VitaCube Systems Holdings, Inc. (OTCBB: VCBE), announced today that it has terminated the employment of Nick Mangeris, who formerly managed associate recruiting for the Company's wholly owned subsidiary VitaCube Network, Inc. Mr. Mangeris had been employed by the Company since July 2003. Sandy Greenberg, the Company's Chief Executive Officer, said, "Due to recent allegations of conduct alleged to have occurred prior to Nick's employment by the Company, activities that had nothing to do with the Company, our operations or our finances, we determined that it was in the best interests of the Company to terminate the employment of Nick Mangeris at this time."
Tim Transtrum, Chief Operating Officer, has agreed to serve as interim Director of Network Marketing. Mr. Transtrum has comprehensive management background in corporate operations and a strong history of successfully leading network marketing companies through dramatic growth.
VitaCube Systems Holdings, Inc., is a provider of high-quality meal replacement powder and premium nutritional dietary supplements. Recently, the company began selling its products through its newly created network marketing organization. VitaCube products are not sold in grocery or mass-market retail stores.
