NEWARK, Del., May 22, 2008 (PRIME NEWSWIRE) -- Theater Xtreme Entertainment Group, Inc. today announced that as a result of it not timely filing its Form 10-QSB for the quarter ended March 31, 2008, the company is now trading under the symbol TXEGE. The company and its auditors are diligently working to complete the Form 10-QSB and file it with the Securities and Exchange Commission as soon as possible. Once that filing is made, the company expects to resume trading under the symbol TXEG.
About Theater Xtreme Entertainment Group, Inc.
Theater Xtreme Entertainment Group, Inc. is a specialty retailer of real movie theaters for the home. The Company's 80" to 120" front projection systems deliver an authentic movie theater experience, as an increasingly popular alternative to flat panel televisions. Its cinema packages, featuring brand names and factory direct products, are simple to use and cost significantly less than traditional A/V dealer offerings. It operates 3 company owned stores and has 10 franchises in 12 states.
Safe Harbor Statement
Some of the information presented in this letter constitutes forward-looking statements. Forward-looking statements represent the Company's judgment regarding future events, and are based on currently available information. Although the Company believes it has a reasonable basis for these forward-looking statements, the Company cannot guarantee their accuracy and actual results may differ materially from those the Company anticipated due to a number of known and unknown uncertainties, of which the Company is not aware. Factors which could cause actual results to differ from expectations include, among others, the ability of the Company to sell franchises, success of the franchise stores, the ability to find suitable locations for new corporate and franchise stores, delay or loss of key products from vendors, the ability to maintain margin and sales growth rate, disruption of product delivery from overseas suppliers, changes in regard to significant suppliers, increased competition from companies with more expertise, experience, or financial resources, technological changes in the home theater market which may render the Company's offerings obsolete, less competitive, or too expensive, material reduction in the demand for home theaters, and lack of sufficient capital to allow the Company to achieve its corporate store opening goal. For additional information concerning these and other important factors that may cause the Company's actual results to differ materially from expectations and underlying assumptions, please refer to the reports filed by the Company with the Securities and Exchange Commission available at www.sec.gov.
CONTACT: Theater Xtreme Entertainment Group, Inc. Investor & Media Contact: Justin Schakelman 302-455-1334 x113 email@example.com
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