Full Press Release Details
Inc. and New Motion, Inc. Complete Acquisition and Close on $6,500,000 in
CA -- (BUSINESS WIRE) -- MPLC, Inc. ("MPLC") (OTCBB:MPNC- News) and New Motion
("New Motion") jointly announce the completion of the acquisition of all of the
outstanding securities of New Motion, with New Motion becoming a wholly-owned
subsidiary and the sole operations of MPLC.; and the closing on a private
placement for gross proceeds of $6,500,000, each as previously announced.
appointed CEO of MPLC, Burton Katz commented, "We are extremely excited about
the completion of the transaction with MPLC. It's been a long road to get
this point, but one we believe will be particularly rewarding for all of
core constituents - shareholders, team members and customers.
Morris Harris, Inc. acted as advisor to New Motion, Inc. on both the merger
negotiation and the $6,500,000 Private Placement. Please contact Dean Oakey
(213-253-22820 in our Los Angeles office for more information.
Motion, Inc. (www.newmotioninc.com),
in Irvine, CA, is a direct-to-consumer mobile content provider. It develops,
licenses, markets, and sells binary content such as polyphonic ring tones,
"true tones" and voice tones, wallpapers and graphics, WAP, video and Java
games. Through its consumer portal, www.MobileSidewalk.com,
goal is to be the marketplace for consumers to find and purchase all their
mobile content. With over 750,000 customers served, it is one of the fastest
growing mobile content companies in the United States.
press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, about MPLC. Forward-looking
statements are statements that are not historical facts. Such forward-looking
statements, based upon the current beliefs and expectations of MPLC's
management, are subject to risks and uncertainties, which could cause actual
results to differ from the forward looking statements. The following factors,
among others, could cause actual results to differ from those set forth in
forward-looking statements: changing interpretations of generally accepted
accounting principles; continued compliance with government regulations;
legislation or regulatory environments, requirements or changes adversely
affecting the businesses in which New Motion engaged; demand for the products
and services that New Motion provides, general economic conditions; geopolitical
events and regulatory changes, as well as other relevant risks detailed in
MPLC's filings with the Securities and Exchange Commission. The information
forth herein should be read in light of such risks. MPLC assumes no obligation
to update the information contained in this press release.