SOURCE: The PAWS Pet Company

The PAWS Pet Company

November 15, 2011 21:15 ET

The PAWS Pet Company Dismissed Complaint

SAN JOSE, CA--(Marketwire - Nov 15, 2011) - The PAWS Pet Company (OTCQB: PAWS) today announced that it has dismissed with prejudice the previously reported complaint filed in the Superior Court of the State of California, County of Santa Clara against Evan Bines and the Alpine Capital Partners, Inc. and have provided Mr. Bines and Alpine a full written release relating the subject matter of such litigation.

Dan Wiesel, Chairman, Chief Executive Officer, and a director of PAWS, commented, "Upon further review of the facts, PAWS determined to discontinue the litigation as the allegations made in the litigation were not supportable. We have released Mr. Bines and Alpine and look forward to putting this matter behind us."

About Pet Airways, Inc.

Pet Airways is the only airline specifically designed for the safe and comfortable transportation of pets. Pet Airways' pawsengers™ travel in the specially equipped main cabin of its planes -- where pets are continuously monitored by an In-Flight Pet Attendant and the climate is controlled for maximum pet comfort. With Pet Airways, pet parents can be assured their pets will be treated with tender, loving care by pet professionals throughout the journey. The airline launched flight operations in 2009 and currently serves coast-to-coast destinations across the United States.

Forward-Looking Statements

This press release includes statements that may constitute "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts, including, without limitation, statements regarding future financial position, business strategy, budgets, projected sales, projected costs, and management objectives, are forward-looking statements. Terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," "illustrates," or "believes" or the negative thereof, any variation thereon or similar terminology are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially and adversely from the results proposed in such statements. Important factors that could cause actual results to differ from our expectations include, but are not limited to: the costs and availability of financing; our ability to maintain adequate liquidity; our ability to execute our business plan; our ability to control costs; our ability to attract and retain customers; transportation demand; general economic conditions; costs of aviation fuel; competitive pricing pressures; governmental regulation; weather conditions; and statements of assumption underlying any of the foregoing, as well as other factors set forth under the caption "Risk Factors" in the Form 10K filed with the Securities and Exchange Commission ("SEC") on March 27, 2011 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by the foregoing cautionary statements. We assume no duty to update or revise our forward-looking statements based on changes in our expectations or events after the date hereof.

Contact Information

  • Company Contact:
    The PAWS Pet Company
    Investor Relations
    408 248 6000 ext. 198
    Email Contact