Washington, D.C. (PRWEB) August 3, 2007
Textechnologies (TXTG.pk) has announced that yesterday it rescinded an agreement with Centrabell Ltd, a UK printing company. This decision was made by the Board due to the Centrabell’s continuing financial performance coupled with the loss of its largest customer. The original full consideration of 3,000,000 common shares of Textechnologies is being returned to Textechnologies’ Treasury. The Board determined it in the best interest of the shareholders of the company to exit the agreement and by so doing allow the future investment of Textechnologies funds into more secure relationships.
"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. These risks and uncertainties include the Company's entry into new commercial businesses, the risk of obtaining financing, recruiting and retaining qualified personnel, and other risks described in the Company's Securities and Exchange Commission filings. The forward looking statements in this press release speak only as of the date hereof, and the Company disclaims any obligation to provide updates, revisions or amendments to any forward looking statement to reflect changes in the Company's expectations or future events.
David E. Price Esq.
david @ textechnologies.com