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Cinnabar Ventures, Inc. Signs a Definitive Agreement to Acquire Advanced Network Solutions, Inc. to Expand Network Footprint for the Yippy Cloud-Based Operating System
| Source: Cinnabar Ventures
FORT MYERS, FL--(Marketwire - December 15, 2009) - Cinnabar Ventures, Inc. (OTCBB : CNBR ), the
creators of the Yippy OS; www.yippy.com, a cloud-based operating system
(OS) currently in beta, signs a definitive agreement to acquire Advanced
Network Solutions, Inc., www.rentagenius.com, which is doing business as
Rent a Genius. According to the terms of the deal, Advanced Network
Solutions, Inc. will become a wholly-owned subsidiary of Cinnabar Ventures
in exchange for cash, stock warrants and an employment contract for company
founders, Ike and Ann Kaplan.
"The acquisition of this 13-year profitable business by Cinnabar Ventures
provides us with an expanded network footprint in the Southeast to support
the burgeoning Yippy cloud-based OS," said Richard Granville, Chief
Executive and Chairman, Cinnabar Ventures. "Advanced Network Solutions,
Inc. shares our vision on cloud computing and believes that our technology
platform represents the future of computing."
"Technology is moving towards cloud computing, in which applications and
data live and run on the Internet instead of on the hard drive, to
counteract the limitations of portable devices and of being tethered to a
single PC," said Ike Kaplan, Chief Executive Officer, Advanced Network
Solutions, Inc. "I believe that the Yippy OS will become the standard in
cloud-based computing which will empower users with flexibility, power,
speed and safety. We are excited about this acquisition as we look forward
to growing Cinnabar Ventures into the gold standard of the sector."
About Cinnabar Ventures, Inc:
Cinnabar is a new economy technology company that develops technologies and
relationships for Web-OS systems in the Cloud computing space. Interactive
Media and online advertising are also a focus of Cinnabar. Cinnabar also
invests in other technologies such as device and systems management
platforms, as well as companies with high growth potentials in search,
social networking, e-com and wireless/data communications. Cinnabar
currently is in an acquisition mode to build the business model around like
and kind businesses with seamless vertical integrations into its long term
business plan. Cinnabar also licenses brands, domains and content for
distribution across our network platforms for wireless devices and
traditional content distribution channels.
About Advanced Network Solutions, Inc.
Based in Fort Meyers, Florida, Advanced Network Solutions, Inc., (DBA as
Rent a Genius), founded in 1996, specializes in providing the systems and
training companies require to work and maintain efficient growth.
Forward-Looking Statements
Pursuant to The Private Securities Litigation Reform Act of 1995: The
statements in this press release that relate to the Company's expectations
with regard to the future impact on the Company's results from new products
in development are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. These statements are
subject to risks and uncertainties. Words such as "expects," "intends,"
"plans," "may," "could," "should," "anticipates," "likely," "believes" and
words of similar import also identify forward-looking statements.
Forward-looking statements are based on current facts and analyses and
other information that are based on forecasts of future results, estimates
of amounts not yet determined and assumptions of management. Readers are
urged not to place undue reliance on the forward-looking statements, which
speak only as of the date of this release since they involve known and
unknown risks, uncertainties and other factors which are, in some cases,
beyond our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements. We assume
no obligation to publicly update or revise any forward-looking statements
in order to reflect any event or circumstance that may arise after the date
of this release, even if new information becomes available in the future.
Additional information on risks and other factors that may affect the
business and financial results of Cinnabar Ventures, Inc. can be found in
the filings of Cinnabar Ventures, Inc. with the U.S. Securities and
Exchange Commission. For more information on the company visit:
www.cinnabarcompany.com.