Big Three Restaurants, Inc. Announces Name Change, Change of Business and Reverse Stock Split
May 02 2014 - 9:30AM
Marketwired
Big Three Restaurants, Inc. Announces Name Change, Change of
Business and Reverse Stock Split
ORLANDO, FL--(Marketwired - May 2, 2014) - Big Three
Restaurants, Inc. (OTC Pink: BTHR) (PINKSHEETS: BTHR) announced
today that it has changed its name to Sports Venues of Florida,
Inc. The changes to the business have been filed on Form 8-K with
the Securities and Exchange Commission and application to the
Financial Industry Regulatory Authority (FINRA) has been submitted
which should be reflected on the quotation systems on May 15, 2014.
The stock symbol will not change at this time. We also amended our
Articles of Incorporation to authorized 10,000,000 shares of
preferred stock, the series, preferences, limitations and relative
rights of which may be determined from time to time by the Board of
Directors and to effect a share combination (reverse stock split)
with the result that our 7,500,000,000 outstanding shares of common
stock are reduced to 1,500,000 shares of common stock, the
effective date of such combination for purposes of the public
securities market subject to a market announcement by FINRA,
which we also expect to be May 15, 2014.
The Company will be retaining Turf Solutions Group, Inc.
(http://www.turfsolutionsgroup.com/) as its designer and lead
project manager to build and develop a 100+- acre sports complex in
the Tampa Bay area. The sports complex is being planned to
include eight boys' baseball fields, eight girls' softball fields,
one multi-purpose synthetic turf field, six soccer fields, and one
main stadium field for baseball/softball with seating for 3,500.
The main stadium will have a turf surface that can quickly be used
for baseball or converted for soccer. The main stadium will have an
owner's box, two VIP boxes, a media box, and TV camera outposts
included. The project will have a themed national chain restaurant,
a national chain pro shop/sporting goods store. To attract
tournament play with players from around the United States the
property is planned to have multi-purpose housing units for
twenty-four teams with dining area for teams and a swimming pool
for team use. A splash zone and play ground are planned to great
visitors inside the main gate, followed by a fitness trail to guide
visitors all around the park with distance markers every 1/8th mile
and various stations for workouts. W are also planning
indoor/outdoor batting cages, an indoor fitness and weight training
center, a fully staffed first aid building and restrooms
strategically placed as required by local code. Retail food and
drink kiosks will be scattered around the park. We also are
planning a multi-purpose building for parent meetings, coaches
meetings etc. When not in use by participating teams, this
building will be available for rental by non-park participants.
Finally, we are planning to include equipment and maintenance
buildings, executive office, ticket booths and parking.
The Company's preliminary estimates the entire project is in the
$40 million range. The Company plans to use a combination of debt
and equity to complete the project.
"I could not be more energized over the new direction of the
company. Youth sports and sports venues is a multi-billion dollar
emerging segment of the overall sports market. After months of
planning and exploring various avenues of financial support, I
believe we have hit a home run with both debt and equity players. I
am convinced we will be able to arrange the combination of debt and
equity needed to implement our plan," said John V. Whitman Jr., CEO
and Chairman.
ABOUT THE COMPANY
The Company is a developmental stage enterprise. Our board of
directors has approved a change in our business to the ownership,
development and operation of venues for youth and adult team
sports, sponsoring such teams and providing training programs for
such team sports, as well as all activities related thereto.
SAFE HARBOR AND INFORMATIONAL STATEMENT
This press release may contain forward-looking information
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended (the Exchange Act), including all statements that
are not statements of historical fact, regarding the intent, belief
or current expectations of the Company and its management with
respect to, among other things: (i) the Company's financing plans;
(ii) trends affecting the Company's financial condition or results
of operations; (iii) the Company's growth strategy and operating
strategy; and (iv) the declaration and payment of dividends. The
words "may," "would," "will," "expect," "estimate," "anticipate,"
"believe," "intend" and similar expressions and variations thereof
are intended to identify forward-looking statements. Investors
are cautioned that any such forward-looking statements are not
guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control, and that actual results may differ materially from those
projected in the forward-looking statements as a result of various
factors including the risk disclosed in the Company's reports filed
with the SEC. The Company claims the safe harbor provided by
Section 21E(c) of the Exchange Act for all forward-looking
statements.
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Restaurants
For more information contact - John V. Whitman Jr. Chief
Executive Officer Phone: 516-375-6649 E-mail:
johnwhit9756@yahoo.com