MediaG3 Propels Strong Growth in 2009 and Beyond
Santa Clara, CA, December 9, 2008 – MediaG3, Inc. (OTCBB: MDGC), 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.
For more complete MediaG3 news and events in 2008, please click on the following link: www.mediag3.com/news.html
About MediaG3, Inc.
MediaG3, Inc. develops and markets broadband wireless technology products and online applications that empower interactive content delivery to today's fixed and mobile consumers. With a well-defined business model of "U.S. Technologies, China Market," MediaG3 is developing its integrated business and product lines to offer the best solutions for broadband wireless infrastructures, online and mobile rich-media content delivery. MediaG3's three complementary products and applications, mg3 wireless, mg3 mobile and mg3 web 2.0, generate incremental revenue both independently and collectively. MediaG3 was formed in December 2005, and has two wholly owned subsidiaries in Shanghai China. MediaG3 is based in Santa Clara, California, with operations in Shanghai and Shenzhen, China. For more information on the company, please visit www.mediag3.com.
Forward-Looking Statements:
Forward-looking statements such as "believe," "expect," "May," "plan," "intend," "project", etc., contained herein are within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are based on the Company's beliefs and assumptions it made using information currently available to it and which reflect current views concerning those future events. Actual results could differ materially. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the volatility of trading markets, the Company's limited operating history, the inability to obtain additional capital, the Company's unproven business model, the risks of doing business in China, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.
