ORLANDO, Fla., Jan. 27, 2004 (PRIMEZONE) -- EMAXNET, Inc, minority-owned by eMax Corporation (Pink Sheets:EMAX), announced today that it has signed an agreement to purchase the significant assets of MarketBeasts.com LLC.
Don O'Neil, EMAX NET Vice President, states: "The know-how and functionality these assets encompass represents a substantial addition to our eMax Software Group meshing neatly with EMAXNET's business plan providing a quality platform for on-line distribution of our library of multimedia content as well as making financial data services available to our eMax Television Group. In addition, the MarketBeasts.com business plan's projected EBITDA promises seven figure revenues that will significantly improve our own bottom line and cash flow with a minimal capital investment on our part. We believe this acquisition to represent a valuable addition to EMAXNET's portfolio."
This purchase agreement, when completed, transfers to EMAXNET the rights to a large body of proprietary intellectual property, software applications, infrastructure, Internet domains, customer base and the mature business plan for an Internet Portal and Data Service. MarketBeasts.com is a two year old, privately held, Limited Liability Company specializing in Internet technologies and concentrated data delivery services.
About EMAX NET, Inc.:
EMAX Net, Inc. plans to launch a 24 hour broadcast network showcasing all-family entertainment. The company intends to license broadcast programming to satellite and cable broadcast networks competing directly with the major networks. EMAX Net, Inc. owns the rights associated with emaxol.com, which recently entered an agreement to acquire sixteen television stations throughout the U.S. and plans to finalize an alliance with IDVDBOX, Inc. to market the i2DVD player. EMAX Net, Inc. plans to acquire the rights to a full media production and post-production facility in Florida as well as additional companies in the Internet, broadcasting, communications and wireless industries.
About eMax Corporation:
eMax Corp. is a holding company investing in multimedia and family entertainment content through two corporations and four divisions (eMax Realty Group, Inc. and EMAXNET, Inc. with divisions eMax Music, eMax Studios, eMax TV Group and eMax Software Development Group) and a shareholder interest in the company Freedom Entertainment International, Inc. (with subsidiary Freedom Entertainment Canada, Inc.). These seven operating areas offer technology-driven, high- quality products and services focusing on pre-recorded music, outdoor sports and special events, sales of motorcycles and motorcycle-related accessories, feature film production, television programs and the acquisition and development of real estate.
Corporate updates & developments: http://www.emaxcorp.com
Current quotes: http://www.pinksheets.com/quote/quote.jsp?symbol=EMAX
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward- looking statements involve risks and uncertainties, including, without limitation, the future press releases of EMAX.