|Rascals International Inc. Gets Clearance From the SEC to Get Listed On the OTC|
WEST ORANGE, N.J.--(BUSINESS WIRE)--Dec. 13, 2001--Rascals
International, Inc. (OTC:RASC) announced today that it has cleared
comments from the SEC on its Form 10-SB, a major step to obtain a
re-listing of its shares on the OTC Bulletin Board.
Commenting on this development, Ed Rodriguez, Chairman & CEO of
Rascals International, Inc. said, "We are pleased to announce this
first step to re-listing our shares on the OTC Bulletin Board. This is
an important step because it will assist in creating value and
liquidity for our shareholders. Re-listing of our shares on the OTC
Bulletin Board will provide access to an increased base of investors
and give us an opportunity, as well as the marketplace, to put a value
on one of the leading brand name comedy clubs in the United States.
This development fits well with our plan to establish Rascals Comedy
Clubs in major hotels throughout North America."
Rascals Comedy Clubs originated in October of 1983 when it opened
its first comedy club restaurant in West Orange, New Jersey. Rascals
has earned a reputation and industry recognition as a one of America's
premier comedy club chains.
Rascals International operates comedy clubs in Ocean Township and
West Orange, New Jersey and is opening new clubs in the Crowne Plaza
Hotel Downtown Phoenix, Arizona, the Sheraton Springfield at Monarch
Place, Springfield, MA and West Chester, PA. The Company also owns a
video library of nearly 400 hours of top name comedians. The Company
is headquartered in West Orange, New Jersey and located on the Web at
Certain statements in this press release, other than historical
information, may be considered forward looking statements, within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, and is subject to various risks,
uncertainties and assumptions. Should one or more of these risks or
uncertainties materialize, or should underling assumptions prove
incorrect, actual results may differ from those anticipated, estimated
or expected. Among the key factors that may have a direct bearing on
Rascals International Inc.'s operating results, performance or
financial conditions are its ability to implement its growth
strategies, national, regional and local economic conditions affecting
the comedy club restaurant industry, negative publicity, fluctuations
in quarterly results of operations, including seasonality, government
regulations, weather, commodity and labor costs.
CONTACT: Rascals International, Inc., West Orange
Ed Rodriguez, Phone: 973/243-8000 Fax: 973/243-8088
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: ENTERTAINMENT RESTAURANTS
SOURCE: Rascals International, Inc.
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