SOURCE: Kore Holdings Inc.

August 01, 2006 08:40 ET

Kore Rebounds From Death

SILVER SPRING, MD -- (MARKET WIRE) -- August 1, 2006 -- Kore Holdings Inc. (PINKSHEETS: KORH) A statement from the longtime CFO and New CEO of KORE Holdings, Robert F. Rood: "It's been more than four months since our founder and my longtime friend, Denis Costa Tseklenis, suddenly passed away. During that time much has happened while little to no news has been released. Although these times have been exceedingly difficult, our shareholders must be kept informed. After Mr. Tesklenis' untimely death, I began to inventory all aspects of KORE that were Mr. Tseklenis' responsibility. I am pleased to report that all aspects of KORE are well suited for the environment of today's market. More important is how Kore is poised for the months and years ahead. Our Energy Assets include the Coal and Wind Energy markets. These are two of the strongest energy related industries in this country today. Certainly with the world's current oil and energy related issues, these markets have an incredible future and with our current assets, we have a wealth of opportunity. In addition, our Mortgage Division is extremely strong and has begun originating loans in Niche Product Markets that are more profitable with fewer competitors. Our Mortgage Division's year to date numbers will be released soon We believe Kore's assets standing alone command a much stronger evaluation than our stock price reflects today. As soon as our Financial Statements are updated, and we make all required quarterly reports to the Securities and Exchange Commission ("SEC"), we will immediately make application to the National Association of Securities Dealers ("NASD") to be quoted on the NASD-OTC Electronic Bulletin Board. We currently see no impediment to the granting of our application by NASD. All of our 2006 required reports to the SEC will be posted on our soon to be revamped company web site (www.KoreHoldings.com) in the upcoming weeks. Kore's Officers and Directors are committed to return to our corporate policy of a steady flow of information to our current and potential shareholders. We have a greatly under valued company with a future matched by few, and the public will be advised of all new developments as they occur.

FORWARD-LOOKING STATEMENTS IN THIS PRESS RELEASE REGARDING KORE HOLDINGS INC ARE MADE PURSUANT TO THE SAFE HARBOR' PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. INVESTORS ARE CAUTIONED THAT SUCH FORWARD-LOOKING STATEMENTS INVOLVE RISKS AND UNCERTAINTIES AS FURTHER DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. AS A RESULT THERE CAN BE NO ASSURANCE THE COMPANY'S FUTURE RESULTS WILL NOT BE MATERIALLY DIFFERENT FROM THOSE PROJECTIONS. THE COMPANY HEREBY DISCLAIMS ANY OBLIGATION OR UNDERTAKING TO RELEASE PUBLICLY ANY UPDATED REVISIONS TO ANY SUCH STATEMENTS TO REFLECT ANY CHANGE IN THE COMPANY'S EXPECTATIONS OR ANY CHANGE IN EVENTS CONDITIONS OR CIRCUMSTANCES ON WHICH THIS STATEMENT IS BASED.

Contact Information


  • Contact:
    Kore Holdings, Inc.
    Rob Rood
    301-565-9050
    or
    NIMBUS Development
    631-828-2525
    (Investor Relations)