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8000 (OTC:EIGH) Stock, Option Chain

8000 INC COMMON

8000 Inc is engaged in manufacturing to supply the core company products.

News

EIGH

8000inc Investor Update 

Management

8000inc Provides Investor Update October 2010

8000 Inc

Eightco Holdings Inc

The Board of 8000inc (<a class="ticker" href="/stock/eigh#">EIGH</a>) states that the current litigious statements made publicly and, in its opinion, the current under valuation of the company is no longer acceptable and does not fit with the corporate objectives. The following actions have been instigated in the best interests of the shareholders and company. It is the Board's intention to progress to a higher reporting exchange with immediate effect and full execution of its plan.
<ul>
<li>8000inc has engaged two Independent Investment Banks to facilitate exchange progression and increase capital resource. Progression to a higher exchange is in the shareholders' and company's best interests. Progression will be through OTCQX and subsequently OTCQX premier. Currently, 8000inc satisfies all criteria other than share price. The Board believes that the business activity instigated will achieve the objectives of 10 cents minimally and $1 respectively. However, the mechanisms for merger with an established corporation through a management buyout have already been approved and established. </li>
<li>The company is acquiring and retiring common stock to achieve a public float of 20M shares. </li>
<li>A new management team will be installed. </li>
<li>Investors are advised that due to the absolute requirement to attain higher exchange status and to fund its acquisitions, the number of issued shares will increase. These shares will be held as collateral to raise the cash requirements for acquisitions and exchange progression, will be non-dilutable, and will be returned to treasury after the loan term and retired. The available public float will not increase from its current figure, but will be decreased to 20M shares. Any increase in non-dilutable shares issued to accommodate expansion will be matched by increased revenue, profit, improved balance sheet and asset value and increased shareholder equity for exchange progression. </li>
<li>8000inc has acquired a construction business to manage the development of the 35 acres site for the Desmond Haynes Sporting Centre of Excellence and its corporate HQ. The company has 13 years' operating experience with $1M annual revenue across the Caribbean, and will provide project management and construction ability. The new subsidiary will maintain the current 8000inc property portfolio reducing expenditure and costs currently paid to outside contractors. </li>
<li>The company will invest $1M USD into the Barbados cotton industry, acquiring the latest commercial equipment and factory location to supply its own Brand. </li>
<li>The company has not instructed its transfer agent to withhold any information. This is a unilateral decision by Signature Stock Transfer Inc. &nbsp;</li>
</ul>

8000inc (EIGH) state that it is aware of the unfounded and litigious statements being made publicly. It takes this matter extremely seriously and all incidents of this nature are passed on to our legal team. The true shareholders of 8000inc should be made aware that any and all unsubstantiated defamatory claims made by individuals with vested interests are being investigated and will be dealt with accordingly and publicly. The company would like to state that it did not profit from what was a corporate error and has corrected its internal processes to ensure there is no repeat.
Shareholders have reported that non-associated, non-affiliated third party entities have been recorded as paying the cancelled dividend for and on behalf of 8000inc into shareholder accounts. The payments exceeded the recorded short position in the company. It is therefore clear and unequivocal that there is a non reported short position in 8000inc which we believe could be detrimental to the company and shareholder value.
Due to these facts and current public activity, the Board has taken the following actions:
<ul>
<li>Initiated a reduction in the available shares in the public float to 20M by acquiring shares to retire. </li>
<li>Expansion of its financing model for acquisitions to extend its portfolio and to fund the Sporting Centre of Excellence and Corporate HQ. </li>
<li>Progression to a higher exchange. The actions taken will enable 8000inc to meet the criteria for automatic upward progression through business activity and valuation. The company will continue to follow its business plan as publicized. </li>
<li>The Board is currently assessing a proposed offer to privatize the Group and a merger with a target entity established on a higher exchange. The company will announce its decision accordingly.&nbsp;</li>
</ul>

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