SOURCE: Superwire, Inc.

June 13, 2008 13:07 ET

Superwire, Inc. Files Suit

SALT LAKE CITY, UT--(Marketwire - June 13, 2008) - Superwire, Inc. ("the Company") (PINKSHEETS: SUPI) announced today that due to various misrepresentations by some individuals, it has become necessary to make a statement regarding the duly appointed members of the Company's corporate management. James Truher, one of the founders of the Company, and J. Michael Heil, are currently the only two directors properly appointed to the Board. Additionally, Mr. Heil serves as the Company's CEO and President. Though there are currently no other directors, the Company is exploring making some changes to corporate management which may include an additional director to fill an existing vacancy.

Accordingly, the Company has filed suit in Federal Court for the District of Utah against various individuals who previously claimed authority to act on behalf of the Company. The suit seeks damages for, among other things, forging corporate documents and diversion and embezzlement of funds belonging to the Company. In addressing the recent commencement of litigation, Mr. Heil stated, "Sadly, litigation was necessary to prevent some individuals from further confusing the investing public and from interfering with the Company's business. The conduct of these individuals was so extreme that the Company really had no choice but to file. Opportunities to make things right were extended, but not respected. Absent a settlement, the Federal Court will decide the amount of damages the Company is entitled to. My goal is to prevent that process from hindering the Company's progress in moving forward with its business objectives."

James Truher, founder of the Company, stated, "We live in an age when misconduct affecting a public company must be met with substantial and meaningful efforts to capture the truth and resolve the identified issues. Those who try to inhibit the process of obtaining answers will not be able to hide from the light that will be cast on the revealed subjects of material importance to the company and its shareholders. Our recent filing of litigation is directed at seeking answers, preventing unauthorized interference in corporate business, and obtaining financial relief from the wrongful conduct of others. That being said, it is now time to move on with developing the corporate opportunities still available to us because of the diligent work of our CEO Mike Heil."

About Superwire, Inc.

Superwire, Inc. is a multi-media management group offering interactive television, telephone, broadband services and Cable TV Ad insertion to high income Retirement, Educational and Hotel/Recreational communities throughout the United States. Superwire's ad insertion capabilities give national, regional and local advertisers a low cost, high impact avenue to target high expendable income customers and easily measure their advertising ROI.

For additional information, please visit: www.Superwire.com

Statements contained in this press release that are not statements of historical fact are "forward-looking statements" as that term is defined under federal securities laws, including, without limitation, all statements concerning expectations, beliefs, goals, intention or strategies for the future of Superwire Inc. Forward-looking statements may be identified by words such as "goals," "plans," "believes," "will," "expects" and other words of similar meaning used in conjunction with, among other things, discussions of future operations, financial performance, product development and new ventures. Many factors could cause actual events or results to differ materially from those expressed in any forward-looking statement. Investors are cautioned not to place any undue reliance on any forward-looking statements.

Contact Information

  • Contact:
    Ed Hart
    (866)547-8737