NEW YORK, June 2, 2011 /PRNewswire/ -- Real American
Brands, Inc. (RLAB.PK) today announced a change of its business
plan and operations, and a 20 to 1 reverse stock split.
According to CEO, Doug Newton,
"These moves are being made in order to provide the company with
more diversity, increased growth potential and to bring greater
overall value to our shareholders." Further details of the
reverse stock split will be announced soon.
As part of the company's new expanded direction and initiatives,
Newton said he will be turning over his CEO and director duties to
Richard E. Goulding, M.D. effective
immediately.
Dr. Goulding has been an independent investor, businessman and
physician from 1984 to the present and is currently Medical
Director for Physhield Insurance Exchange and a Member of the
Physhield Subscribers Advisory Committee and a Director of
Phyhealth Corporation and of Phyhealth
Underwriters.
Dr. Goulding, who was Chief of Otolaryngology at Holmes Regional
Medical Center, Melbourne,
Florida, holds a Bachelor of Science degree from the
University of Florida and a Doctor of
Medicine degree from Loyola
University.
Newton also announced today that Howard
Salamon will assume the position of Vice President,
Treasurer and Corporate Secretary for the company effective
June 2, 2011. For the last 10
years, Mr. Salamon has worked with private and public companies in
investor relations and company accountability. He holds a
General Securities Representative Series 7 License, and will be
joining Dr. Goulding as a director of the company.
Mr. Newton said he is very excited to bring these two
individuals to the management of RLAB. Details of the
company's new and expanded business plan will be announced
soon.
Forward-Looking Statements:
Statements about RLAB's future expectations, including future
revenues and earnings, and all other statements in this news
release other than historical facts are "forward-looking
statements." Since these statements involve risks and uncertainties
and are subject to change at any time, the company's actual results
may differ materially from the company's plans if its assumptions
prove to be incorrect or for a variety of other reasons.
Contact:
Howard Salamon, VP and Director
Real American Brands, Inc.
516-371-9440
salamon2@verizon.net
SOURCE Real American Brands, Inc.
