In response to numerous inquiries by shareholders, Prime Rate Investors, Inc. (Pink Sheets: PRRM) issued this brief statement expounding upon past releases regarding the retirement and cancellation of three billion shares of the company’s common stock held by Prime Rate Investors President Dan Burgess: no compensation was given to Mr. Burgess in relation to the retired shares.
STOWE, VT. Feb 13, 2006. In response to numerous inquiries by shareholders, Prime Rate Investors, Inc. (Pink Sheets: PRRM) issued this brief statement expounding upon past releases regarding the retirement and cancellation of three billion shares of the company’s common stock held by Prime Rate Investors President Dan Burgess: no compensation was given to Mr. Burgess in relation to the retired shares. Neither did the company incur any costs associated with the retirement and cancellation of the shares. The decision was Mr. Burgess’ voluntary act to decrease the issued and outstanding stock of the Company.
PRIME RATE INVESTORS (Pink Sheets:PRRM) is a multi-media holding company with interests in outdoor sports, retail, e-tail, print, web, television and film. For more information on the company or its outdoor sports and media subsidiaries, visit www.primerateinvestors.com.
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Prime Rate Investors, Inc.
CONTACT: Prime Rate Investors, Inc.
Dan Burgess, 802-253-0199
dan@highanglemedia.com
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