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RightSmile, Inc. to Terminate its Form D and Cancel the 504 Offering

^{Published on 2011-04-26 05:00:51 - Market Wire}
 

FORT LAUDERDALE, Fla.--([ BUSINESS WIRE ])--RightSmile, Inc. (Pink Sheets:RIGH) has decided to cancel the Form D, 504 offering that was filed by the previous management. The offering has raised the Company only $12,000 to date and current management believes that continuation of the offering would be too costly to the Company in terms of equity it would need to issue.

The Company has located the auditing firm retained by prior management and plans on paying the past due invoice and collecting all documentation, then retain a new audit firm to complete the audit. Current management cannot speculate on why the audit stopped other then the firm not being paid, but wants to retain a new audit firm that specializes in SEC audits. Once the Company has completed audited financials for 2009 and 2010, it can file an S1 registration which will allow the Company to register shares within the S1 to be used to raise capital. The Company plans on offering ALL the shareholders an opportunity to purchase shares directly from the Company not just a special few, this can be done by offering warrants, rights, or options.

Unlike the past, current management will let the shareholders know who is working on the audit as well as the legal team working on the S1 registration.

The Company believes all other remarks made in the release to be accurate to the best of their knowledge.

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.