Digilava Merges With Digital Media Works.Business Editors/High Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--Dec. 11, 2002 Digilava, Inc. (OTCO OTCO Oregon Tilth Certified Organic (agriculture) : DGLV, formerly OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BAPC See BACP. ), today announced the execution of an exchange agreement whereby DGLV merges with Digital Media Works, Inc. ("Digital"). Digital is a California-based Direct Response Marketing Application Service Provider (ASP) providing enabling technology to its customers specializing in permission-based online direct response marketing and communications for enterprise streaming media See streaming audio, streaming video and digital media hub. content delivery via the Internet. The exchange agreement, which is subject to approval by SEC, contemplates the merger of Digital into the DGLV. Digital's management team, headed by 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. - Mr. Baldwin Yung, will take over management of DGLV following the merger. Completion of the transaction will result in their control ownership of the surviving company surviving company The company that emerges in control following a business combination. The surviving company is generally one of the firms entering the combination but may be a new company formed by the combination. being transferred to Digital' shareholders. Digital is currently in the process of finalizing its 2001 audit. Upon completion of the merger, the company's present management of Digital Media Works, Inc. will replace DGLV's management. Ms. Emma Wilson, Former President of BAPC and current shareholder of DGLV, stated, "We are excited about the merger with Digital Media Works. I believe that the merger is in the best interest of BAPC'S shareholders. We are confident that Digital will quickly rebuild the market value of DGLV." Mr. Baldwin Yung, President of DGLV & Digital, stated, "Our proprietary technology is expected to change the way companies promote, track and manage the sharing, licensing, and distribution of their digital assets. Given the phenomenal growth rate of content on the Web, and the ever-higher expectations for better media rich experiences, there is a tremendous opportunity for us to effectively connect the right content elements with the right customers. Digital's product and service solutions will drive new thinking about the way content is promoted and delivered to the customers. Our move to become a public company will allow us to substantially increase our revenue base though a global expansion of our products and services." For information about Digital's products click on to www.digitalmediaworks.com. For up to date corporate information about DGLV, contact Boaz Yung at 415-982-3458 (DGLV) or info@digilava.com Disclaimer (networking) disclaimer - Statement ritually appended to many Usenet postings (sometimes automatically, by the posting software) reiterating the fact (which should be obvious, but is easily forgotten) that the article reflects its author's opinions and not necessarily those of the : Statements, which are not historical facts, are 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. . The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company include, but not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , competition and other factors which may be identified from time to time in the Company's public announcements. |
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