LOS ANGELES, CA, Jan 07, 2010 (MARKETWIRE via COMTEX) -- (PINKSHEETS: MIKP) --
Serve Nation, a multi-dimensional charitable giving entity with a foundation in
gift card sales, has been acquired by Mike the Pike Productions, Inc. for an
undisclosed amount. The purchase was made in a combination of cash and financing
by the previous owner(s) over the course of 18 months and includes all
Intellectual Property, domains, client and prospect lists, members, customers
and subscribers. Any and all liabilities were not inherited by MTP and will
remain with the previous owner(s). The acquisition is something the company is
very pleased with as "it's a perfect fit with MTP's 'Pay it Forward' mentality
while adding to our overall asset base and revenue streams for shareholders,"
states MTP CEO, Mark B. Newbauer.
It's also a compelling addition to MTP's New Media division which was announced
earlier this week. "The potential here is enormous," Newbauer continues. "We
have an existing loyal customer base and a list of prospects and opportunities
under negotiation, as adopted under the purchase agreement. That said, we feel
that the business model is yet to receive the attention, consistency and
diligence it deserves to position it for an attractive buyout if not a permanent
profitable fixture in MTP's New Media portfolio. For now, our goal is to build
the business; plain and simple. We are currently forming a 501c3 Non-Profit
entity which will be utilized to purchase the gift cards at a discount to
service the business model." Currently, ServeNation has relationships in place
to fulfill this need somewhat seamlessly; however, in order to maximize its
potential, MTP is currently overhauling the website/online business model and
re-organizing initiatives and strategies.
Shareholders will be updated regularly on this process including the selection
of a capable CEO with strategic relationships and business upgrades including
technology/mobile application technology and tie-ins.
Want to know more about MTP? Go to: www.mikethepikeprods.com
MTP productions can be followed on Twitter @MTPPRODS
Safe Harbor: This release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Statements
contained in this release that are not historical facts may be deemed to be
forward-looking statements. Investors are cautioned that forward-looking
statements are inherently uncertain. Actual performance and results may differ
materially from that projected or suggested herein due to certain risks and
uncertainties including, without limitation, ability to obtain financing and
regulatory and shareholder approvals for anticipated actions.
"Nothing is impossible EXCEPT the happiness of some people!!"
