SOURCE: Apple Rush Co., Inc.

April 21, 2011 09:22 ET

Apple Rush Co., Inc. Granted Motion to Vacate Judgment in Ashman Law Offices Matter

GLENVIEW, IL--(Marketwire - Apr 21, 2011) - Apple Rush Co., Inc. (PINKSHEETS: APRU) is pleased to announce that the Company has reached a settlement and granted a motion to vacate a judgment in favor of Ashman Law Offices, LLC (ALO) against Apple Rush. As part of the settlement agreement, approved by the Circuit Court of Cook County Illinois, the ALO judgment debt of $23,634 has been assigned to third parties and all judgments held by ALO against Apple Rush have been satisfied.

In further news, the Company reported the results as filed in the Company's 2010 year-end financials. The net loss for the fiscal year decreased by $320,586, in which a net loss of $179,549 was reported for the twelve months ended December 31, 2010, as compared to the fiscal year ended December 31, 2009, in which Apple Rush reported a net loss of $500,135. Revenues for the three months ended December 31, 2010 increased to $47,686 versus $33,652 for the three months ended December 31, 2009, a gain of $14,034. Gross profit increased by $10,161 for the last quarter of 2010 versus 2009 primarily due to the decision to eliminate the 4-pack offering, thus reducing a significant amount of raw material and printing expenses.

"We are working real hard to clean up the Company's overall financial outlook," stated Robert Corr, President.

Apple Rush Company, Inc. produces Organic 100% Juice Sparkling Beverages.

Safe Harbor: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for public news releases. Statements, which are not historical facts, are forward-looking statements. The Company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify such factors. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the Company's public announcements.

Source: Apple Rush Co., Inc.

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