FBC Holdings Announces Favorable Settlement in California Case
NEW YORK, Aug. 13, 2012 /PRNewswire/ -- (OTC Markets: FBCD) FBC Holdings announced today that the Company has reached and executed a definitive settlement of the action brought against the company by California Asset Recovery Systems, Inc. Under terms of the agreement the settlement did not involve any issuance of shares of FBCD. Additionally we are going to be adding independent experts to the board in the industries we are pursuing.
FBC Holdings' CEO, Christopher LeClerc, said that, "This settlement will allow us to move forward with building our business, which will focus on both our introduction of The Bomb Factory, which is a line of unique products for the extreme sports industry. Extreme sport is the fastest growing segment of the sports industry. According to a report just this year by Global Industry Analysts, global demand for extreme sports is expected to surge, backed by increased spending and participation as well as an ebbing of a global recession. We can only anticipate that this bodes well for The Bomb Factory's products. Additionally we will be providing new updates on www.urtoice.com, where people can register now to be vendors or buyers."
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