LOS ANGELES, Feb 12, 2004 /PRNewswire-FirstCall via COMTEX/ -- Bluetorch Inc.
(OTC Bulletin Board: BTOR) announced today that its Series B Preferred Stock of
$365,000 with Boston-based Dutchess Private Equities Fund LP, has been retired
and its obligation met in full.
Bruce MacGregor, Bluetorch Inc. CEO, stated, "We are very pleased to announce
the retirement of this obligation. Dutchess has created a successful working
partnership with our company and continues to be a supplier of the working
capital during our growth period." MacGregor added, "We will continue to
strengthen our balance sheet as we move forward and our business progresses."
About Bluetorch Inc.
Bluetorch Inc. is an emerging extreme sports company with a well-defined growth
strategy focused on licensing, marketing and sales of various products for the
extreme sports enthusiast. The Company's management team is focused on
increasing shareholder value while expanding its product line to address the
needs of the extreme sports arena, one of the fastest-growing segments in both
the sporting goods and apparel industries. Additionally, Bluetorch Inc. is
aggressively seeking compatible acquisition and/or licensing opportunities in
order to further expand its distribution channels, which in turn would
contribute to additional growth in revenues and earnings. For more information
or to stay updated on the Company's progress, visit: www.bluetorchinc.net
For further information please contact: investors, Marge Rohr of Bluetorch Inc.,
+1-562-983-8045, investors@bluetorchinc.net ; or Geoffrey Eiten of OTC Financial
Network, +1-781-444-6100, ext. 613, geiten@otcfn.com, for Bluetorch Inc.
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