Yea, this entire Framepool acquisition sounds phony right?
LOL
This is all just a share selling SCAM
RIIIIIIIIIIIIIIIGHT ?????
IRVINE, CA, Nov. 29, 2016 /PRNewswire/ - Emaji, Inc. (OTC: EMJI) ("Emaji" or the "Company") today announced the acquisition of 86.6 percent of the outstanding shares of Framepool AG (www.framepool.com), a leading distributor of stock footage with headquarters in Munich, Germany, and the Company's entrance into the $2.5 billion stock footage and photography marketplace.
Framepool collects, selects and prepares high quality video footage from TV, movie or commercial film producers and sells licenses to its growing library of over one million clips, one of the world's largest, to its 3,500 active customers, among them the most prominent advertising agencies, broadcasters, film studios and production companies. It also provides rights clearance and indemnification services, has commenced providing production services for footage intensive documentaries and is moving into the licensing of stock photography.
Framepool has three operating subsidiaries in the United States, the United Kingdom and France and a headcount of 19 full-time and 8 part-time employees. In addition to Munich, Framepool has staff in Los Angeles, New York, London and Paris. The company's online presence ranks in the top 60,000 websites worldwide and has nearly a million monthly page views.
Emaji will consolidate Framepool's financials from the fourth quarter of 2016.
The acquisition was financed through a combination of cash and non-convertible debt. As part of the transaction, Emaji has committed to providing significant additional capital to Framepool going forward.
This acquisition represents the initial step towards the execution of a global growth strategy. Additional steps are currently in negotiation.
Emaji had previously released that it is currently seeking approval from Finra to complete its intended name and symbol change. The Company anticipates completing this process in December 2016.
