part one: 247MGI, Inc. and PurFusion to Enter Into Definitive Agreement
FT. LAUDERDALE, Fla., May 30, 2007 (PRIME NEWSWIRE) -- 247MGI, Inc.
("247MGI") (Pink Sheets:TOFS) announced today that it is entering into a Definitive Agreement with PurFusion Worldwide, Inc. (www.purfusion.com).
247MGI and PurFusion will be entering into the Definitive Agreement within the next week. The closing will take place once PurFusion has completed its audit, during the same time 247MGI shall work to complete its annual report and first quarter Q. 247MGI anticipates being able to file the delinquent reports and the 8k filing of the completed transaction with PurFusion by the end of June. PurFusion projects revenue of $1 million in 07, $5 million in 08 and $8 million in 09.
Once the transaction is complete Norman Farrar of PurFusion shall take over as the new President and CEO and will add additional members to the board. 247MGI shall also take steps to change the name of the company to PurFusion and seek a new symbol.
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