Guard Dog Inc. Announces Terms of Acquisition of 15 Seconds of Fame Inc.
The Chief Executive Officer of Guard Dog Inc. (Pink Sheets: GRDO), (“Guard”) John Bonaccorso announced today the details of the acquisition of its new wholly owned subsidiary, 15 Seconds of Fame Inc. (“15SOF”) (www.15sof.com) completed June 2, 2011.
Guard Dog Inc. entered into an agreement to acquire all of the outstanding shares of 15 Seconds in exchange for approximately 3,650,000,000 shares of Guard Dog Inc. The Company increased its authorized shares to 6,000,000,000 to accomplish this merger and acquisition by filing with the State of Nevada its Articles of Amendment on June 15, 2011.
In conjunction with the acquisition, the Company accepted the resignation of all of the members of the Board of Directors and appointment of John Bonaccorso as the Company’s new CEO and President. Mr. Bonaccorso purchased a controlling interest in the common stock of the Company from the Company’s prior CEO, James Watson pursuant to an agreement dated June 2, 2011. In addition, new members of the Board were appointed as previously disclosed in our June 9, 2011 Press Release.
The Company has determined that it will not continue to pursue the previous business model of Guard Dog Inc., including Identify Theft Protection. The company will focus primarily to grow and expand 15SOF and its business model.
15 Seconds of Fame Inc. (15SOF) business model is to provide an active and entertaining experience for aspiring stars and those who enjoy discovering great talent, as well as funny and unique contests. 15SOF makes it easy for their Entry to be uploaded and posted to the 15SOF site, Facebook, Twitter and almost 300 other social media sites around the world to encourage all of their friends and fans to view, vote and comment. This in turn creates page views. Because 15SOF limits the length of videos to 15 seconds, the result is many more page views per user per visit than virtually any website we are aware of on the Internet. The Company can hold hundreds of simultaneous contests each day and thousands each year. Revenues are earned on advertising, sponsorships and social media games, with mobile application revenue expected in the near future.
The Guard Dog Inc. website (15sof.com) may include forward-looking statements related to Guard Dog Inc. that involve risk and uncertainties, including, but not limited to, member services, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect Guard Dog Inc. results, please refer to the Company's filings with the OTCMARKETS. Prospective investors and shareholders are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
