SOURCE: Global Business Services

October 10, 2007 14:21 ET

Global Business Services, Inc. Announces Corporate Restructuring

BEVERLY HILLS, CA--(Marketwire - October 10, 2007) - Global Business Services, Inc. (PINKSHEETS: GBNS) today announced a corporate restructuring to include a 40 to 1 reverse split of the Company's Common stock and a name change to Energetics Holdings, Inc., with a symbol and Cusip change pending.

"Now and in the future, every action will be taken with the shareholder in mind. To that end, we will incorporate our 'no shareholder left behind' policy as everyone, regardless of post split share count, will have or receive a minimum of 100 shares in the restructured company," stated Rodney Peterson, President of Energetics Holdings, Inc.

The date of record will be October 19, 2007. Currently, the Company has approximately forty-eight million issued and outstanding shares.

"This is a great day for Energetics shareholders. This restructuring will enable us to gain the appropriate levels of financing to complete acquisitions currently in the negotiations stage, accelerating our emergence in the oil and gas sector," added Mr. Peterson.

About Energetics Holdings, Inc.

Energetics Holdings, Inc. is an energy resource company that is committed to evaluating energy resource properties, the acquisition of existing production and subsequently, drilling oil and natural gas reserves in the mid-continent and gulf coast regions of the continental United States.

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

Contact Information

  • Contact:
    Investor Relations
    Tom Kudlawiec
    480-240-1700