SOURCE: Bark Group Inc.

Bark Group Inc.

September 13, 2010 09:55 ET

Bark Group Inc. to Further Optimize Operations and Reduce Debt

NEW YORK, NY--(Marketwire - September 13, 2010) - Bark Group Inc. (OTCBB: BKPG), an innovative integrated U.S. advertising and performance based marketing company with a multinational client base, announced today that the Company has entered into a process of further reducing corporate debt. Following the decision to close one of its smaller affiliate offices in Copenhagen a few weeks ago, Bark Group Inc. has decided to dispose of its remaining "non operational" holding companies in Denmark, including Bark A/S, Bark Advertising A/S, Bark Media Aps, and Bark Property, due to the fact that they have now become obsolete.

"The disposal of the Danish companies, and thereby their accrued debt, will reduce our monthly and yearly cost in the time to come," said Bent Helvang, Chairman of the Board. Mr. Helvang emphasized the importance of future high revenues and profits in the Company's remaining affiliate and now principal operating company, Bark Stockholm, which recently invested a small stake in a media company in Norway.

"We are determined to strengthen our financial balance sheet in order to be profitable in the years to come," declared Mr. Helvang, who also emphasized that new acquisition targets are being pursued in the near future.

About Bark Group Inc.

Bark Group Inc. is a pioneering U.S. communications company aiming to create a network of multiplatform media and advertising houses by acquiring profitable and innovative media and advertising companies in order to rapidly expand its presence in the U.S. and Europe. Through its growing network of companies, Bark is adding more competencies and media under one roof, expanding its customer and revenue base and ultimately winning significantly larger international clients.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company.

For more information about Bark Group Inc. visit www.barkgroup.com or contact Stanley Wunderlich at (800) 625-2236, extension 7770, or info@cfsg1.com.

Contact Information

  • CONTACT:
    Stanley Wunderlich
    Consulting For Strategic Growth 1, Ltd.
    880 Third Ave, 6th Floor
    New York NY 10022
    Telephone: (800) 625-2236 ext. 7770
    e-Fax: (646) 205-7771
    Email: Email Contact