TOFS Issues Clarification:
(Pink Sheets: TOFS) (247MGI) soon to be known as Baron Capital Enterprises, Inc. , (www.baroncapitalenterprise.com) would like to clarify yesterdays press release and apologizes for any confusion.
247MGI entered into a stock purchase agreement with another public company and sold back to them a large block of their stock. By selling them back the stock for $200,000 , not only does this generate revenue for 247MGI, but will also realize a profit on the transaction. This will allow the other public company to complete their own reverse merger with a private company.
247MGI owns aged debt, some as old as 2 years which the company plans on converting after the merger and selling in the market to further increase revenue for the last quarter of 2011. 247MGI will be entering into an agreement with the new company once the merger is complete to assist with funding which will be a long term project, increasing revenues for 2012.
Once the other public company is able to release any news regarding their transaction they will include the symbol for 247MGI.
This is part of 247MGI overall operations, which is to purchase 3rd party debt and invest directly into companies with the goal of converting that debt to equity at a discount then selling it to generate revenue.
When the financials are released, 247MGI will show a sizable amount of convertible debt it currently owns which it will convert and sell over the next 12 months realizing a multiple of 10-20 times the amount of debt owned.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as believes, expects, potential, plans, suggests, may, should, could, intends, or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
247MGI, Inc. Matt Dwyer , 954-623-3209 President matt@bcapent.com
Source: 247MGI, Inc.
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