More Closely Aligns Identity With the Strategic Direction of the Company
110 Media Group, Inc. (OTCBB: ONTN)
ORLANDO, Fla., July 10 /PRNewswire-FirstCall/ — 110 Media Group, Inc. (OTC Bulletin Board: ONTN – News) announced today that it is changing its name to Web2 Corp. in order to more closely align its identity with the strategic direction of the company. Approved by the Board of Directors and a majority of shareholders, the new identity as Web2 Corp. signals a new focus on development of innovative Internet products targeting E-commerce, small businesses and next-generation online tools. The process of completing the name change is expected to be completed before the end of July. The company now trades on the OTC:BB Electronic Quotation Service under the trading symbol “ONTN,” but expects to obtain a new symbol upon completion of the name change.
The name change accurately reflects the Company’s mission according to its Chairman, William Mobley. “Our focus is on profitably harnessing rapid development and adaptation of innovative, new ‘Web2.0′ Internet technologies to address user frustration and gaps in product coverage. We strive to lever Web2.0 technologies and philosophies to make products easier to use and more affordable for a wider array of customers. We move Web2.0 from novelty to practical business model,” said Mobley. The company name change is timed to coincide with the launch of new products by the company, expected to occur in the third quarter.
ABOUT 110 Media Group, INC.
110 Media Group (OTC Bulletin Board: ONTN – News) products and services address a significant market gap by providing non-technical business operators of small to medium-sized businesses with all the necessary services needed to migrate their cottage industries to the Internet or to start a new Internet business. 110 Media’s Chamber of eCommerce packages provide all the necessary components for a successful online business in just one hour. The Company’s integrated friendly, helpful, non-threatening bundle that can be easily accessed and managed by low-tech business operators. The company profitably provides all elements basic to any business endeavor in a cost-effective package offered for $19.95 per month with no start-up fees. Clients simply need to add their information and products or services to be in business in as little as an hour without knowing a thing about HTML, Flash, Secure Socket Layers, FTP, or any other technical aspect of creating and running a website.
The company’s numerous products are vertically integrated and primed to become the easiest and most innovative Internet utilities since Yahoo! or Google, coupled with the viral rapid marketing growth of such first-to-market leaders as MySpace, MSN Hotmail, ICQ, Blue Mountain Arts and Napster.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than statements of fact included in this release, including without limitation statements regarding potential future plans and objectives of the Corporation, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Gross turnover could be substantially less in the future due to changes in the law, general economic conditions, or unexpected failure of equipment servicing the accounts. In addition, technical complications which may arise could prevent the prompt implementation of the plans outlined above. Additional Safe Harbor Act Disclaimer Notice is available on the web site at http://www.110mediagroup.com.
Source: 110 Media Group, Inc.
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