New World Brands Inc. executed an asset purchase agreement pursuant to which the company agreed to acquire certain assets of Aeropointe Partners Inc., and pursuant to which it was agreed that certain changes would occur in connection with the company's Officers and Directors. Steven Bell, CEO of Aeropointe, will be taking over the position of President of NWB and become a member of its Board of Directors. Shawn Lane, President of API, will assume the title of Chief Operating Officer of NWB. NWB will also be adding a new director of carrier sales and operations staff as result of this transaction. All new members of NWB's senior management have many years of experience in the telecommunications industry and provide complementary talents to the existing NWB management.

Effective October 5, 2009, the Board of New World Brands Inc. elected not to appoint Jacob Schorr to another term as Director, and consequently his Term as Director has expired.

Effective June 19, 2009, New World Brands Inc. entered into a Loan Agreement with Sigram Schindler Beteiligungsgesellschaft mbH, pursuant to which SSB agreed to loan the company up to $250,000 at an interest rate of 18% per annum with a maturity date of December 31 2009. The SSB Loan is subject various conditions precedent some of which have been achieved and the company received $125,000 under the SSB Loan from SSB on June 19, 2009.