SOURCE: Three Sixty, Inc.

July 12, 2007 09:06 ET

Three Sixty, Inc. (TSXT) Announces Rockford-Montgomery Labs, Inc. Acquisition Terms

ATHENS, GA--(Marketwire - July 12, 2007) - Three Sixty, Inc. (PINKSHEETS: TSXT), an acquisition company, entered into an Agreement on May 22, 2007 with Rockford-Montgomery Labs, Inc. ("RML"), a brand management company focused on the marketing, sales, production, and distribution of 360 OTC® pharmaceutical products, to purchase RML for stock. The acquisition was finalized on June 29, 2007 for 26,688,155 shares of restricted common stock, with a minimum twelve-month restriction.

The majority of RML's shareholders come from the initial seed capital; services exchanged for stock; the acquisition of the PHARB Hangover Relief formula, know-how and customer base purchased from Pharbco Marketing Group, Inc. ("PMG"); and various other investors. Services exchanged for stock include, but are not limited to, graphic design services, product packaging engineering services, film and editing services, computer services, personal service agreements, employee incentives, website design, sales, marketing and various other services utilized to run the company. Michelle Shearer, CEO of RML, states, "It was great to issue stock for services in the infant stage of RML as it allowed the maximum use of its operating capital." The shareholders of RML (and the former PMG shareholders) will receive two shares of TSXT for every one share of RML. Information is being mailed this week to all shareholders of both RML and PMG informing them of the stock transfer process. The company believes the transfer of shares will be completed within the next 30 to 60 days and will not increase the current authorized shares as these shares were taken into consideration when Three Sixty, Inc. reduced its authorized shares to 50 Million Common Shares.

This will give the company a total share structure of 50,000,000 authorized common shares of which 5,300,000 common shares in the public float and approximately 28,701,000 restricted common shares for a minimum of one year. The company has no plans to increase the authorized shares.

The total cost to TSXT is 26,688,155 of restricted common shares. The transaction accomplished three goals: 1. to provide the shareholders of RML with a fair stock transaction, 2. TSXT acquired the entire business of RML; which will increase overall shareholder value, and 3. the current shareholders of TSXT will benefit from the business RML provides, which will also create shareholder value.

"Every stockholder, the current TSXT shareholders, RML shareholders and PMG shareholders should be excited about this company. We have a lot of potential and TSXT's number one goal is to create shareholder value," stated Ms. Shearer.

Being a wholly owned subsidiary of TSXT allows RML, who has already established relationships with retailers, vendors, customers and various other business relationships, to continue as normal and be a public entity. Michelle Shearer will continue as Chief Executive Officer of Rockford-Montgomery Labs, Inc. and Three Sixty, Inc. All employees will remain under Rockford-Montgomery Labs, Inc. with the exception of Todd Weller who will be President of both companies.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Contact Information

  • Contact:

    Three Sixty, Inc.
    Investor Relations
    Tel: 1-706-354-3725
    Fax: 1-800-927-1593