SOURCE: Rapid Fitness, Inc.
July 30, 2008 11:10 ET
FT. LAUDERDALE, FL--(Marketwire - July 30, 2008) - Rapid Fitness, Inc. (PINKSHEETS: RPDI),
a publicly traded company currently on the Over the Counter exchange,
announced that as of last month, Rapid Fitness sold all its Media assets to
Global TV Network which included the Kid's Music Television Network
(www.kmtvn.com), IPTV Sports Network and Entertainment Network with its
Internet Equipment. Global TV Network has completed the definitive
agreements with UC Hub, Inc. regarding Global TV Network sale of its assets and
ISP (www.globalweb.tv) and online content providing portal. While the terms
of the sale will remain undisclosed, management stated that shareholders of
Rapid Fitness can anticipate a dividend, regulating to the sale, to be
announced in the near future.
"We are pleased to have closed the deal with UC Hub subsidiary Global TV
Network, Inc., and will be announcing many new developments for Rapid
Fitness and its shareholders," said Rapid Fitness CEO Anthony Mellone.
Safe Harbor Provision
This news release includes forward-looking statements, including with
respect to the future level of business for the parties. These statements
are necessarily subject to risk and uncertainty. Actual results could
differ materially from those projected in these forward-looking statements
as a result of certain risk factors that could cause results to differ
materially from estimated results. Management cautions that all statements
as to future results of operations are necessarily subject to risks,
uncertainties and events that may be beyond the control of Rapid Fitness,
Inc. and no assurance can be given that such results will be achieved.
Potential risks and uncertainties include, but are not limited to, the
ability to procure, properly price, retain and successfully complete
projects, the availability of technical personnel, changes in technology
Contact:Anthony Mellone954-772-2640Email Contact
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