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Monday, June 02, 2008 8:10:45 AM
In other company updates, Winters added "We are being asked about IFGX and Cash Next (the existing assets of MONA). They will be mothballed. We will actively look for a buyer for these assets, however right now, we are focused on closing this new China merger only. The purchase price will involve cash and stock. This is a good size China based company with a South Korean connection. They are in a technology based mass distribution industry, ranked # 5 from top 50 players in their industry and a very serious contender.
We believe that this is the type of merger MONA shareholders have been looking for, and a type of merger with a potential to give our share price some serious lift, and upward momentum.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
SOURCE MonArc Corporation (MONA)
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