RG Global Lifestyles, Inc. to Focus on Growth of AQUAIR
November 16 2005
In a move to direct the Company’s resources to the growth of Aquair, and pursuant to an Agreement reached with certain shareholders of RG Global Lifestyles, Inc. who formerly were the shareholders of Amerikal Nutraceutical Corp., the parties have executed a definitive agreement to exchange all of the stock of Amerikal Nutraceutical Corp. for the return of
7,500,000 shares of common stock of RG Global Lifestyles, Inc., The Company will retire the shares to its Treasury, reducing the outstanding shares of common stock of RG Global Lifestyles, Inc. to 17,650,000. The Company is informed by its legal and accounting advisers that the transaction qualifies as a tax-free exchange under Section 355 of the Internal Revenue Code, with no gain or loss to be recognized by either party.
The Company further announced the resignation of Herrie Tantono as Secretary and Director of the Company. The Board elected Joe Murray and Brig. General Steve Ritchie, USAF, Ret. as new members of the Board of Directors, and appointed Mr. Murray as Secretary. General Ritchie has been a member of the Board of Advisors of Aquair, Inc. since August 2005 and is actively representing the Company in the sales of Aquair products.
General Ritchie graduated top in his class from the Air Force Academy. Three decades ago, General Ritchie flew more than 800 combat hours in the F-4 Phantom during 339 missions over
Mr. Murray has ten years of technical performance and management experience in IT consulting and project management. Three of those years were spent at Northrop Grumman Information Technology (formerly TRW) where he worked as the mobile technical lead, working closely with the City of Los Angeles project management to implement a new Mobile Data Solution and to integrate that system with the Computer Aided Dispatch, Radio and Telephony systems. Mr. In a statement by Louis L. Knickerbocker, Chairman and CEO of RG Global Lifestyles, Inc., he said: “Aquair is uniquely positioned to take advantage of the world wide need for a new source of pure drinking water. We are the only company offeri


