MINDEN, Nev., Aug. 24, 2004 (PRIMEZONE) -- In a long expected development, Kingdom Ventures (OTCBB:KDMV) today announced that its cause related marketing subsidiary, JoBasic, is now open for business and accepting applications. JoBasic Inc. is a cause related marketing company that allows consumers to "shop with a purpose". 51% of the profits of each shopping experience goes to an "Organization with Cause" (An OWC includes virtually any organization) of the consumer's choice. It's expected that OWC's across the country will become part of the JoBasic story as they develop a vital and ongoing revenue stream. Additional opportunities are available for Account Managers to serve their local communities and build their own entrepreneurial businesses. Additional information, Account Manager sign-up procedures and company bios are available at www.am.jobasic.com
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In a further move to develop the company's long-term prospects, Kingdom Ventures also announced that substantial funding for the subsidiary has been received from JoBasic Holdings, LLC. Repayment of operating capital advanced by Kingdom Ventures to date was also agreed upon. Jim Gibson of JoBasic Holdings, LLC has been named President of JoBasic, Inc. and will further develop the business strategy of JoBasic, along with Marvin Yakos, Founder and other members of the executive leadership team. Tom McMillen, former NBA standout, Rhodes Scholar and 3-term Congressman from Maryland is an Executive Board Member and will spearhead the financial considerations. Current Bio information on some of the JoBasic Management Team can be found at http://www.am.jobasic.com/companyframe.htm .
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Jim Gibson and his partners at JoBasic Holdings, LLC have a long and distinguished record of building and funding business entities. Other parties in the company have significant public company experience. Kingdom Ventures, by taking this step, has enhanced the long-term prospects of the subsidiary and further enables the Corporation to focus on its core mission of Christian communication and media properties.
Gene Jackson, CEO of Kingdom Ventures, says that, "JoBasic has been a positive part of our unfolding plan to develop our Company as a leading Christian media and communications enterprise. By bringing in capital and a new management team, we believe that Kingdom Ventures has now finalized its ability to focus on its core business while stabilizing and freeing the JoBasic subsidiary to pursue its highest and best development. We now believe that Kingdom Ventures will have the ability to leverage our previous investment in JoBasic to solidify our business plan to continue to develop Christian Times Today."
About Kingdom Ventures, Inc.
Kingdom Ventures, Inc. is a public company (OTCBB:KDMV) of media and products for the Christian marketplace. It consists of two operating units -- Kingdom Media Group and Kingdom Products Group. Christian Times Today(tm) is a part of the Kingdom Media Group, which also includes iExalt.com and iExaltMall.com. The Kingdom Products Group includes JoBasic, Yahwear Clothing and Mr. Roy Productions.
Christian Times Today(tm) (www.ChristianTimesToday.com) is a monthly newspaper that features news, information and special articles that offer a Biblical Worldview. The national edition with circulation in over 70 cities is distributed to churches, bookstores, coffee shops, etc.
JoBasic(tm) (www.JoBasic.com) is an Internet cause related marketing company with innovative and patent-pending systems that enhance organizational fundraising efforts and create easy, non-intrusive ways for the general public to help others.
Please visit: www.am.jobasic.com. If you decide to sign up, PLEASE BE SURE TO USE REFERRAL CODE 10128
All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including statements about the company's future expectations, including future revenues and earnings, and all other forward-looking statements (i.e., future operational results and sales) are subject to assumptions and beliefs based on current information known to the company and factors that are subject to uncertainties, risk and other influences, which are outside the company's control, and may yield results differing materially from those anticipated.