressed with Ken
Denos' enthusiasm, which is spread through the entire
company. I
was surprised to learn that community sports dominate
the sports world. More than $75 billion (yes - with a B)
is spent each year on community sports. Family members
are obviously willing to spend money on community
sports, so SportsNuts addresses a rather big
market.
SportsNuts provides turnkey solutions for the
amateur sports market. That market includes teams,
leagues, fans, players, coaches, administrators, park
& recreation professionals, & event directors.
Examples include little leagues, community colleges,
division two teams, marathon events, etc.,
etc." stated Larry Oakley,
Wallstreetcorner.com.
"We
expect revenues in 2004 to be between $900,000 and
$1Million, up from $660,000 in 2003." stated Ken Denos,
SportsNuts CEO
In his article Mr. Oakley pointed to the fact
that SportsNuts owns several community sports events -
one example is the
Ogden,
Utah marathon.
Management's expectation is to make several acquisitions
of a vertical nature, using both stock & earn-out
arrangements. All of the infrastructure for managing
acquisitions is already in
place.
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About SportsNuts,
Inc.
SportsNuts is a sports management
and marketing company that also possesses a proprietary and
comprehensive sports information management system. The
Company provides comprehensive technology solutions to a wide
variety of sports organizations and events throughout the
United
States. The Company's mission
is to become the leading global provider of turnkey solutions
for the amateur sports market (teams, leagues, fans, players,
coaches, administrators, park and recreation professionals,
and event directors).
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. Denos,
Chief Executive Officer, at 11585 South State, Suite 102,
Draper, Utah 84020.
For Larry Oakley's
complete article visit www.wallstreetcorner.com.
Safe
Harbor This release includes
forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933 and Section 27E of the
Securities Act of 1934.
Statements contained in this release that are not
historical facts may be deemed to be forward-looking
statements.
Investors are cautioned that forward-looking statements
are inherently uncertain. Actual performance and
results may differ materially from that projected or suggested
herein due to certain risks and uncertainties including,
without limitation, ability to obtain financing and regulatory
and shareholder approvals for anticipated
actions.
Contact:
Big Apple Consulting USA,
Inc. for SportsNuts,
Inc. Matt Maguire, 407-884-0444 or
1-866-THE-APPLE Website: www.sportsnuts.com
Source: SportsNuts,
Inc.
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