MediaG3 (MDGC)

[tradernation]

MediaG3 Propels Strong Growth in 2009 and Beyond
Tuesday December 9, 2008, 9:00 am EST
Yahoo! Buzz Print
SAN JOSE, Calif.--(BUSINESS WIRE)--MediaG3, Inc. (OTCBB: MDGC - News), a leading developer for broadband wireless product and interactive rich-media content delivery applications, today released an open letter from the CEO summarizing the company’s achievements in 2008, and projecting strong growth in 2009 and beyond.

“2008 has been a volatile year for all of us. Some projects were delayed and the customer decision cycle is longer,” said William Yuan, MediaG3’s Chairman and CEO. “However, difficult times and economic crises also create opportunities for us, as we adjust and position the company in the right market space and diligently execute the right vision and strategies.

“US technology and the China market have been MediaG3’s key strategy from the very beginning. While no country is immune to the downward economic climate, China still enjoyed over 8% growth. MediaG3’s business development made significant progress in the China market. MediaG3 initiated a broadband wireless connectivity project for over 900 million Chinese people residing in the rural and interior regions. The project has been approved by China Ministry of Commerce and State Administration of Radio, Film and Television. The pilot project is also funded by the US Trade and Development, which did extensive due diligence on us and found in favor of our technology, market feasibility and growth potential. The commercialization of this rural broadband wireless coverage in China means billion dollar business to MediaG3 with just 10% of market penetration,” continued Mr. Yuan.

“We are actively working with other Asian partners to provide our broadband wireless systems to support their WiMax and other telecommunication networks. Several sizable business partnerships are in discussions. These partnerships may bring upward of $20 million business for MediaG3. We will report our progress and achievements in the near future,” Mr. Yuan explained.

“MediaG3’s digital content delivery business has signed up long term service contracts with several Fortune 1000 companies in China. We also package and offer our content delivery services with our broadband wireless systems to gain more competitive edge and provide additional application features and benefits as well as generating incremental revenue, which is projected to be $2 million in 2009.”

“2009 will be a much better year for MediaG3 with significant growth. Our Q1 2009 revenue is expected to reach $1.5 million, or an 800% increase compared with Q1 2008. We believe the market will respond and reflect the real value of our company. We are also in planning to catch up the financial audit and filing, and our goal is to be listed in one of the major exchange boards as soon as we meet the requirements. There are many exciting business deals at work, and we believe they will produce excellent results for us in 2009 and beyond,” added Yuan.