Business & Finance
Business and Finance
Business and Finance
Mon, January 26, 2009
Sat, January 24, 2009
Fri, January 23, 2009 Pine Ridge Holdings, Inc.: Pine Ridge Holdings Makes Announcement Concerning ServeNation
FORT WAYNE, IN--(Marketwire - January 23, 2009) - Today, Pine Ridge Holdings, Inc. (
Within the past couple of weeks, ServeNation was informed by several gift card sources that there have been scams in the gift card industry involving pink sheet companies. Since PINR is a pink sheet company it makes it more difficult or in some cases impossible for gift card companies to provide ServeNation with cards. In fact, today, ServeNation stores are currently offering about 30 fewer choices of cards than just two weeks ago. May stated, "To ensure the survival and long term success of ServeNation, we will immediately be removing any information related to ServeNation from our website and ending our involvement with the company."
May concluded, "This situation with ServeNation is extremely disappointing and has caused PINR to review its future plans. We have already begun investigating the requirements to become fully reporting. We are also looking at new holdings. Pine Ridge Racquet and Pine Ridge Fitness have had encouraging starts in 2009 despite the weak economy. PINR is a solid company and needs to be in a market of solid companies. These decisions have taken some time. PINR realizes that communication with its investors is important and hopes that its investors realize that silence during these past weeks was critical. We will be keeping our investors informed as we move up and begin open reporting. Please feel free to contact me with any questions."
Shareholders are encouraged to visit [ http://www.pineridgeholdings.com ] for informational updates.
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. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company's ability to develop operations, the Company's ability to consummate and complete the acquisition, the Company's access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company's public announcements.
