VSTR Valuesetters Acquires MAC Venture Group
White Plains, NY - InvestorsHub NewsWire - Valuesetters Inc. (OTC:VSTR) announced that it has acquired MAC Venture Group LLC (“MAC”) for a purchase price of $200,000. MAC will operate as a wholly owned subsidiary of Valuesetters.
Valuesetters’ Chief Executive Officer, Manny Teixeira, said, “MAC is an important acquisition for us. In conjunction with the deal, we acquire an experienced executive, Patrick Cahill, to lead our sales and business development efforts. MAC expects minimum annual revenues of $250,000, but Patrick’s goal is to reach $1 million in the first year.”
"No warrants, options or other convertible securities are outstanding at March 14, 2014."
The Company’s majority shareholder is also its principal lender. As of January 31, 2014 and April 30, 2013, the Company owed its majority shareholder, under a secured lending agreement, $90,897 and $69,254, respectively. The maximum amount of the loan is $250,000, and the loan is payable on demand. The majority shareholder of the Company owns 295,219,103 shares of common stock, or 59% of the 500,000,000 shares issued and outstanding.
Overview
We are an Internet-based company that intends to attract worldwide subscribers by providing consumers with digital games, videos, music, voice, texting and other clod-based applications. We seek both free subscribers and revenue-generating subscribers. For example, we allow subscribers to play games of chess for free and not receive rankings. We charge a fee to play the game against advanced players and to receive a ranking. We operate on an automated basis. We believe that Internet operations, customer sign-ups and game playing should occur without human intervention so that they can scale rapidly in the event the number of subscribers of the game begins to rapidly grow on a viral basis. We rely significantly on the programs we purchased, including the assets of NetGames.com, and we intend to acquire other Internet-based games and programs that can generate revenue with a minimum of personnel.
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