ICC Worldwide, Inc. (Pink Sheets:ICCW) announced today that the firm’s trading symbol has now been changed to ICCW.PK. The new trading symbol is a result of the recent change of the company’s name from Torbay Holdings, Inc. to ICC Worldwide, Inc. This trading symbol change is effective at the open of business today.
George Stevens, ICC Worldwide’s Chairman stated, “This trading symbol change completes the process of establishing a new name and related branding identity for our company. Given the entirely new strategic direction we have adopted, a name change was necessary and urgent. Our principal operations are now rapidly developing as we focus on serving the needs of immigrant workers in Italy.”
Rich Lauer, ICC Worldwide’s President & CEO commented, “With formal approval of the name change and this new trading symbol, we will no longer need to operate as ICC Worldwide, a DBA of Torbay Holdings, Inc.”
Lauer continued, “With regard to our recent issues relative to the late filing of the company’s third quarter 10-QSB, we have resolved the outstanding accounting and reporting issues with our Italian operations. We are now working closely with our auditors to complete this process and expect to be in a position to announce results for the period ending September 30, 2007 soon. I should note that the auditor’s process has taken somewhat longer than normal as a result of our decision to change the company’s fiscal year-end from December 31 to September 30. Rather than a review focused on a single quarter, this change necessitated completion of a full audit for the entire new fiscal year. We anticipate completion of the audit shortly. Once these results are filed in a 10-KSB, we will be in a position to announce a number of recent notable events relative to the growth and development of ICC Worldwide.”
About ICC Worldwide
ICC Worldwide, Inc. (Pink Sheets:ICCW.PK) provides a range of communications, entertainment, and financial services products to the diverse immigrant worker communities in Western Europe. ICC also markets specialized alimentary products (ethnic food and beverages) to its customers through its rapidly growing network of wholesale and retail distribution centers in Italy. The firm’s principal operating units are located in Italy and the Republic of San Marino. ICC’s U.S. headquarters is located in Corona del Mar, California.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Torbay Holdings, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results