AXESS MEDIA Inks Deal with GLOBEX; AXMG Signs Agreement with GLOBEX Financial Group Inc.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Oct. 9, 2001 The AXESS MEDIA Group Ltd. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : AXMG), a publicly traded Internet production and multimedia company, Tuesday announced that it has entered into an agreement with the GLOBEX Financial Group Inc. to bolster its new business development, financial backing, and merger/acquisitions plan. A consulting and services agreement was entered into between the parties as effective Oct. 1, 2001. The terms of the deal were not disclosed, but the initial undertaking reportedly provides services to AXMG through at least the end of the first quarter 2002. "We are delighted to have an investment services firm with a proven track record of performance as GLOBEX on our team," said AXESS MEDIA Chairman Michael Grandon. "This is particularly significant for broadening the base of AXMG's strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. and increasing management execution, while continuing to focus intensively on building and deploying the AXESS NETWORK." "We are also pleased to have a client with such a diverse array of exciting new media business opportunities and on-going stream of Internet-related deals," said GLOBEX Executive Vice President Warren Hemedinger. "We look forward to a long and mutually productive strategic partnership with AXESS MEDIA." About GLOBEX The GLOBEX Financial Group (www.globexfg.com) is a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm which specializes in providing advice and assistance to early-stage companies for obtaining private and public financing, structuring mergers and acquisitions, and managing investor relations Investor relations The process by which the corporation communicates with its investors. . GLOBEX has recently concentrated its business development efforts on new media and health care industry sectors. About AXESS MEDIA San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and Las Vegas-based AXESS MEDIA Group is a publicly traded Internet content producer, comprised of a diverse array of business-to-business, business-to-government, business-to-consumer, and consumer-to-consumer value-added Web applications; all integrated into an independent online production network, known as the AXESS NETWORK. AXESS MEDIA (www.axmg.com) currently sports over 20 proprietary Internet content portals, as well as owning a domain estate with over 250 potential brands and products; ranging from online education, electronic voting Electronic voting (also known as e-voting) is a term encompassing several different types of voting, embracing both electronic means of casting a vote and electronic means of counting votes. , entertainment, charitable giving, and health care, to biotechnology, insurance, e-vault security, Internet radio Listening to audio broadcasts via the Internet. There are more than 4,000 broadcasts available on the Internet that can be streamed and played by a software media player in the computer or in a stand-alone Internet radio with the software built in. , music, art, film, online television production, travel, and children's programming; all targeted at personal or professional empowerment within large global vertical markets; and integrating specific tools or core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
One such tool, named Community Builder(TM), enables producers, suppliers, and consumers alike to share in the development of online franchise communities; whether in the fields of education, health care, music and entertainment, charitable giving, medical research, or electronic voting. The CB business model creates online Internet communities where teachers and students, doctors and nurses, entertainers and artists, even scientists and politicians become co-developers of various vertical market Cyber Centers. These cyber communities then serve the shared needs and interests of various individuals, groups, firms, companies and governmental entities on a worldwide basis. AXESS MEDIA's business plan calls for targeting over $150 billion in potential markets worldwide, but is focused on capturing between 1-2 percent within the largest uncompeted market segments. The company reports approximately 28 million issued and outstanding shares; of which 80 percent is held in restricted subsidiary asset accounts, and the rest closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. . The public float is approximately 2 million shares. AXMG has no short- or long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and its predecessor company's common stock traded as high as 9 1/4 per share before reorganization and trading under the AXMG symbol in June 2001. A corporate profile of the AXESS MEDIA Group and its public announcements can be obtained on an on-going basis at www.businesswire.com under "Company News Archives." Information may also be obtained on the Web at www.axmg.com, via email at info@axessmedia.com, or by toll-free phone at: 866/GO-AXESS. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: Included in this press release are AXESS MEDIA Group Ltd. forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to have been correct. |
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