USA: Involuntary Bankruptcy Petition Filed Against The Children's Beverage Group, Inc. is Dismissed
The involuntary bankruptcy petition that had been filed against The Children's Beverage Group, Inc. (OTC/BB: TCBG) in U.S. Bankruptcy Court Northern District of Illinois has been dismissed.Jon Darmstadter President and CEO of The Children's Beverage Group, Inc. (OTC/BB: TCBG) states: "We believe the involuntary petition was improperly filed and are happy to report the petition has been dismissed. We may now move forward with our Rochester project and close on the purchase of the building. We may then begin to build the most modern and state of the art flexible packaging facility in the world. This will allow us to fast track our ability to begin producing top quality products for our customers with greater efficiencies. It will also allow us to begin to satisfy the huge demand to deliver a flexible package with our unique, patented `rip it sip it'(TM) no spill, straw in the pouch product.The Children's Beverage Group, Inc. is a unique beverage company directed at the billion dollar plus children's beverage market. The company's mission and goal has been to create cutting edge products using the latest in packaging technology. It features a patented no. 5,941,642 09/005,627, "Self-Contained Fluid Dispensing System" known in the trade as the `rip it sip it'(TM) system. The company's products have been marketed by national retailers like Wal-Mart(R)(NYSE: WMT). The company has been featured on the nationally broadcast television program "Emerging Public Companies.... the Story Behind the Symbol".The statements contained in this release which are not historical facts contain forward-looking information with respect to plans, projections or future performance of the company: the occurrence of which involves certain risks and uncertainties that could cause the company's actual results to differ materially from expected results. Such risks include the timing of the implementation and the scope and success of the program described here.
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