BOUNDLESS MOTOR SPORTS RACING, INC. OBTAINS TEMPORARY RESTRAINING ORDER
AGAINST FORMER WORLD OF OUTLAWS OWNER TED JOHNSON
NORMAN, OK, July 16, 2004 / Business Wire / Boundless Motor Sports
Racing, Inc. (OTCBB: BMSR.OB) (Boundless) announced that it’s wholly-owned
subsidiary, World of Outlaws, Inc. (“WoO”) has obtained a Temporary
Restraining Order (“TRO”) against the former owner of WoO, Ted Johnson from
the District Court of Dallas, TX. The TRO prohibits Mr. Johnson and his
affiliates (the “Johnson Group”) from: (i) interfering with WoO’s operation
of its business; (ii) making any statements that the Johnson Group possess
or control WoO’s business or the trade name “World of Outlaws”; (iii)
stating to anyone that the Johnson Group have any involvement in World of
Outlaws’ races; and (iv) attending any WoO races (except as a general
spectator). The TRO further requires the Johnson Group to immediately
return to WoO any property previously seized by the Johnson Group belonging
to WoO.
Previously, Mr. Johnson had “repossessed” certain assets of WoO as a result
of his assertion that a promissory note issued to his company in connection
with the sale of the assets of WoO to a subsidiary of Boundless was in
default. Boundless believes that it was not in default of this promissory
note. Entering of the TRO was conditioned upon Boundless making a payment
on this promissory note of $260,000 to Mr. Johnson’s company, which it has
done. Boundless intends to aggressively pursue various claims that it has
against the Johnson Group.
“It is unfortunate that Ted Johnson chose to take these actions, and we
apologize to all of our drivers, team owners, fans and sponsors for the
confusion caused by Mr. Johnson’s actions”, said Paul Kruger, Chief
Executive Officer of Boundless. “We intend to continue normal operations,
starting with tonight’s races at Eldora Speedway, without any interference
from Mr. Johnson. A hearing on this matter is scheduled for July 26, 2004.”
Based in Norman, OK, Boundless is a racing and sports entertainment
company. Boundless is currently pursuing the acquisition of dirt motor
sports racing sanctioning organizations, promotional organizations and
racetracks in the United States.
For further information on Boundless or this press release contact
Terri Metzger, Public Relations at 405-360-5047 Ext. 113, email
press@boundlessracing.com, or visit our corporate web site at
www.boundlessracing.com. For more information about the World of Outlaws
visit the official web sites at www.theworldofoutlaws.com and
www.WoOLMS.com.
AGAINST FORMER WORLD OF OUTLAWS OWNER TED JOHNSON
NORMAN, OK, July 16, 2004 / Business Wire / Boundless Motor Sports
Racing, Inc. (OTCBB: BMSR.OB) (Boundless) announced that it’s wholly-owned
subsidiary, World of Outlaws, Inc. (“WoO”) has obtained a Temporary
Restraining Order (“TRO”) against the former owner of WoO, Ted Johnson from
the District Court of Dallas, TX. The TRO prohibits Mr. Johnson and his
affiliates (the “Johnson Group”) from: (i) interfering with WoO’s operation
of its business; (ii) making any statements that the Johnson Group possess
or control WoO’s business or the trade name “World of Outlaws”; (iii)
stating to anyone that the Johnson Group have any involvement in World of
Outlaws’ races; and (iv) attending any WoO races (except as a general
spectator). The TRO further requires the Johnson Group to immediately
return to WoO any property previously seized by the Johnson Group belonging
to WoO.
Previously, Mr. Johnson had “repossessed” certain assets of WoO as a result
of his assertion that a promissory note issued to his company in connection
with the sale of the assets of WoO to a subsidiary of Boundless was in
default. Boundless believes that it was not in default of this promissory
note. Entering of the TRO was conditioned upon Boundless making a payment
on this promissory note of $260,000 to Mr. Johnson’s company, which it has
done. Boundless intends to aggressively pursue various claims that it has
against the Johnson Group.
“It is unfortunate that Ted Johnson chose to take these actions, and we
apologize to all of our drivers, team owners, fans and sponsors for the
confusion caused by Mr. Johnson’s actions”, said Paul Kruger, Chief
Executive Officer of Boundless. “We intend to continue normal operations,
starting with tonight’s races at Eldora Speedway, without any interference
from Mr. Johnson. A hearing on this matter is scheduled for July 26, 2004.”
Based in Norman, OK, Boundless is a racing and sports entertainment
company. Boundless is currently pursuing the acquisition of dirt motor
sports racing sanctioning organizations, promotional organizations and
racetracks in the United States.
For further information on Boundless or this press release contact
Terri Metzger, Public Relations at 405-360-5047 Ext. 113, email
press@boundlessracing.com, or visit our corporate web site at
www.boundlessracing.com. For more information about the World of Outlaws
visit the official web sites at www.theworldofoutlaws.com and
www.WoOLMS.com.
