Interactive Motorsports' Subsidiary Files for Reorganization
March 02 2010 - 9:47AM
Marketwired
Interactive Motorsports and Entertainment Corporation (PINKSHEETS:
IMTS) announced today that its wholly owned and primary operating
company, Perfect Line, Inc., has filed for Chapter 11 bankruptcy
protection. The company intends to present a plan of reorganization
in the months ahead.
Forward-looking statements Except for
historical information contained herein, the statements in this
Press Release are forward-looking statements that are made pursuant
to the Safe Harbor Provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements, and the business
prospects of Interactive Motorsports and Entertainment Corporation,
are subject to a number of risks and uncertainties that may cause
the Company's actual results in future periods to differ materially
from the forward-looking statements. These risks and uncertainties
include, among other things, the outlook of the economy and the
effect on future revenues, access to and cost of capital,
uncertainty of new product development, competition, and dependence
on updated technology and licenses and leases.
Interactive Motorsports & Entertainment Corp. (317) 616
1855
Interactive Motorsports ... (GM) (USOTC:IMTS)
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