LAGUNA HILLS, CA, May 29, 2018 (GLOBE NEWSWIRE) -- MC Endeavors, Inc. /Room 21 Media (PINKSHEETS: MSMY) today issued a letter to shareholders from the company’s CEO John Stippick to update shareholders, potential investors and the general public on the progress and achievements the company has made over the past nine months.
Dear Shareholders,
First and foremost, I want to say that for me it is both an honor and a privilege to be CEO of MC Endeavors, Inc. This opportunity to create an enterprise that utilizes our core technologies for the enablement of social commerce is both a challenge and a joy. I can honestly say that I am excited every day to be at the office, take meetings, and share the vision and accomplishments of our company.
The purpose of this update, albeit lengthy, is to provide our shareholders and other interested parties updates and insights into the strategic direction of the company.
As an additional preface to this letter, I want to state the guiding principles of the company have been and will always be the development of leadership, revenue opportunities, and compliance. The continued goal of our leadership has been to create a sustainable enterprise by adding structure and processes to the business while developing and cultivating new revenue opportunities.
The first four months of being the CEO I was focused on compliance with the singular goal of taking a once dormant issue with a Caveat Emptor status to becoming Current Status on the OTC markets. This included the significant time, energy, and personal expense to seeing this process through. In addition, we were able to successfully remove the DTC Chill from the stock trading as well. This four month long task resulted in exponential gains for our shareholders.
In November 2017, MC Endeavors acquired a stake in the company Bitcoin Profits. We felt that the small cost of acquisition coupled with the Bitcoin interest in the markets could benefit our shareholders. However, with the significant drop in the price and interest of Bitcoin, we decided to focus on more profitable business opportunities as we saw that the effort would not justify the outlay of the capital or manpower. Being a smaller company, we must be frugal and wise with our resources. Should the market dictate a return to providing the Bitcoin seminars, we have the option to do so and will notify the shareholders if we make that strategic return.
Our plan from the beginning has been to become a fully reporting company and on January 30th, 2018, we announced that we began interviewing registered accounting firms. As an update to these efforts and based on the consultation of our legal team, the company plans to retain MJF & Associates this week to guide our team toward becoming a Fully Reporting company. In relation to this, I have been exploring options to cancel and reduce the number of common shares I own. I am already in communication with the transfer agent and will work with the auditors to provide responsible guidance that will facilitate exchange of my common shares to reduce the Total Outstanding shares of the company by 50%. I am doing this to clearly demonstrate that I want every shareholder to know that Room 21 Media is my long term vision. I’m hard at work for every shareholder, for my family, and your family too. I take it very personally that each and every shareholder has become a stakeholder in the vision.
For December 31st, 2017, we recorded record revenue in our previous quarter of $153,000 with a 600% gain over the previous quarter. As a part of our plan for the first quarter of 2018, we made the strategic decision to monetize the TheShare.TV asset by creating the Room 21 Media Studio and defer other projects which will be implemented at a later time. This resulted in lower revenues for the first quarter of 2018. The logic in this decision is that I knew we could successfully launch a broadcast network and that our MSMY shareholders would be in a much better position for both shorter and longer term gains by clearly demonstrating our business strategy. Remember, this has been our plan from the very beginning of Room 21 Media: to analyze discreet vertical markets, rapidly implement our core technologies, and then create new businesses that can ultimately become profitable public companies utilizing the technologies of the parent company (MSMY). This is the power of the Room 21 Media platform and is our business model which will be replicated many times in the coming quarters and years.
It is with great pride and through our past relationships in the broadcasting and entertainment world, we have been able to secure a fully operational broadcasting facility. As a side note, will be utilizing our relationships in the entertainment world to revisit the our past projects and return back into the Entertainment vertical i.e. Battle For the Stage, Get A Role,VIP Talent Academy. For now we will showcase our new facility, on June 15th, 2018 at 7 pm as we are hosting an “Open House” at our studio on 23022 La Cadena Ste. 201, Laguna Hills, CA 92653. I personally welcome our shareholders to attend. During the open house, our team will showcase the original programming we are producing, revenue automation tools, national advertising clients, and the variety of distribution outlets for our content.
With that being said, it has been announced that TheShare.TV has executed a term sheet to be merging into Megola, Inc. (OTC Pink: MGON) via Reverse Takeover Merger (RTO). Our legal team is still analyzing the capital structure, requirements to return to OTC Pink Current Status, and the pathway to becoming Fully Reporting. I want to reiterate, we have signed a fully executed term sheet and based on our past relationship with the International Venture Society, we fully intend to complete the RTO.
The RTO will benefit both MSMY and MGON. Our MSMY shareholders will benefit by receiving a distribution/dividend of shares for their ownership of MSMY stock. MGON shareholders will see an operational company finally take the helm of their once dormant vehicle and will get to leverage the expansive technology assets of Room 21 Media. We will release the details shortly as we work through the process.
While TheShare.TV launch has been a significant undertaking, our focus at Room 21 Media has been to demonstrate the power of the Room 21 Media platform and our team. Our blueprint from the very beginning is that by demonstrating success with our platform and implementations, our team is building multiple strategic assets simultaneously. We have rapidly moved from proof of concept with successful “clean up” of a dormant vehicle to regaining Pink Current Status (MSMY). We have a methodology and will use the same successful team to repeat the process for MGON.
I want to thank all those members of our team that continue to work as diligently as I do and with a purpose to making the company a lasting enterprise. Our team includes such notable talent as Bob Munck, Richard Berry, Elisa Edwards, and Booth Udall Fuller, LLP. As the revenues grow for TheShare.TV, I will build out an additional leadership team for TheShare.TV.
The Room 21 Media platform has been and will continue to be the underlying technology resource for our subsidiaries and clients. In 2016, Room 21 Media acquired the assets of the Super Star Learning Company. The core technology will empower the company to move in a wide variety of educational markets. We are absolutely focused to the growth and development of our core assets and will leverage every business interest toward the growth in value of Room 21 Media. This is the “engine” that drives the entire vision and empowers every business and every vertical market we plan to we enter. When our initial RTO of Room 21 Media and MC Endeavors took place in September of 2017, I completed the merger based on the plan that is unveiling now. I have been building this vision for many years and I will retain creative control to see the vision completed in the coming years. Our shareholders can expect to see many new members join the team in the coming months. Just know that I will see the plan all the way through. While we cannot fully disclose every element of the plan at this time, know that our direction is guided by our thoughtful research, due diligence, and commitment.
We encourage shareholders, potential investors and the general public to follow us on our Social Media Channels for Room 21 Media and TheShare.TV as we will be posting significant updates on social media.
Once again, it is with a great deal of enthusiasm and honor that I continue to be relentless in the attainment of the shareholder value for which we all work and hope for in the coming years.
Sincerely,
John Stippick
CEO, MC Endeavors, Inc
Room 21 Media, Inc
P.S. On the Room 21 Media website, I have had our team add “Ask the CEO” contact page http://room21media.com/ask-the-ceo/ so that any of our shareholders or interested parties can feel free to ask about the initiatives of our company going forward.
For further information contact:
John Stippick
President
MC Endeavors, Inc/Room 21 Media
Phone: (310) 986-6373
E-mail: johns@room21media.com
Safe Harbor Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE MC Endeavors, Inc
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