HMWM Humware Media Corporation Common Stock EFTB EFT Biotech Corporation Common Stock 1-20,000 R/S
HumWare Media Corp. Changes Name to EFT BioTech Holdings, Inc. and Announces 20,000 to One Reverse Stock Split and Proposed Merger to Acquire EFT BioTech, Inc., a B2C Internet Merchandiser Thursday November 8, 8:30 am ET
GOLDEN, CO--(MARKET WIRE)--Nov 8, 2007 -- HumWare Media Corp. (Other OTC:HMWM.PK - News) (the "Company") announced today that it has changed its name EFT BioTech Holdings, Inc., effective immediately. The Company has filed an amendment to its Certificate of Incorporation with the state of Nevada to effect the name change. There were no other changes to the Company's Certificate of Incorporation. ADVERTISEMENT
The Company also announced that it will effect a 20,000 to one (20,000:1) reverse stock split of the Company's common stock on November 12, 2007 for the holders of record of the Company's common stock as of the close of business on October 27, 2007. As of the record date, there were 2,337,999,585 issued and outstanding shares of common stock of the Company. After giving effect to the reverse stock split that number will be reduced to approximately 118,662 issued and outstanding shares of common stock of the Company, rounding up for fractional shares.
The Company has also announced that on November 1, 2007, it entered into a proposed Share Exchange Agreement with EFT BioTech, Inc., a Nevada corporation engaged in Business-to-Consumer (B2C) internet merchandising ("EFT"). Pursuant to the Share Exchange Agreement, the Company will acquire 100% of the issued and outstanding shares of EFT's common stock from the current shareholders of EFT in consideration for an aggregate of 53,300,000 shares of the Company's common stock, representing approximately 87.01% of the issued and outstanding shares of the Company's capital stock on a fully diluted basis. After giving effect to the exchange, EFT will be a wholly-owned subsidiary of the Company and there will approximately 61,256,900 shares of the Company's common stock issued and outstanding. The transaction is currently scheduled to be consummated on November 18, 2007, subject to change, the completion of due diligence, customary conditions and obligations of both parties.
About HumWare
HumWare Media Corporation is an emerging out-of-home "new media" advertising company. The Company also sells sports memorabilia through its wholly owned subsidiary Timeless Sports Inc.
About EFT BioTech, Inc.
EFT BioTech, Inc. is a very unique E-Business Company designed around the concept of Business-to-Customer using the World Wide Web as our "storefront" and business platform. EFT's method of conducting business is for a customer to go online and join EFT as an Affiliate. Once the customer completes the necessary information for joining EFT, selects and pays for his/her order, he/she is then considered as an EFT Affiliate. From that time on, the Affiliate is allowed to receive a commission on the purchases made by others who he/she introduces to EFT and also on additional Affiliates who his/her Affiliate introduces to the EFT.
PSLA Safe Harbor for Forward-Looking Statements
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management's best judgment as to what may occur in the future. However, actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions and may differ materially from what is expressed. There is no assurance that regulatory approval will be obtained in any specific market nor any assurance that sales, once begun, will be material.
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