Design Marketing Concepts to Acquire WEB Pay-Per-View Inc.Business Editors/High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--May 29, 2001 Design Marketing Concepts Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : DSMC DSMC Direct Simulation Monte Carlo DSMC Defense Systems Management College DSMC Data and Safety Monitoring Committee DSMC Division-Support Medical Company DSMC Data Services Management Center (US NASA) ) Tuesday announced the signing of a definitive agreement to acquire WEB Pay-Per-View Inc., a producer and distributor of pay-per-view video programming. The transaction is intended to be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . The transaction is expected to be completed immediately. Under the terms of the agreement, Design Marketing Concepts will issue 18,615,543 shares of Design Marketing Concepts common stock in exchange for all of the issued and outstanding shares of WEB Pay-Per-View (at a ratio of 1 to 1). The shares to be issued will not be registered under the Securities Act of 1933 and will fall under the regulations of Rule 144 of the Securities and Exchange Commission. "WEB Pay-Per-View is a public company!" exclaimed Derreck Manteau man·teau n. pl. man·teaus or man·teaux A loose cloak or mantle. [French, from Old French mantel; see mantle.] , co-founder and chief executive officer of WEB Pay-Per-View. "By leveraging Design Marketing Concepts status as a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. we will continue to further our efforts to expand and procure our business and increase shareholder value. "Together with Design Marketing Concepts we will level the playing field for all investors through full and timely disclosure of material information." Sameer Hirji, chief executive officer of Design Marketing Concepts Inc. commented, "A new slate of officers, a new management team and a new board of directors of the public entity is expected to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. shortly." About WEB Pay-Per-View Inc. WEB Pay-Per-View Inc. is a producer and distributor of video programming which intends to distribute video content via network, cable and satellite television and through broadband Internet networks on a retail pay-per-view basis. WEB Pay-Per-View will use exiting technology gained through funding and marketing partnerships to achieve its goal of allowing subscribers to view the video programming of their choice in real time, anytime they want, on their computer or television. "Safe-harbor" statement: Certain statements in this news release are intended to be "forward-looking" statements as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, risks of technology or product obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , competitive risks, reliance on development partners and the need for additional capital. The company cautions investors that its business and financial performance are subject to substantial risks and uncertainties. |
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