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Millennium Electronics, Inc. Completes Acquisition of Operating Assets
SALT LAKE CITY, Feb. 13 /PRNewswire-FirstCall/ -- Millennium Electronics, Inc.
announced today that it has acquired the business and assets of Speaking Roses,
LLC (BULLETIN BOARD: SRII) , an Idaho limited liability company that held
proprietary technology for embossing flowers and floral products. The
acquisition was part of a series of transactions we completed on February 6,
2004 and which included a change of our state oforganization from Nevada to
Utah, effected a 16.859-for-1 reverse split of our outstanding shares (resulting
in approximately 1,117,207 outstanding shares), increased our authorized capital
to 30 million preferred shares and 70 million common shares and changed our name
from "Millennium Electronics, Inc." to "Speaking Roses International, Inc."
Concurrently, with those transactions, we acquired all of the business and
assets of Speaking Roses, LLC in exchange for 20,551,264 post-split common
shares and issued an additional 1,237,500 post- split common shares in a private
placement. The private placement and the acquisition of the assets were each
conditioned on the other transaction taking place, as well as the preliminary
change of domicile transactions.
In connection with closing of the transaction, the former management of Speaking
Roses, LLC became our operating officers and directors. These officers and
directors include:
Blaine Harris, who will act as our president, chief executive officer and
chairman of our board of directors. Mr. Harris previously acted as the manager
and chief executive officer of Speaking Roses, LLC and was the chief executive
officer of TFL, a personal money management, education and training company.
Rene Rodriguez, who will act as our chief operating officer and as a director.
Mr. Rodriguez was one of the founders of Speaking Roses, LLC, and has acted as
its chief operating officer since 2001. Between 1999 and 2001, Mr. Rodriguez
developed the floral embossing technology that we acquired in the transactions.
Kenneth D. Redding, who will act as our executive vice president, a position
that he also held with Speaking Roses, LLC. Before joining Speaking Roses, LLC,
Mr. Redding was the president of TFL.
Roland N. Walker, who will act as a director. Mr. Walker is one of the founders
of Speaking Roses, LLC and currently serves in a variety of a management and
executive positions, primarily relating to his agricultural and real estate
development operations in the State of Idaho.
Terrill A. Lassetter, who will act a director. Mr. Lassetter has been a
business consultant since 1987 and between 1953 and 1987 was employed by IBM,
where he held various engineering and management positions.
Robert E. Warfield, who will act as a director. Between 1975 and 2003, Mr.
Warfield was the regional manager for Moore, Warfield and Glick Realtors. Mr.
Warfield is also a certified residential broker with over 35 years of experience
in sales, management and realestate activities.
Our shareholders and directors approved the change of domicile transaction,
private placement and asset acquisition in December 2003.
Prior to the consummation of the transactions, we conducted no active business
operations. Usingthe assets and operations we acquired from Speaking Roses,
LLC, we intend to license our embossing technology to large wholesale flower
concerns, chain stores, and retail florists. According to Mr. Harris, our new
president, "We are very excited aboutour new direction. We are looking forward
to bringing a new and unique concept to the multi- billion dollar floral
industry."
Cautionary statement for purposes of the "Safe Harbor" provisions of the Private
Securities Litigation Reform Act of 1995:
Statements made in this press release, which are not historical in nature,
constitute forward-looking statements for the purposes of the safe harbor
provided by the Private Securities Litigation Reform Act of 1995. These include
statements regarding ourintent to conduct certain business operations, to
commercialize the proprietary technology we acquired from Speaking Roses, LLC
and other matters relating to our future business operations. These statements
are based on management's current expectations and beliefs and are subject to a
number of factors and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements, such as our
ability to develop a market for our products, the acceptanceby the public of
the floral embossing product concept, performance by third parties of their
contractual obligations to us, and our ability to manage growth, technological
change and competitive factors.
All information in this press release is as of February 15, 2004, and we
undertake no duty to update this information. A more complete description of
the risks associated with our historical business operations can be found in our
filings with the Securities and Exchange Commission.
DATASOURCE: Speaking Roses, LLC
CONTACT: Joseph Featherstone, VP Marketing/PR of Speaking Roses,
+1-801-677-7673,