SOURCE: DC Brands International, Inc.

March 21, 2007 18:39 ET

DC Brands International: Pledges Future Transparency to Shareholders

DENVER, CO -- (MARKET WIRE) -- March 21, 2007 -- Today, DC Brands International (PINKSHEETS: DCBI) pledged financial transparency to its shareholders moving forward. The company's President & CEO Richard Pearce said, "I am on the record as saying that we did not deserve the halt in trading and set back we suffered from the SEC. However, I am also on the record as saying and I still wholeheartedly believe they were simply doing their jobs, and so were we. Facts are, there are some shady characters on this side of the Pink Sheets and that is why we want to start the process now of moving up and out as quickly as possible. This recent set back should be behind us for good as of one minute before midnight tonight and trading should begin with the opening bell tomorrow morning. We are continuing to be very busy with the task of just keeping up with demand. However, this is certainly an issue we take very seriously. I want all of our shareholders to know that we are taking every conceivable step to ensure this does not ever happen to us again."

Mr. Pearce continues, "The first step, which we have completed, was to gather a complete and detailed due diligence file on all past press releases going back 90+ days to prove the absolute validity of any and all releases that may have contributed to the incredible increase in our share price and volume. We are also in the process of implementing procedures to maintain similar files on all press releases from this point on and will make copies immediately available to regulators upon request. These files include the names, addresses, contacts, etc. related to any and all parties, companies, details of any meetings, also travel documents, who we met with and when, where, etc. Furthermore, the files will include any and all related letters, emails, or other correspondence between us and our customers, distributors or retailers or other pertinent parties as they relate to any publicly disclosed information. We will assemble all purchase orders and our canceled checks showing our purchases of all products and POP materials or other forms of promotions and advertising we have announced. We will leave no stone unturned.

"The next huge step will be retaining a prominent accounting firm which I hope to do as soon as next week but for sure within two weeks or so," states Mr. Pearce. "We are down to two major firms and both are heavyweight outfits that can help us tremendously as we expand and reach one new level after another. Whichever group we choose, we will rely on them to ensure we cross every 'T' and dot every 'I' so we do not get knocked off our horse like that ever again. Everything we have reported, which caused the rapid increase in volume and stock price, can be completely documented. I can honestly say, we are very excited with what's in the pipeline for our company and its products. We are in the process of final negotiations with several major retailers and our hope is to announce those names in April. However, we will stick to our practice of waiting until the 'ink is dry' and firm commitments are in hand to announce anything."

Mr. Pearce further states, "I absolutely give my word to all of our shareholders that you can look forward to straight, honest and timely quarterly reporting of our news and full transparency of any necessary financial figures. The reason for that is it will take some time to get through the process of getting all numbers to our new firm. I also want everyone to know that we understand that this absolutely has to happen in order for us to take this company where it is headed and where we want to go; which is up and off the grey market side on the Pink Sheets and then on to the bulletin boards and beyond. We can and will, if we can keep the type of progress we are experiencing happening. This will mean filing a 15C211 which I will be traveling to Dallas next Wednesday to discuss with our attorneys. We wanted to do all of these things a year ago and we got blind sided with the bad leaking product that devastated us all the way through last November's shareholder open house meeting, which we detailed and made available to any and all shareholders who requested a copy. We apologize to all of our shareholders for this unfortunate set back and I want to ensure all of you that what we are doing is very real and incredibly exciting. I also want to thank the untold number of you that have been so kind, supportive and understanding during this trying time."

For more information on the company, visit their web site at and Primary Contact: Keith Howard 303-279-3800

Note: Except for the historical information contained herein, this news release contains forward-looking statements that involve substantial risks and uncertainties. Among the factors that could cause actual results or timelines to differ materially are risks associated with research and clinical development, regulatory approvals, supply capabilities and reliance on third-party manufacturers, product commercialization, competition, litigation, and the other risk factors listed from time to time in reports filed by DC Brands International with the Securities and Exchange Commission, including but not limited to risks described under the caption "Important Factors That May Affect Our Business, Our Results of Operation and Our Stock Price." The forward-looking statements contained in this news release represent judgments of the management of DC Brands International as of the date of this release. DC Brands International and its managers and agents undertake no obligation to publicly update any forward-looking statements.

Contact Information

  • Contact:
    Keith Howard