Vitamin Blue Announces up to 5 Million Shares Buyback in Open Market Starting Week of March 4
Company Looking to Enter 7 Billion USD Eco Surfing Market
(firmenpresse) - COSTA MESA, CA -- (Marketwire) -- 03/01/13 -- Vitamin Blue, Inc. (OTCQB: VTMB), a developer, producer and distributor of water boardsports apparel, accessories and related products, today announced that it will buy up to 5 million shares in the open market starting the week of March 4.
CEO Frank Ornelas commented, "Our share structure has remained the same and our market cap is much lower than last month. We decided that it will be a good investment going forward to buy back shares. We believe our fair value is much greater than our current share price. We are currently in talks with a world renowned Surfer, and have several exciting developments within the next coming days."
In addition, Vitamin Blue is currently looking to enter the 7 billion USD Eco Surfing market. Surfing materials mostly contain potentially toxic neoprene and other accessories like leashes, wax and wax comb, all of which are derived from petroleum. They will take centuries to biodegrade.
Vitamin Blue wants to take eco-friendly practices in the surfing industry as manufacturers begin to experiment with materials that are recycled, biodegradable and not derived from petroleum. Whether it is boards, wetsuits, waxes, or leashes, most surfers will only buy an eco-friendly product if it performs well and is around the same price as the more toxic products. The company wants to position itself ahead of the curve to become a pioneer in this new market.
About Vitamin Blue, Inc. ():
Vitamin Blue designs, develops, produces and distributes water boardsports apparel, accessories and related products. Founded in 1999, the Costa Mesa, California based company is part of the consumer goods sector and non-durables industry.
Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plans and strategies. Although we believe that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those expressed in the forward-looking statements, including, without limitation, the factors described under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" of our Securities and Exchange Commission filings.
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 01.03.2013 - 15:30 Uhr
Sprache: Deutsch
News-ID 1202590
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
COSTA MESA, CA
Phone:
Kategorie:
Recreation
Anmerkungen:
Diese Pressemitteilung wurde bisher 106 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Vitamin Blue Announces up to 5 Million Shares Buyback in Open Market Starting Week of March 4
"
steht unter der journalistisch-redaktionellen Verantwortung von
Vitamin Blue, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
