Mobile Multimedia Productions, Inc -MMMP- Announces 10% Ownership Position in Newly Structured MUSA Race Series, Inc. With an Option to Purchase an Additional 25%.Business Editors TORONTO--(BUSINESS WIRE)--Dec. 13, 2000 MMMP MMMP Melanoma Molecular Map Project MMMP Manufacturer's MANPRINT Management Plan MMMP Molecular Mechanisms in Microbial Pathogenesis MMMP Medieval Media & Motion Pictures Intends To Issue Convertible Debentures Convertible Debenture Any type of debenture that can be converted into some other security. Notes: For example, a convertible bond can be converted into stock. To Raise Up To One Million Dollars In Support Of Upcoming Marketing Initiatives In The First Quarter of 2001 Mobile Multimedia Productions, Inc. (Non-Reporting BB: MMMP) today announced new financial initiatives designed to maximize the company's growth. The company has formalized for·mal·ize tr.v. for·mal·ized, for·mal·iz·ing, for·mal·iz·es 1. To give a definite form or shape to. 2. a. To make formal. b. its 10% ownership in MUSA Race Series, Inc. with an option to acquire an additional ownership interest at a future, unspecified date, that could bring Mobile Multimedia Production's equity interest up to 35%. To support upcoming marketing initiatives for its entertainment extravaganzas, including the MUSA Race Series, the company intends to raise up to one million dollars through convertible debentures. MUSA Race Series, Inc., formerly known as MUSA, Inc. was recently restructured by a group of private investors. "New investors in MUSA Race Series, Inc. have accelerated the growth of the new sport of 1/5 scale stock car racing
Stock car racing is a form of automobile racing found mainly in the United States and Great Britain held largely on oval rings of between approximately a quarter-mile and 2. in the U.S." said Mr. Grant Gee, President and Chief Executive Officer of Mobile Multimedia Productions, Inc; (MMMP.) "This has prompted MMMP to formalize its 10% ownership position in MUSA Race Series," continued Mr. Gee. In the first quarter of next year, MUSA Race Series Inc. intends to launch two "prototype" 1/5 scale racing clubs in the Detroit market area for prospective corporate sponsors, club owners, and stock car racing enthusiasts. The company plans to rollout these clubs across the U.S. in the second half of 2001. The MUSA Race Series features 1/5 scale, remote controlled stock cars designed and built in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The cars will race on specially designed tracks set up in large outdoor staging areas. This interactive racing experience will provide an all day family entertainment "extravaganza" and will feature sponsor driven promotions, and will support community outreach initiatives. MUSA expects to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the growing popularity of NASCAR NASCAR (National Association for Stock Car Auto Racing), organization that sanctions American stock-car races, est. 1948. It held its first race in Daytona Beach, Fla. through design and production of 1/5 scale vehicles that are nearly identical to full-sized stock cars. These cars are approximately three feet long with the chassis constructed of 4160 Chrome-Moly steel tubes. Remote controlled and governed for safety, they are powered by a 23cc two-stroke gas engine and can reach speeds of up to 60 mph. The bodies are molded in Lexan to provide authentic appearance and durability. The cars use disk brakes and have all the chassis adjustments of full-sized racecars. These small racecars make it possible for hundreds of thousands of enthusiasts of all ages to participate in stock car racing at a fraction of the cost of full-size racing, and in complete safety. Mobile Multimedia Productions based in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Toronto, is a sports and entertainment-marketing company with interests in 1/5 scale stock car racing as well as other entertainment extravaganzas. Statements in this press release that are not strictly historical, including statements regarding plans, objective and future financial performance, are "forward-looking" statements that are made pursuant to the 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. provisions of 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. Although Mobile Multimedia Production, Inc. believes that the expectations reflected in such 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. are reasonable; no assurance can be given that the expectations will prove to be correct. Factors that could cause actual results to differ materially from Mobile Multimedia Productions expectations include, among others, the existence of demand for and acceptance of its business plan, the availability of appropriate candidates for acquisition, regulatory approvals, economic conditions, the impact of competition and pricing, financing efforts and other factors described in Mobile Multimedia Productions offering materials for investment in its securities that may be filed with the Securities and Exchange Commission and other state regulatory authorities. |
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