247MGI Issues Update.

FORT LAUDERDALE, Fla. -- 247MGI, Inc. (OTC:TOFS) will be releasing a corporate update within the next few days to update shareholders on the company's progress.

Recently the Company canceled 300 million shares of Common stock and issued convertible Preferred stock to the shareholder, thereby reducing the outstanding share count to 99 million. The Company had also made arrangements with SOYO to convert their 40 million shares of Common stock to Preferred to avoid any accounting issues for SOYO, at this time SOYO has not yet converted any of its Common Stock.

Further corporate updates will be issued shortly regarding the Company and a new President and new Board members.

Safe Harbor

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.