I wonder how this effect NWWV's strength in the new market place;
TORONTO, June 6 PR;
New Wave Media Inc NWWV and Playstar Corporation PLYCF are very pleased to announce a dividend to its shareholders of post merger shareholdings of 20% or 20 shares for every 100 shares owned in a new corporation to be formed, funded and listed on a foreign exchange. This new corporation will utilize part of the Wagerphone and Playstar properties to market a new product in a new market place.[\b]
Today's PR;
The Company would like to disclose that due to the inability of the Company to continue to fund the operations of its Wagerphone subsidiary, it has been negotiated that the Wagerphone business will be operated and funded as a separate entity and that New Wave will retain an interest in this entity effective November 30, 2007.As a result, New Wave has cancelled its shares in Wagerphone in exchange for a pre determined amount of shares issued by Wagerphone to New Wave. The Company will provide an update on Wagerphone's developments shortly along with our percentage holding.[\b]
