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CITC news>> The Children’s Internet Announces New Date For Proposed Annual Shareholder Meeting


2009-03-31 11:08 ET - News Release


GOLD RIVER, Calif. -- (Business Wire)

The Children’s Internet, Inc. (OTCBB:CITC) announced today that it has rescheduled its Annual Shareholder Meeting from March 27, 2009 to May 29, 2009. The meeting will be held at 9:00 a.m. at their corporate offices located at 2377 Gold Meadow Way, Gold River, CA 95670. The company is also making the meeting available via webinar for those who are unable to attend in person. A password is required to attend by webinar and is available by e-mailing the investor relations department at [e-mail].

Richard J. Lewis III, CEO of TCI, stated that “We have experienced delays in the scheduling of our Annual Shareholder Meeting because at the meeting, we will be asking the shareholders to vote on a restructuring of TCI, including having the Court ordered 14,040,988 Shadrack Films shares of TCI stock (which are currently held in escrow by TCI) disgorged back to TCI, so that TCI can then return such shares to its treasury as if never issued, and to also vote back into its treasury as if never issued another approximately 2 million shares of TCI stock that the company is currently seeking possession of in two different lawsuits, one in the U.S. Eastern District Court in Washington State and one in Washoe County, Nevada State Court.”

Mr. Lewis added that, “These last two lawsuits should be resolved quickly and favorably as I do not expect opposition to be filed in either case. Thus, at the Annual Shareholders Meeting I will be able to present to the TCI shareholders for their vote, the reduction of TCI’s outstanding shares from 33.37 million to less than 18 million. The reduced outstanding share base and increased market cap valuation will significantly enhance TCI’s ability to raise additional operating capital, while at the same time augment TCI’s corporate structure during its ongoing merger negotiations with The Children’s Internet Holding Company, LLC.”

About The Children’s Internet, Inc.:

The Children's Internet, Inc., http://www.thechildrensinternetinc.com is the exclusive marketer and distributor of The Children's Internet® membership based service created just for kids. The Children's Internet is the most comprehensive, secure Internet service and "educational super portal" for children, pre-school to junior high, providing them with SAFE, real time access to millions of the best pre-selected, pre-approved educational and entertaining web pages accessed through a kid-friendly search engine.

The Children's Internet provides kids with a rich array of easy to use applications, including secure e-mail, search engine, homework help, games, news, learning activities and virtually limitless educational resources all within its safe, protected online community that gives kids a sense of freedom and parents total peace of mind!

Awards won byThe Children's Internet®:

The Children's Internet® was declared winner of Outstanding Products of 2006 by iParenting Media Awards in the software category.

The Children's Internet® received the coveted National Parenting Center's Seal of Approval.

The Children's Internet® was ranked by PC Magazine as Editors' Choice in the category of "Kids' Browsers and Services" and declared the winner, rated #1 over AOL, MSN and EarthLink.

Forward-Looking Statements:

This press release may be deemed to contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements are made as of today's date and we do not undertake any obligation to update forward-looking statements. You can identify such statements by our use of such words as "should," "expect," "will," "intends," and similar words and phrases which denote future events and which may depend on the future performance of the Company. Specifically, these include statements as to future product releases, the implementation of strategic initiatives and the ownership in TCI upon completion of the transaction and whether or not the transaction will be consummated. Our assumptions underlying these statements are also "forward-looking" statements. Forward-looking statements are based on information and assumptions that are dynamic in nature and subject to rapid and sometimes abrupt changes. Our forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those stated or implied by the statements. Our forward-looking statements are also subject to important risks and uncertainties detailed in our latest reports filed with the SEC and available on its website at www.sec.gov.


Contacts:

For The Children’s Internet, Inc.
Trisha Wilkerson, 916-631-1987 (Investor Relations)
Fax: [phone]
[e-mail]

Source: The Children’s Internet, Inc.