SOURCE: FBEC Worldwide, Inc.
HENDERSON, NV via MacReportMedia.com, 6/30/2014 8:30:00 AM
Frontier Beverage Company Continues With Turnaround Plan
Frontier Beverage Company Inc. (OTC Pink: FBEC) (PINKSHEETS: FBEC) -- Frontier Beverage Company announces the sale of their controlling interests in 22 Social Club Productions Inc. and Dance Broadcast Systems Inc. and the signing of a retail marketing contract with Allied Recycling Corp.
Frontier Beverage Company continues with its turnaround plan as it has shed its entertainment holdings and signs a deal with Allied Recycling Corp to market, at retail, a cutting edge chemical formula to speed the separation of oil and its solids from water in existing oil tanks and from producing wells and their storage facilities. The formula and its processes are currently being marketed in the Southwest and Midwest by the developer.
Allied Recycling has the exclusive wholesale marketing rights to the product throughout the United States of America and as agreed that distributorship, retail or end user contracts or agreements submitted for delivery of products will be delivered at wholesale through ARC and onto FBEC.
"FBEC did its best efforts in attempting to secure funding for its entertainment/concert holding but was unsuccessful in doing so. So when this opportunity presented itself and as my goal all along has been to reduce the debt that we inherited in an orderly fashion, drive revenues and create profits I agreed a change was needed. So the decision was made to move forward with this marketing agreement. The Company anticipates this to be a huge deal and we are extremely excited about the possibilities," stated William Coogan, CEO/COO of Frontier Beverage.
The price of the marketing agreement is 5,000 Series C Preferred shares with a stated value of $500,000. Both 22 Social Club Productions and Dance Broadcast Systems were sold as part of a debt settlement. The company plans a name change and the addition of new management and board members in the coming months.
About Frontier Beverage Company -- FBEC is a diversified holding company that seeks new technologies and opportunities in the Energy and Alterative Energy Industries.
Safe Harbor: This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
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SOURCE: Frontier Beverage Company, Inc.
Keywords and Content Types
'CONTRACTS' 'ENERGY' 'LICENSING AGREEMENTS' 'OIL'
'Business Contracts' 'Company Announcement' 'Licensing Agreements' 'Mergers and Aquisitions' 'Partnerships'