Ultimate Franchise Systems Stops Trading on Berlin-Bremen Exchange
March 30 2005 - 2:39PM
PR Newswire (US)
Ultimate Franchise Systems Stops Trading on Berlin-Bremen Exchange
HEATHROW, Fla., March 30 /PRNewswire-FirstCall/ -- Ultimate
Franchise Systems Inc. (OTC:UFSY) (BULLETIN BOARD: UFSY) today
announced that it has requested and received notification that the
Berlin-Bremen Stock Exchange has halted trading in UFSY and has
agreed to de-list UFSY from its exchange. The action was recently
confirmed in writing to UFSY. A statement issued by Christopher
Swartz, CEO of Ultimate Franchise systems, said: "Recently, the
UFSY Board of Directors became aware that the company's common
stock had been listed on the Berlin-Bremen Stock Exchange without
consultation or authorization by any person or organization
affiliated with this company. UFSY never applied for a listing on
this exchange, was never notified that the listing had occurred,
and was totally shocked by the action of the Berlin-Breman Stock
Exchange to list and trade Ultimate Franchise Systems, Inc. stock
without authorization. UFSY immediately took the appropriate legal
steps to have the stock de-listed from the exchange. UFSY will
continue to monitor all foreign exchanges and will vigorously
pursue all legal means to protect the public reputation and share
value of Ultimate Franchise Systems, Inc." Numerous international
financial papers have reported that the Berlin- Bremen Stock
Exchange is being used to get around recent U.S. laws tightening
guidelines on short selling, a form of share price manipulation.
Recently the SEC adopted a new Regulation SHO, under the Securities
Exchange Act of 1934, which in part requires short sellers in all
equity securities to locate securities to borrow before selling.
Ultimate Franchise Systems Inc. (OTC:UFSY) (BULLETIN BOARD: UFSY)
currently has investments in approximately 603 franchised
restaurants in 30 states throughout the United States. These brands
include Gator's Dockside(R) Restaurants, Jreck Subs, Inc., Central
Park Hamburgers, Li'l Dino's Deli and Grille, Sobik's Subs (OTC
Pink Sheets: QRVI), Famous Uncle Al's Hot Dogs (OTC Pink Sheets:
FFDG), Flamers Hamburgers, Westshore Pizza, Obee's (OTC Pink
Sheets: OBFC), Mountain Mike's Pizza, New York Burrito, Juicy
Lucy's Hamburgers, Beverly Hills Weight Loss (OTC:BHWW) (BULLETIN
BOARD: BHWW) and FransAction, Inc. (OTC Pink Sheets: FCTN). This
press release may contain forward-looking information within the
meaning of Section 27A of the Securities Act of 1933 or Section 21E
of the Securities and Exchange Act of 1934 and is subject to the
safe harbor created by these sections. Ultimate Franchise Systems,
Inc., Obee's Franchise Systems, Inc. and Quality Restaurant
Ventures, Inc. assume no obligation to update the information
contained in this press release. Certain information included
herein may contain statements that are forward-looking, such as
statements relating to plans for future expansion and other
business development activities as well as operating costs, capital
spending, financial sources and the effects of competition. Such
forward-looking information is subject to changes and variations
which are not reasonably predictable and which could significantly
affect future results. Accordingly, such results may differ from
those expressed in any forward-looking statements made by or on
behalf of the Companies. CONTACT: Christopher Swartz, Ultimate
Franchise Systems Inc., 407-333-8587 DATASOURCE: Ultimate Franchise
Systems, Inc. CONTACT: Christopher Swartz, Ultimate Franchise
Systems Inc., +1-407-333-8587 Web site: http://www.ufsi.net/
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