QED Connect Inc (QEDN)

[MGtripleOG]

january 7th is 60 days from this PR, so that would be a good target date.

The merger is expected to close within the next 60 days.


QED Connect Inc. Signs of Letter of Intent for Merger

MANCHESTER, NH -- (Marketwire) -- 11/09/09 -- QED Connect Inc. ("QED Connect") (PINKSHEETS: QEDN), an innovative, software-as-a-service (SaaS) provider for the information security market, today announced that the company has signed a Letter of Intent (LOI) to merge with Southeastern Retail Services, Inc., d/b/a "ProRemote Solutions" ("ProRemote Solutions").




ProRemote Solutions, www.proremotesolutions.com, is a manufacturer of innovative, home-based technology solutions for the Home Theatre Industry.

The company provides a value proposition of proprietary, single source remote control solutions integrating audio & video media servers along with remote monitoring, security and lighting systems in a single remote control unit. ProRemote also offers stand alone home theater products. ProRemote Solutions is headquartered in Marietta, GA.





Tom Makmann, President of QED, commented, "By joining with ProRemote Solutions, QED Connect is expanding its technology solutions into an exciting new market place that is expected to achieve high growth. The home control systems market is expected to be over $4 billion next year and media server market is estimated to hit $5.5 billion in the next few years (per Parks and Associates and The Forrester Group)."



Due to the economic environment over the past several years, QED Connect was unable to raise the required capital it expected to obtain and unable to generate sufficient revenues to support the organization and subsequently had to downsize. Management expects that the proposed merger will provide an additional revenue and capital financing opportunities.




The merger is expected to close within the next 60 days.


QED also announced that it has completed the filings as required by Pink Sheets to be listed as PS Current.




Come view the product video: http://vidego.multicastmedia.com/player.php?p=o1d1ti4d