SuperVision Entertainment Inc.: (TICKER SYMBOL: SVET): SuperVision Update: SuperVision Makes Bid for Takeover of GameZnFlix (TICKER: GZFX) for $100 Million Pro Video Gamers League
LOS ANGELES, CA -- (MARKET WIRE) -- May 14, 2007 -- SuperVision Entertainment Inc. (PINKSHEETS: SVET) -- On May 11th, 2007, an unsolicited letter was sent to the President, Directors and shareholders of GameZnFlix (Ticker Symbol: GZFX) expressing to a desire by SuperVision for GZFX to become a wholly owned subsidiary of SuperVision either through a negotiated process or, failing that through a possible "hostile takeover."
GameZnFlix is involved in video game rentals and VOD, and owns two television stations. SuperVision is interested in acquiring a controlling interest in GZFX to house its World Professional Gamers League (WPGL.TV), which is almost ready to be launched. The WPGL web site, which is almost ready to go live, should be active within a few weeks after some in-house testing.
WPGL offers anyone over the age of 12 (with parental consent) an opportunity to become a professional player competing for $10,000,000 in cash and prizes. The WPGL is structured so that it is based around an international television show and an international franchise, providing an excellent format for game manufacturers, players and advertisers. Professional game players will be able to seek sponsorships just as professional tennis and golf players do. If membership goals are reached, it could mean in excess of $100 million per year for SuperVision and GZFX.
On other fronts, SuperVision continues the development of the amazing SuperMag technology, which develops electricity from magnetic fields, and it is now expected that the first demonstration to approximately 5,000-7,000 engineers, investors, scientists and hedge funds, as well as the international press, will occur in late September/October 2007, subject to final in-house testing and organization of the event.
The SuperMag continues to amaze the people working on assembling it as the final production version takes shape.
Lastly, SuperVision has been contracted to produce the multimillion-dollar film about the rise of the new King of Canada and the United States, who, through an historical and constitutional legal issue and challenge, may in fact become the first true royal King of North America. It is a fascinating story and you heard it here first.
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All statements other than statements of historical fact included in this press release are "forward-looking statements." The forward-looking statements, including statements about the Company's future, revenues and earnings, and all other forward-looking statements (i.e. future operational results and sales) are subject to assumptions and beliefs based on current information known to the Company and are factors that are subject to uncertainties, risks and other influences which are outside the Company's control, and which may yield results differing materially and substantially from those anticipated. All information is subject to change, deletion or insertion.
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