FarSuperior Management, LLC the prior owner of FarSuperior.com and its related business model, files request with the US Securities and Exchange Commission to correct erroneous 8K and 10QSB filings made by Subjex Corporation, (OTCBB:SBJX), a publicly traded company and purchaser of FarSuperior.com
Scottsdale, AZ -- (ReleaseWire) -- 03/29/2007 --FarSuperior Management, LLC announced today that it is requesting a review by the US Securities and Exchange Commission “SEC” of the public filings and required notice to shareholders with respect to the acquisition of FarSuperior’s business in January of 2006 by Subjex Corporation (OTCBB:SBJX), as well as various related transactions and events thereafter. This measure was taken by FarSuperior Management only after repeated requests to Subjex for full and/or corrective disclosure by Subjex Corporation of the details surrounding the acquisition of FarSuperior.com and its related business model.
As reported in Subjex’s 8-K filing on January 18th 2006, the companies completed all obligations for the close of escrow. Subsequently, Subjex Corporation delivered to FarSuperior Management, as part of its obligations to close escrow, 3,030,303 warrant shares for common stock in Subjex. The delivery of these warrant shares was incorrectly reported in the 8-K filing as “options for warrants” with no additional terms reflected within the filing.
In its May 22nd, 2006 10QSB public filing Subjex reported that it had achieved a noticeable increase in its revenue for the quarter which was chiefly linked to the acquisition of FarSuperior. Further, that the warrant certificate delivered to FarSuperior Management was in the amount of 100,000 warrant shares. Once again this reporting was in error.
In consideration of the fact that FarSuperior Management has already received 3,030,303 warrant shares, not the 100,000 reported by Subjex, and has noticed Subjex of its claim to the remaining 12 million warrant shares due under contract for ongoing and future benefits being received by Subjex as they occur, FarSuperior Management has been advised that this represents a material event requiring notice to the public and shareholders of Subjex Corporation.
“Our board of directors is pleased to see the progress Subjex has made over the past year with its FMS program. We certainly wish to see continued success and improvement, as well as increased shareholder value, considering our respective stock and warrant ownership interests.” said Howard Walsh, FarSuperior’s President, “As represented by Subjex Corporation in its latest 10QSB, Subjex no longer wishes to pursue the FarSuperior Expert business model, trade names and domains provided by FarSuperior Management and therefore we are working through a mediation process with Subjex on the remaining terms of our contract. We hope to complete this process within the next 30 to 60 days, so both companies can move forward with their respective business opportunities.”
Based in Scottsdale, Arizona, USA, FarSuperior Management, LLC is an Arizona limited liability company whose business includes sales and marketing programs throughout the USA and management services. For additional details on the company you may contact FarSuperior Management’s President, Howard Walsh at 800-430-6322 Ext 105
Based in Minneapolis, Minnesota, USA, Subjex Corporation provides innovative Artificial Intelligence Development for the Capital Markets and its investors. For more information on Subjex Corporation you can visit them on the web at www.subjex.com
This news release may contain "forward-looking statements" within the meaning of Section 27a of the Securities Acts of 1933 and Section 21E of the Securities Exchange Act of 1934. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct.
For more information contact:
FarSuperior Management, LLC
800-430-6322 Ext 105