FT. LAUDERDALE, FL--(Marketwire - March 6, 2008) - Rapid Fitness, Inc. (PINKSHEETS: RPDI), a publicly traded company currently on the Over the Counter, announces today its company new year update and shareholder appreciation.
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As most of you are aware, Amore TV became Rapid Fitness. Amore TV's ISP Portal was created to keep children away from adult content by building an adult ISP Portal, which launched a few months ago for trial. We have so far a couple hundred members and have now received our merchant account and are ready to begin full subscriptions in the new entity. As stated in a prior release we have approved the spin-out of Amore TV and all documents have been completed for the attorneys. All shareholders will receive shares in the new entity. Since I took over the company we decided to continue with the ISP but cancel all production in the adult arena and focus on other mainstream productions and promote our kids network, which is what drove the board to decide to spin out Amore TV, which is being completed, release soon to be announced.
Rapid Fitness, Inc. is growing stronger and we are ready to re-open our second location in the Virgin Islands this month. Starting in April Rapid Fitness will begin franchise seminars, televised commercials for members this month. Our mainstream Rapid Fitness production division is in negotiations with a few companies to launch a music network for kids ages 4 to 14 similar to MTV.
Founder Anthony Mellone as CEO makes a company statement to all shareholders about the short position and statements made on board postings. Statements have been made and posted that we are not being shorted. Based on DTC, NOBO list and our shareholder list, our shareholders' positions have not changed in four months. Due to the amount of trading share and the calculations on the trading shares in the market, and transaction reports we estimate we are 10% to 15% short. We also at this time have not or approved any reverse due to the structure for the company. Rapid Fitness, Inc. is in negotiations with other facilities and companies.
Anthony Mellone, Chairman / CEO
Donna Yamin, Secretary / Dir.
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 Global Web TV, 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 and competition.
SOURCE: Rapid Fitness, Inc.