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Podium Venture Group, Inc. Announces LOI has been reached to acquire remaining 51% of N'East Magazine Feb 2, 2007 10:37:00 AM Copyright Business Wire 2007
PORTLAND, Maine--(BUSINESS WIRE)--
Podium Venture Group Inc. (PDVP), an apparel, media, and publishing holding company in the lifestyle sports industry announced today that it has reached an agreement with the members representing the remaining 51% of N'East Magazine. The closing of this acquisition would bring Podium Venture Group, Inc. its second wholly owned subsidiary.
"We started this process over a month ago - once we closed on the 49% we knew we wanted the remaining 51%. Given the acquisition's sensitive nature and the current PPS, the closing was delayed slightly to ensure a seamless transition. The good news is we have reached an agreement to bring 100% of N'East Mag into the company. Unfortunately there won't be much time for celebration - between the next issue's release scheduled for late February, the US Open of Snowboarding in March, the VT Freeskiing Open soon after that, and the release of our other subsidiary Erino Clothing's 2007 line; it's crunch time," Jim McGinley, President & CEO, Podium Venture Group, Inc.
N'East Magazine (www.neastmag.com) can be found at Borders, Barnes & Noble, Eastern Mountain Sports, REI, Hudson News, Universal News, Shaws, B. Dalton, and independent bookstores and retailers nationally.
This acquisition will be made possible through restricted stock and is scheduled to close on February 8th, 2007.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
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Podium has been in the 52 week low list for weeks now. I don't like the name.have no idea what they do. BUT if Matto and others jump in with buys, then a run might start. Interest builds and before you know it it runs. I'm not going in.
-------------------- Do not invest on any of my suggestions
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Yeah PK's are very very dangerous. If its a PK, its that way for a REASON. But hey look at ATLJ. Flippers made a fortune in this PK last 2 weeks. There's others as well. But in general, PK's are POS and OB's are mostly just "dogs" lol
CBAY is an OB. But trades like a PK. MEANING: OB's hold some value, you have opportunities to get out with minimial loss, PK's will take ALL YOUR MONEY in a few days time.
-------------------- Do not invest on any of my suggestions
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this play is diluting like it's going outta style. imho, wait for the dilution to stabilize for a bit and then bite on it. i bought this POS at .01 and with every PR they've put out, the stock continues to tank. they put out PRs, traders buy into it and they just buy dilution. only a month ago or so, their PRs said they were like 50 mil OS with like 750,000,000 AS... giving them all the wiggle room in the world to screw buyers. i'm still hanging on but have my sell order in a .008 and i'll be fine with -20% as long as i can get outta this POS with no MAJOR fouls. good luck, phat
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