NEW YORK, May 19, 2004 (PRIMEZONE) -- Dominix, Inc. (OTCBB:DMNX) announced today that effective May 24, 2004, Raymond Barton, its Chief Executive Officer, will join Dominix's Board of Directors as Chairman of the Board of Directors and Timothy Schmidt, its President, will join Dominix's Board of Directors and that upon such appointments becoming effective, Mr. Andrew J. Schenker, will resign as director of the Board of Directors.
In addition, as previously announced, Dominix will effect a reverse split of its outstanding common stock on the basis of one (1) share-for-two hundred (200) shares which will become effective on or around June 4, 2004. Also, effective upon the reverse split, the Company will also effect a name change to "110 Media Group, Inc." and will make an application to change its trading symbol. Pending such changes, Dominix will continue to trade under the symbol "DMNX".
Raymond Barton, Dominix's Chief Executive Officer commented that "these actions represent important steps in the transformation of our business into a new adult entertainment company with 110 Media Group, Inc. as the new name for the parent company and Jade Entertainment Group, Inc., its wholly owned developer and marketer of internet advertising and search services for the adult entertainment industry, the most lucrative and profitable segment on the web."
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
This press release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on Dominix's management's current expectations and are subject to risks and uncertainties and changes in circumstances. All forward-looking statements included in this press release are based upon information available to Dominix, Inc. as of the date of the press release, and it assumes no obligation to update or alter its forward looking statements whether as a result of new information, future events or otherwise. These forward-looking statements may relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact. Further information on risks or other factors that could affect Dominix's results of operations is detailed in its filings with the United States Securities and Exchange Commission available at: (http://www.sec.gov).