Holding Company to Spin Off Individual Business Units Into Publicly Traded Companies
Mobile Ready Entertainment Corporation (OTC: MBRN)
STROUDSBURG, PA–(MARKET WIRE)–Aug 8, 2006 — Mobile Ready Entertainment Corp. (Other OTC:MBRN.PK – News), a holding company of intelligent services announced that the Company has officially begun the process of becoming a Holding Company. Currently MBRN has three business units that will be spun off into their own publicly traded companies over the next few months. Each of the business units: Travel Entertainment, Mobile and Wireless Technologies and Entertainment and Content will be rolled off either on the US markets or the Frankfurt exchanges and a dividend paid to shareholders.
The first company has been acquired and the dividend and pricing for Key2Travel Inc., our Travel Entertainment Unit will be announced shortly. Over the next six to nine months we will acquire additional companies and formulate our plans accordingly.
“This is the beginning of excellent shareholder value for the MBRN shareholder,” Josh Eikov, MBRN CEO said. “We have a philosophy that we are building at MBRN: Connected businesses that can survive independent of each other around the mobile and wireless theme. This is a very exciting time here at MBRN,” Eikov finished.
Holding Company Formation:
The Holding Company concept was set up so the parent company, Mobile Ready Entertainment Corp. will become Mobile Ready Entertainment Holdings Corp. Mobile Ready Entertainment Holdings will develop each business unit and spin each company off into its own publicly traded company. In the meantime, Mobile Ready Entertainment will begin to look for new companies to acquire and develop for 2007 and beyond.
Summary:
We are moving to build value for our shareholders as we build our business plan and model, the results are beginning to accrue and we expect to continue to achieve our objectives.
About Mobile Ready Entertainment Corporation
Mobile Ready Entertainment Corp. (Other OTC:MBRN.PK – News) is a strategic holding company that manages a portfolio of market leading technologies and services in mobile entertainment and digital media. Our companies operate in mobile communications, mobile corporate services, digital media entertainment and the best in games and entertainment. Through our subsidiaries we will develop, market and sell wireless application software and entertainment-based content for mobile devices. Our value proposition is to unlock, integrate and seamlessly deliver all types of data to wireless devices, whether streaming movies, music video or television content and digital radio delivery to the growing consumer market via channel and content partners — anytime, anywhere. We deliver these products and services globally across most of the major cellular networks and prominent wireless device operating systems. Mobile Ready acquired Key2Travel which spans games, concierge services, and other mobile lifestyle products. Key2Travel offers personal concierge services that assist with planning and arranging destination activities. For a traveler, K2T provides the ability to pre-plan destination activities prior to arrival through a single, easy to navigate web site or via a staffed call center. For corporations, K2T delivers unique value-add employee benefit programs, alternate revenue centers, and expense control. For travel suppliers, K2T is a much-needed differentiator in a competitive industry. For information about Key2Travel please visit www.key2travel.com. For more information about Mobile Ready, please visit its website at www.mymobilereadyec.com.
Forward-Looking Statement
The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. The statements contained or incorporated by reference in this website that are not historical facts (including without limitation statements to the effect that Mobile Ready Entertainment Corp. (the “Company” or “Mobile Ready”) or its management “believes,” “expects,” “anticipates,” “plans,” “intends,” “foresees,” or other similar expressions) are forward-looking statements. These forward-looking statements are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those anticipated by the Company. All comments concerning the Company’s expectations for future revenue and operating results are based on the Company’s forecasts for existing operations and do not include the potential impact of any future acquisitions. These forward-looking statements involve significant risks and uncertainties (some of which are beyond the Company’s control) and assumptions.
Contact:
Mobile Ready Entertainment Corporation
Joshua Eikov
CEO
570-269-8303
josh@mymobilereadyec.com
Source: Mobile Ready Entertainment
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