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247MGI INC ANNOUNCES BUSINESS OBJECTIVES AND CLARIFIES STOCK CAPITALIZATION
Ft Lauderdale FL., August 29, 2007- (TOFS:OTC-News) 247MGI Inc., is releasing this news in an ongoing effort to keep shareholders advised as to the company’s business objectives as well as its current capitalization.
Matt Dwyer, 247MGI’s Chief Executive Officer reported “I have received several inquiries as to why the Company has 500 million shares authorized, when will the Company resume trading on the OTCBB and what is the status of the acquisition with PurFusion”.
247MGI was going to complete a reverse merger with a company from China in 2006 that wanted the authorized shares to be increased to 500 million, it is not the intention or desire of 247MGI to issue this many shares or to cause severe dilution to our shareholders, which is why after we have completed our pending acquisitions we will reduce the amount of authorized shares to 100 million or less.
In regards to the Company resuming trading on the OTCBB, we have been in contact with several of our market makers and believe we have resolved this issue, so we ask our shareholders to refer to the to the OTCBB daily list beginning September 13, 2007.
In conclusion as indicated in our 10K we have several acquisitions in various stages that we feel will be completed once we resume trading on the OTCBB. We are in contact with all parties on a daily basis and believe our shareholders will be rewarded for their patience.
This media release may contain forward-looking statements regarding but not limited to management, market potential, distributor success, market size, international sales, including statements regarding the intent, belief or current expectations of 247MGI Inc and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could change actual results. Investors should refer to factors that could cause actual results to vary from current expectations and the forward looking statements contained in this media release.
Contact:
Matt Dwyer Chairman and CEO 954-323-2516 mdwyer*247mgi.com
247MGI Completes First Acquistion Friday August 31, 4:00 pm ET
FORT LAUDERDALE, Fla., Aug. 31, 2007 (PRIME NEWSWIRE) -- 247MGI Inc. (Other OTC:TOFS.PK - News) (``247MGI'') is pleased to announce that it has acquired the assets of a South Florida Media company for restricted common stock from our CEO Officer Matthew Dwyer. ADVERTISEMENT
247MGI will file an 8K next week releasing the terms of the transaction and will change its designation from a ``developments stage company'' to an ``operating company.'' 247MGI now owns a full service studio capable of Broadcast high resolution via the Internet. The Internet Broadcast services will include streaming high-resolution quality Video and Digital Audio over the web through its own proprietary hybrid player application and with the assistance of PurFusion it will utilize up to 98% less bandwidth during broadcasts then competitors currently use today.
247MGI has also acquired four software applications that are in various stages of development and deployment. The applications will be utilized by 247MGI in its media business some will be licensed out to third party companies and resold under a private label. Among the assets acquired was Digi Card, a personalized alternative to traditional birthday cards, the DVD birthday greeting card from professional athletes will play on any DVD player, can be tailored to a specific any age group and is not gender specific.
247MGI anticipates beginning operations of its IPRadio network in September and to begin broadcasting of its IPTV network in November. 247MGI forecasts monthly revenue of over $100,000 per month by the first quarter of 2008 and over $1 million per month 12 months from now. The increase is based on growth of the audience for its broadcasts over the next 12 months.
247MGI Inc. is a full service multimedia company, a one-stop media and advertising company that assists its clients by creating marketing materials utilizing technology driven media formats for the distribution of information worldwide. The company utilizes the Internet to deliver its content more efficiently and at a higher standard than its competition. 247MGI has developed and continues to create unique programs to include ``LIVE'' as well as streaming video content which will be delivered in high resolution through the web.
This media release may contain forward-looking statements regarding but not limited to management, market potential, distributor success, market size, international sales, including statements regarding the intent, belief or current expectations of 247MGI Inc and uncertainties that could materially affect actual results. Investors should refer to documents that the Company intends to file with the SEC for a description of certain factors that could change actual results. Investors should refer to factors that could cause actual results to vary from current expectations and the forward looking statements contained in this media release.
Contact: 247MGI Inc. Matt Dwyer, Chairman and CEO 954-323-2516 mdwyer*247mgi.com
-------------------------------------------------------------------------------- Source: 247MGI, Inc.
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posted
The Shareholders control the price on this one Cash..What a beautiful thing..No MM games, No Dilution and such a tiny FLOAT (6 Million!!). OS is only 30 Million and 23+ Million of those are RESTRICTED to the beginning of 2008!!! FLOAT 6 Million!
We are to start watching the OTCBB Alerts starting the 13 for the uplist. Can be anytime after that. Out of TOFS hands for exact date!
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Posted by: Tekkysurf In reply to: None Date:9/2/2007 7:47:49 AM Post #of 2399
I had saw a dokumentary several years ago. I have looking for the documentary again, but I have it no more.
The dokumentary shows a invention from a German young man and his problems to market his invention.
It was a new codec which reduce the datatransfer and disk space round about 20% better as MPEG2 Standard. And that is much.
You must image where you need to reduce datatransfer and disk space. If CD-ROM, DVD, BlueRayDisc, Sattelite TV, Cellphone-TV, every video in the internet and so on.
In the Dokumentary, they had shown in detail how better the new codec is and that he was looking for an investor. MPG didn`t want it and at the end of the film was microsoft by him and discussed an agreement.
wmv9 was born some months later.
So the pure monopoly (MPG) was broken by microsoft. After that MPG had brought there new standard H.264 (MPG4).
When TOFS say: "The Internet Broadcast services will include streaming high-resolution quality Video and Digital Audio over the web through its own proprietary hybrid player application and with the assistance of PurFusion it will utilize up to 98% less bandwidth during broadcasts then competitors currently use today. Then he just can mean: wmv9 and MPG4 because that are the standards.
And 98% better is unbelievable. That is so enorm like a carproducer say: My new car has the same power and comfort like every other car, but it needs just air for driving.
That is so great and when it is true than we have (TOFS) for a big winner for years.
Now TOFS needs a good marketing, good customers on both sides (customer like sportsTV or others, and I mean to know that they have that and consumers of sportsTV or others.)
When you are looking for H.264 (It`s like the same as wmv9 and MPEG 4)than you see company use that. Apple, Microsoft, many bankers and brokers, BlueRayDisk, DVD and so on.
It is a hugh market for TOFS, when "up to 98% less bandwidth" is correct!!!
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