alexindef right on top of MONA news first:
Posted by: alexindef Date: Tuesday, August 05, 2008 1:40:50 PM
In reply to: None Post # of 38283
MONA
Tuesday, August 05 2008 1:28 PM, EST MonArc (MONA) To Issue $ 3 - 5 Millions Dollars a New Class Of Dividends From Its North American Operations Spin Off PR Newswire "US Press Releases "
BEIJING , Aug. 5 /PRNewswire-FirstCall/ - MonArc Corporation , www.monacorporation.com, (Pink Sheets: MONA - News) Pp365 on line game developer (Operating Subsidiary of MONA) is pleased to update its shareholders and followers that it has reached a tentative agreement with a purchaser to accept stock in lieu of cash for the sale of its North American division.
MONA CEO Mr.Yong said "This will be a 2nd dividend issued this year by us. The purchaser is a USA based company in the business of direct mail marketing and similar business. This deal has been in the works for quite some time, and the proceeds will be split between those shareholders on record as of February 1 2008 and the current ones, with a pay date to be announced shortly. Ideally as a growing company we are advised to retain these proceeds and grow our business; however with the security laws in China and some existing agreements already in force it was decided that the payout to our shareholders would be the best route. We plan on making additional filings on this transaction on Pink Sheets shortly"
About MonArc:
China based operating subsidiary, PP365.Com offers industry leading peer to peer technology. PP365 mission is to deliver diverse media content to consumers through its low cost website subscription system enabling them to view the media content that they choose, whenever they would like to see it. The company&aposs cutting-edge technology peer to peer networking streams full-screen media content, 3D games and Internet based games directly to consumers, while implementing security measures to combat the threat of piracy. Subscribing customers of PP365 service will have access to an extensive library of quality full-screen movies and other programming without the hassles of going to the video store or mailbox, nor the added expense of late fees.
Safe Harbor Statement
Information in this press release may contain &aposforward-looking statements&apos. Statements describing objectives or goals or the Company&aposs future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the &aposSafe Harbor&apos provisions of the United States Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, risks relating to the ability to close transactions being contemplated, risks related to sales, continued acceptance of Mon Arc Corporation&aposs products, increased levels of competition, technological changes, dependence on intellectual property rights and other risks detailed from time to time in Mon Arc Corporation periodic reports filed with the regulatory authorities.
CONTACT: corporate@monarccorporation.com, Tel: (702) 508-4172, Att: Ian Bayley, or Mark Hamilton, Investor Relations
CONTACT: corporate@monarccorporation.com, Tel: (702) 508-4172, Att: Ian Bayley, or Mark Hamilton, Investor Relations
SOURCE MonArc Corporation (MONA)
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