HandHeld Entertainment Modifies Terms of Five-year Warrants
Ticker Symbol: U:ZVUE U:ZVUEW
SAN FRANCISCO -- (Business Wire) --
HandHeld Entertainment(TM) (NASDAQ: ZVUE, ZVUEW) today announced
automatic adjustment of the exercise price of its five-year $3.50
warrants became effective. The exercise price will be adjusted to
$2.80 per share effective March 16, 2007 as a result of certain
provisions agreed to at the time of issuance of the warrants. The
exercise price of the warrants will be reduced by an additional $0.35
for every 30-day period after March 15, 2007, that the company has not
obtained effectiveness of a registration statement covering resale of
the warrant and the shares of common stock underlying the warrant.
¶ About HandHeld Entertainment, Inc.
¶ HandHeld Entertainment is a digital-media-to-go company. Its
network of Web sites (Putfile.com(TM), YourDailyMedia.com(TM),
FunMansion.com(TM), Dorks.com(TM) and ZVUE.com(TM)) attracted more
than 13.7 million visitors in January 2007 to view both user-generated
and premium content. Its ZVUE(TM) personal media players are
mass-market priced and available for purchase online and in more than
2,000 Wal-Mart stores throughout the United States. HandHeld
Entertainment's common stock and warrants are traded on the NASDAQ
Capital Market (ZVUE, ZVUEW) and Boston Stock Market (HDE, HDEW),
respectively. For more information, visit www.hheld.com/ir or call
415-495-6470.
¶ HandHeld Entertainment, Putfile.com, YourDailyMedia.com,
FunMansion.com, Dorks.com, ZVUE.com and ZVUE are trademarks of
HandHeld Entertainment. All other trademarks are property of their
respective owners.
¶ "Safe Harbor" Statement Under the Private Securities Litigation
Reform Act of 1995
¶ This announcement contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, Section 21E of
the Securities Exchange Act of 1934, and within the meaning of the
Private Securities Litigation Reform Act of 1995. Actual results could
differ materially from those projected in the forward-looking
statements as a result of various factors including the ability of the
company to successfully commercialize its new technologies as well as
risk factors set forth from time to time in HandHeld Entertainment's
filings with the United States Securities and Exchange Commission,
including Annual Reports on Form 10-KSB, Quarterly Reports on Form
10-QSB and Current Reports on Form 8-K and other reports filed by the
company with the SEC. The company undertakes no obligation to publicly
release the result of any revisions to these forward-looking
statements, which may be made to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated events.
As a result, investors should not place undue reliance on these
forward-looking statements.
Contacts:
Media Contacts for HandHeld Entertainment:
Politis Communications
David Politis, 801-523-3730
Cell: 801-556-8184
dpolitis@politis.com
or
Jonathan Bacon, 801-523-3730
Cell: 801-660-7820
jbacon@politis.com
or
Investor Contact for HandHeld Entertainment:
The Del Mar Consulting Group, Inc.
Robert Prag, 858-794-9500
bprag@delmarconsulting.com