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Brandmakers Sells ZOOM Communications Division and Restructures Debt.


Business Editors

SUWANEE, Ga.--(BUSINESS WIRE)--April 9, 2002

Other Divisions Profitable

Brandmakers Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
: BMKS) announces the sale of the assets of the ZOOM Communications Division to NTN NTN Narrative Television Network
NTN National Trends Network
NTN National Tenant Network
NTN National Trivia Network
NTN Network Terminal Number
NTN National Tax Number (Pakistan)
NTN Network to Network interface
 Communications, Inc. (AMEX AMEX

See: American Stock Exchange
:NTN).

In addition to the transfer of the division's assets and liabilities, Brandmakers receives $20,000 of restricted common shares of NTN Communications, Inc. We view the sale as a win-win activity relieving Brandmakers from the responsibility of continuing losses as well as significant liabilities and the division is a good fit for NTN. Russ Ford
    For the Australian field hockey player see Russell Ford (field hockey)
Russell William Ford (born April 25, 1883 in Brandon, Manitoba, Canada – died January 24, 1960 in Rockingham, NC) was a baseball pitcher during the dead-ball era of the
, President, and Sal Veni, Chief Operating Officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
 resigned their positions with Brandmakers to manage the division for NTN. "We wish them well along with all ZOOM Communications personnel," said Brandmakers CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  Geoff Williams Geoff Williams is a jazz drummer who has worked with Stan Getz, Bill McHenry, Phil Robson and others. He currently lives in London. .

Additionally, Brandmakers restructured the outstanding debt of $518,400 with Multi-Page Communications, reducing the note to $100,000 with $5,000 down and $95,000 amortized over five years at 9% interest with a balloon payment The final installment of a loan to be paid in an amount that is disproportionately larger than the regular installment.

When a loan is made, repayment of the principal, which is the amount of the loan, plus the interest that is owed on it, is divided into installments due at
 at the end of one year. The down payment and the first monthly payment have been made. "Multi-Page recognized our financial situation and we appreciate their cooperation. However, the full amount less payments will remain on the balance sheet until the final payment is made," advises Board of Directors member Bob Palmquist. "All payments must be made on a timely basis with a thirty day grace period."

"The Internet Division commenced renewal income through subscriptions to WebBox in the month of February, 2002 which will continue and be quite positive for cash flow," advises Palmquist. "February and March have been good cash flow months for the division and April is projected to provide solid income as well, which will help considerably with our financial situation."

"Gamosity, the games and vending division, delivered 100 Viavend dispensing machines in March and early April, 2002. Also, there has been a recent demand for a Phone Card-Sweepstakes dispensing machine with 30 machines delivered in March and an additional 45 machines being assembled for delivery in April. There are other orders pending as well and three cell phone machines were sold during the month of March," advises Williams.

This press release contains forward-looking statements relating to the sale of assets to NTN Communications, Inc. and expectations regarding the divisions, and other statements which are subject to various risks and uncertainties including competitive factors and the availability of capital to finance growth.
COPYRIGHT 2002 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Apr 9, 2002
Words:393
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