EWRC claimed someone was willing to buy them out for over $125 million, 1900% higher than the current market cap of the company. A market cap that almost assuredly will decline as it has continued to do so the last three years.
Today the company declined giving shareholders a 1900% gain on their investment. Why would any company, any CEO, any person with half a brain for that matter, decline an offer that gave their shareholders a 1900% return! Is that not their job?! To provide shareholder value! If this was not a scam, money pit of a company as we've been saying all along, don't you think this offer would have been accepted? Of course not, because the offer, like this scam of a company, is not valid. It was only there to dupe people into buying stock. Since the initial pop on this lie of an offer the stock has done nothing but fall, today it closed at $.0006.
You get an offer for all shares at $.019 and today the stock closes at $.0006. As I have been urging all along, someone please tell me why you are buying this stock. If you believe the hype, as I imagine some do, then how do you explain today's press release. If the initial buyout offer did not raise a red flag as being absurd, way overboard, and completely unbelievable, then today's rejection of that same buyout offer is a red flag of an exponentially larger size.
Stand back and think to yourself why anyone would decline an offer that would give so many a gain so large. It, like the press releases of EWRC, defy logic. If you had $125 million to buy a company I doubt you would use it to buy a $.001 stock. And if you just happened to like the stock, why the heck offer $.019 a share when you can buy all the shares you want at $.001 and $.0006 today? It does not make sense.
Thank you EWRC for giving such a great press release today. Please answer us this. In your press release today you stated:
We believe the offer was very real and attractive; however it does not adequately address the needs of the company's shareholders.
If a 1900% return does not fit the needs of your shareholders THAN WHAT DOES!?!?!?!
The pennystockguru's have been calling out EWRC as a stock to avoid like the plague. Today's Press Release more than validated our concerns. Let us hope none of you have been burned by this stock. Next up for EWRC and its "shareholders" is the drop back down to $.0001 and the unavoidable reverse split that Mr. Morales will undoubtedly tout, as he did before the 1 for 12,000 reverse split, as being in the shareholders best interest. WE all know how that's turned out so far... A $20 investment turned into $.0006. Nice work, looks like turning shareholder's into bagholders is the only interest of EWRC "management".
LOS ANGELES, CA, Sep 30, 2009 (MARKETWIRE via COMTEX) -- eWorld Companies, Inc. (PINKSHEETS: EWRC) has rejected an offer from Level Vision Electronics, Ltd. to purchase all outstanding shares of eWorld stock for 1.9 cents per share. The offer had been tentatively accepted by eWorld's Board of Directors pending completion of due diligence and counsel approval. However, the offer as it currently stands failed to garner the approval of either the company's counsel or its preferred shareholders and has been rejected. The company has also scheduled a shareholder conference call with Chairman and CEO Henning Morales and its Securities Counsel for Friday, October 2 at 9:30 AM PDT. Call-in information will be posted on eWorld's website and on the Boomerang Media Station(TM). Mr. Morales commented, "This decision is by no means a negative comment on Level Vision Electronics. We believe the offer was very real and attractive; however it does not adequately address the needs of the company's shareholders. This is not the first time we have been approached about a buyout offer and we don't expect it to be the last. eWorld is not actively seeking a buyout; however, the company will always consider reasonable offers, whether from Level Vision or from other suitors."
ABOUT EWORLD COMPANIES, INC.
eWorld Companies, Inc. markets and distributes cutting edge Internet technologies including its patent-pending Boomerang Media Station(TM), a free Internet application that features exclusive and third-party movies, music videos, webcasts and other streaming video content delivered via its unique state-of-the-art broadcast quality video player. eWorld has recently released Boomerang v4.0; begun marketing a Private Label Boomerang for profit and non-profit organizations; launched its eWorldMix Social Network and started accepting submissions for the 2nd annual eWorld Music Awards, all part of a coordinated plan for reaching initial goals of one to two million Boomerang downloads and $1,000,000+ monthly gross profits by early 2010. For more information visit www.eworldcompanies.com.
Safe Harbor Statement: This release contains forward-looking statements with respect to the results of operations and business of eWorld Companies, Inc., which involves risks and uncertainties. The Company's actual results could materially differ from those discussed. eWorld intends that statements about the Company's future expectations, including revenues, earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
Contact: Henning Morales, CEO (310) 471-7674
LOS ANGELES, CA, Sep 30, 2009 (MARKETWIRE via COMTEX) -- eWorld Companies, Inc. (PINKSHEETS: EWRC) has rejected an offer from Level Vision Electronics, Ltd. to purchase all outstanding shares of eWorld stock for 1.9 cents per share. The offer had been tentatively accepted by eWorld's Board of Directors pending completion of due diligence and counsel approval. However, the offer as it currently stands failed to garner the approval of either the company's counsel or its preferred shareholders and has been rejected. The company has also scheduled a shareholder conference call with Chairman and CEO Henning Morales and its Securities Counsel for Friday, October 2 at 9:30 AM PDT. Call-in information will be posted on eWorld's website and on the Boomerang Media Station(TM). Mr. Morales commented, "This decision is by no means a negative comment on Level Vision Electronics. We believe the offer was very real and attractive; however it does not adequately address the needs of the company's shareholders. This is not the first time we have been approached about a buyout offer and we don't expect it to be the last. eWorld is not actively seeking a buyout; however, the company will always consider reasonable offers, whether from Level Vision or from other suitors."
ABOUT EWORLD COMPANIES, INC.
eWorld Companies, Inc. markets and distributes cutting edge Internet technologies including its patent-pending Boomerang Media Station(TM), a free Internet application that features exclusive and third-party movies, music videos, webcasts and other streaming video content delivered via its unique state-of-the-art broadcast quality video player. eWorld has recently released Boomerang v4.0; begun marketing a Private Label Boomerang for profit and non-profit organizations; launched its eWorldMix Social Network and started accepting submissions for the 2nd annual eWorld Music Awards, all part of a coordinated plan for reaching initial goals of one to two million Boomerang downloads and $1,000,000+ monthly gross profits by early 2010. For more information visit www.eworldcompanies.com.
Safe Harbor Statement: This release contains forward-looking statements with respect to the results of operations and business of eWorld Companies, Inc., which involves risks and uncertainties. The Company's actual results could materially differ from those discussed. eWorld intends that statements about the Company's future expectations, including revenues, earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
Contact: Henning Morales, CEO (310) 471-7674
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