SOURCE: FBEC Worldwide, Inc.

FBEC Worldwide, Inc.

June 04, 2015 11:00 ET

FBEC Worldwide, Inc. Provides Update on SEC Filings

CHEYENNE, WY--(Marketwired - Jun 4, 2015) - FBEC Worldwide Inc., (OTC PINK: FBEC), a beverage company with intellectual property formulas and marketing capability for the production and distribution of proprietary beverages including H.E.M.P.™-branded energy shots and drinks, today provided the following update and statement from the Company's Chairman and CEO, Robert Sand.

"I want to take this opportunity to mention that in the past 30 days our Management Team has worked diligently in retiring unfavorable debt instruments, coming current with delinquent SEC filings inherited from the previous management, and at the same time, we are continuing to build out our existing product lines," began Robert Sand, CEO and Chairman of FBEC Worldwide, Inc. "Since my appointment on April 28th, I have been addressing a series of issues resulting from the neglect of the previous management at Frontier Beverages to properly govern its public entity. These corrective measures will address most of the shareholder concerns we have received lately. As mentioned in my letter to our shareholders, our goal remains to continually deliver value to our investors and keep our promises."

Sand continued, "Our auditor, MaloneBailey, LLP. is preparing to file the Company's FY2014 10-K and 1Q2015 10-Q on or before June 10th. Although our auditor previously assured us a June 2nd date, they encountered last minute questions and reviews which can occur to update past filings and especially due to the fact that they received the predecessor company's accounting in early May. Considering these delays, our auditors have done an excellent job in completing six months of auditing and reviews in a short period of time. MaloneBailey is a market-leading accounting firm delivering high-quality small and middle-market private and public company audit services. That said, I take responsibility and sincerely apologize for announcing a June 2nd date ahead of these challenges. The good news is that our Company will soon be current in our filings."

"In regards to our H.E.M.P.™-branded energy shots and beverages, we plan to update our shareholders and future customers with announcements next week regarding partnerships and production plans to roll-out our new beverages," Sand concluded.

The submission and acceptance of the Company's outstanding SEC forms of its predecessor company, Frontier Beverages, will allow FBEC Worldwide, Inc. the ability to reapply for its listing on OTC Markets' "QB". The Company remains intent on meeting its revised commitment date.

Safe Harbor for Forward-Looking Statements:
This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.

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