WEST PALM BEACH, FL — (Marketwired) — 12/04/15 — BullsNBears.com, Inc. (OTC PINK: BNBI) today announced that on December 1, 2015 its Board of Directors approved changing the company–s name to “Michael James Enterprises Inc.” and filing with FINRA for a new stock ticker symbol, both of which will be effective December 11, 2015.
Additionally, the Company announced that its wholly owned subsidiary, BullsNBears Holdings, Inc. will file a registration statement with the Securities and Exchange Commission in connection with the proposed spin-off of that subsidiary and its proprietary Financial Networking Portal into a standalone, publicly traded company through a previously announced shareholder dividend.
The changes are in preparation for the Company–s planned acquisition of Michael James Enterprises, Inc., which is a Direct Response Marketing Company and which will enhance its growth strategy leveraging its Public company status for future capital raises, marketing, branding and advertising while gaining investor visibility.
James M. Farinella, CEO, stated, “This is another very important step in the process for Michael James Enterprises, Inc. (MJE). Operationally we began the process this week of creating the samples for the acne treatment system. These samples are expected to be ready in early January 2016 for delivery to the independent verification group to begin before and after pictures, competitive products comparisons, testimonials and the like. We are highly confident of what the results will be because private testing of the product has already been conducted. I am very excited to complete the acquisition of MJE into BNBI in the very near future.”
“The imminent filing of the registration statement is an important step in our plan to establish BullsNBears Holdings as a separately traded public entity,” said James Palladino, the Chairman and CEO of the post spun-off BullsNBears Holdings. “We are confident that establishing these two highly focused companies, each with its optimal corporate structure, will allow our shareholders to more fully benefit from the compelling value creation opportunities associated with each business.”
The spin-off will be effected by a distribution of BullsNBears Holdings shares on a pro-rata basis to the shareholders of the Company as of the November 20, 2015 record date as previously announced as a special dividend. The registration statement includes a preliminary information statement about the terms and conditions of the spin-off, as well as important information about BullsNBears Holdings as a standalone business, including BullsNBears Holdings financial information and operating growth strategies. Shareholders who want more information regarding the spin-off of BullsNBears Holdings, including the potential benefits and risks associated with the transaction, should review the registration statement, which will be available on the SEC–s website .
The completion of the spin-off is subject to a number of conditions including the receipt of a favorable opinion with respect to the tax-free nature of the transaction for federal income tax purposes and final approval by the new Michael James Enterprises board of directors. The spin-off is not subject to Michael James Enterprises shareholder vote.
All shareholders should be advised that certain online stock quote sources might not immediately report the new name and ticker effectively. Regardless, the Company is expected to trade as usual.
BullsNBears.com, Inc. is a developmental stage company, focused on developing a Social Media Financial networking platform to be used by companies and individuals in the Financial Community.
We are a direct response marketing company. We identify and engage in the development and market of consumer products. We employ four primary channels: Direct Response Television (Infomercials), Television Shopping Networks, Internet and Retail Outlets. We have identified several candidate products for development with our first product launch expected in the first half of 2016. This first product launch will be for a revolutionary new approach to treating acne. Michael James Enterprises, Inc. (MJE) has acquired the exclusive patent rights to the science for the treatment of acne in North America.
This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as “would,” “may,” “will,” “expects,” and other terms with similar meaning. Forward-looking statements are based on current beliefs, assumptions and expectations and speak only as of the date of this release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.
If you would like additional information on BullsNBears.com, Inc.,
Please contact us at:
6586 W. Atlantic Ave.
Suite 103
Delray Beach, FL 33446
Tel: (561) 692-2800
Integrated Capital Partners, Inc.
784 Morris Turnpike
#334
Short Hills, NJ 07078
Tel: (908) 204-0004
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