SOURCE: Sleep Holdings, Inc.

September 22, 2010 14:50 ET

Sleep Holdings, Inc. Announces an Adverse Material Event

DALLAS, TX--(Marketwire - September 22, 2010) -  Sleep Holdings, Inc. (PINKSHEETS: SLHJ), a Nevada Corporation, announces an event that has a material adverse effect on the company. Sleep Centers of America ("SCOA") has filed for Chapter 7 BANKRUPTCY in the Western District of Oklahoma. Sleep Holdings, Inc. sold its operating assets to SCOA in August 2008 in exchange for certain SCOA promises of future payments of which most remain unpaid. The company plans to seek advice from attorneys and consultants to determine the company's alternatives, but it is not likely that these SCOA obligations to Sleep Holdings, Inc. will be paid in the Chapter 7 Bankruptcy liquidation.

Sleep Holdings current issued and outstanding shares are 21,213,256. The company cannot guarantee that it will be able to maintain a listing now or in the future.

Forward-Looking Statements

This news 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 and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks and uncertainties.

Contact Information

  • Sleep Holdings
    (972) 591-3075