eWorld Companies Rejects Purchase Offer, Schedules Conference Call for Shareholders
September 30 2009 - 3:34PM
Marketwired
eWorld Companies, Inc. (PINKSHEETS: EWRC) has rejected an offer
from Level Vision Electronics, Ltd. to purchase all outstanding
shares of eWorld stock for 1.9 cents per share. The offer had been
tentatively accepted by eWorld's Board of Directors pending
completion of due diligence and counsel approval. However, the
offer as it currently stands failed to garner the approval of
either the company's counsel or its preferred shareholders and has
been rejected. The company has also scheduled a shareholder
conference call with Chairman and CEO Henning Morales and its
Securities Counsel for Friday, October 2 at 9:30 AM PDT. Call-in
information will be posted on eWorld's website and on the Boomerang
Media Station(TM).
Mr. Morales commented, "This decision is by no means a negative
comment on Level Vision Electronics. We believe the offer was very
real and attractive; however it does not adequately address the
needs of the company's shareholders. This is not the first time we
have been approached about a buyout offer and we don't expect it to
be the last. eWorld is not actively seeking a buyout; however, the
company will always consider reasonable offers, whether from Level
Vision or from other suitors."
ABOUT EWORLD COMPANIES, INC.
eWorld Companies, Inc. markets and distributes cutting edge
Internet technologies including its patent-pending Boomerang Media
Station(TM), a free Internet application that features exclusive
and third-party movies, music videos, webcasts and other streaming
video content delivered via its unique state-of-the-art broadcast
quality video player. eWorld has recently released Boomerang v4.0;
begun marketing a Private Label Boomerang for profit and non-profit
organizations; launched its eWorldMix Social Network and started
accepting submissions for the 2nd annual eWorld Music Awards, all
part of a coordinated plan for reaching initial goals of one to two
million Boomerang downloads and $1,000,000+ monthly gross profits
by early 2010. For more information visit
www.eworldcompanies.com.
Safe Harbor Statement: This release contains forward-looking
statements with respect to the results of operations and business
of eWorld Companies, Inc., which involves risks and uncertainties.
The Company's actual results could materially differ from those
discussed. eWorld intends that statements about the Company's
future expectations, including revenues, earnings, and all other
forward-looking statements be subject to the "Safe Harbors"
provision of the Private Securities Litigation Reform Act of
1995.
Contact: Henning Morales, CEO (310) 471-7674
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