SAN ANTONIO, Oct. 29, 2007 (PRIME NEWSWIRE) -- Sweet Success Enterprises (OTCBB:SWTS), the maker of GlucaSafe(tm) which supports healthy glucose levels and a line of innovative and delicious healthy-lifestyle beverages, announced today that the remaining 2.5 million shares of its common stock, which was recently converted from outstanding debt by investors in a financing closed August of 2006, has been absorbed by the market.
Current financial records indicate that less than 200,000 shares remain from the initial debt conversions, for the remainder of this year. This conversion lowered the outstanding debt from the original $3.3 million in notes to less than $2 million. "We are very happy to continue to reduce this debt," said William Gallagher, CEO of Sweet Success.
Recently the company began selling GlucaSafe(tm) in 140 pharmacy and drug departments throughout the northeast north and northwestern United States. The current purchases by the customers of this retail chain will provide a healthy solution for its diabetic type customers and further penetrate the diabetic market which according to the Center for Disease Control approaches 70 million people including the pre-diabetic sector. "GlucaSafe(tm) is currently selling successfully in this chain without the full execution of a planned marketing program. We anticipate expanding the number of locations selling GlucaSafe(tm) in the near future," said William Gallagher, CEO of Sweet Success.
Product statements have not been evaluated by the FDA. The products are not intended to diagnose, treat, cure or prevent disease.
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"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements which address actual results could differ materially from those expressed or implied in forward-looking statements. These statements are made on the basis of management's views and assumptions. As a result, there can be no assurance that management's expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Management cautions that the ability to attract clients and generate business may be affected by a decline in the Company's financial ratings, the competitive environment, the Company's ability to raise sufficient capital to meet the collateral requirements associated with its current business and to fund the Company's continuing operations and changes in market conditions.