MONA News MonArc Corporation (MONA) Begins Negotiations with...
Tuesday, September 9, 2008 5:15 PM
Scottrade.com
This email is compliments of Scottrade.com
News for 'MONA' - (MonArc Corporation (MONA) Begins Negotiations with Frankfurt Company to Spin-Off PP365.com and Innotrek)
BEIJING, Sept 09, 2008 /PRNewswire-FirstCall via COMTEX/ -- MonArc Corporation
www.monacorporation.com (Pink Sheets: MONA - News) is pleased to announce that
it has identified a Frankfurt based public company interested in acquiring both
the PP365.com and Innotrek subsidiaries from MonArc. Based on initial
negotiations, the spin-off will probably be structured as a sale of assets.
PP365.com is also pleased to announce that over a dozen gaming website operators
have expressed interest in an affiliate program to promote the Company's new
multi-player role playing fighting game. Some of these game operators include
well-known Chinese companies such as Shanda, PWRD, Smooth Yu Huaxia. These game
operators will receive a commission on all gaming revenue they generate by
linking players to PP365.com's gaming website.
In other Company news, management is pleased to announce that the transcript of
a recent interview by Trader's Nation can now be viewed on its corporate
website; www.monacorporation.com. The interview provides important analysis of
the Company's business model moving forward.
MonArc CEO, Mr Yong Chan advises; "This split-off opportunity has come a little
earlier than planned. We had anticipated that we would need to do a fair bit
more work before they would be ready to spin-off. However, the Frankfurt based
company is interested in acquiring them immediately.
"We feel it is prudent to take advantage of this opportunity, in order to free
up a significant amount of management resources to concentrate on larger, more
mature companies in line with our new business model.
"Additional news on this front will be forthcoming shortly".
Safe Harbor statement under the Private Securities Litigation Reform Act of
1995: Certain forward information contained in this release contains
forward-looking statements that involve risk and uncertainties, including but
not limited to, those relating to development and expansion activities, domestic
and global conditions, and market competition.
CONTACT: corporate@monacorporation.com
CONTACT: corporate@monacorporation.com
SOURCE MonArc Corporation (MONA)
www.prnewswire.com
Copyright (C) 2008 PR Newswire. All rights reserved
-0-
INDUSTRY KEYWORD: OTC
SUBJECT CODE: PDT
JVN
Source: Comtext Market News
News 
Market Data 
Discover 
