PNEC and MXNT Joint Venture Release.
(COMTEX) B: Maxnet - MXNT Announces Plan to Create Three Divisions
B: Maxnet - MXNT Announces Plan to Create Three Divisions
FREEHOLD, N.J., Jun 22, 1999 (BUSINESS WIRE via COMTEX) -- Maxnet,
Inc. (OTC BB:MXNT) New Jersey based MXNT announced today its plans to
create three distinctive divisions for MXNT 2000.
Michael Marsowicz, CIO for MXNT stated, "The WebPhoneBook.com division
would include a white and yellow pages along with web search and
directories such as: MaxLawyer, MaxDentist, MaxTravel,
ChiropractorSearch in addition to other MaxPlanet.com profit centers.
Thereby, combining advertising (banners, buttons, videos and Emercials)
listing services by zip codes, states, cities, and development of local
and state MaxPlanet satellite sites to carry local advertising, local
shopping centers as well as movie theatre and restaurant guides."
Additionally, M. Marsowicz, CIO for MXNT stated, "MXNT is also proud to
announce that its second division MaxPlanet Radio has a 'new look' as
of today on www.MaxPlanet.com."
MPR - MaxPlanet Radio in conjunction with MXNT's joint venture partner
Planet Entertainment (OTC BB:PNEC) created MaxPlanet Radio, Corp. (MPR,
Corp.) is currently a fifty-percent (50%) owned subsidiary of Maxnet,
Inc. - MXNT and a fifty-percent (50%) owned subsidiary of Planet
Entertainment, Corp. - PNEC (the "Parents") The terms of the Joint
Venture call for the parent companies of MaxPlanet Radio, Corp. to own
and operate The MaxPlanet Radio Network, an audio/video content
provider on the Internet for the listening and viewing of music, video,
interactive CD ROM's, and computer software. Furthermore, MPR, Corp.
plans to expand its growing MP3 and MP4 music database in order to
provide its Users with the opportunity to download and listen to
quality music products over the Internet. MaxPlanet Radio, Corp. plans
to operate through 4 divisions, its Internet Radio/Jukebox Division,
its Advertisement/Shows Division, its MP3 & MP4 downloads/ New Artists
Division - and its CD Compilation Division. MPR, Corp. will be seeking
its initial advertising revenues from Retail Stores and Record Labels
(Major & Independent).
MXNT's third division consists of the online auction
www.MaximAuction.com which began operating in its Beta Test format on
April 15,1999. MXNT is presently testing the integration of OpenSite
software in order to prepare for the Official Launch of MaxPlanet.com's
www.MaximAuction.com.
Additionally, MXNT announced today through VP, I. Goldreich, "That the
Company's Registration Statements on Form 10SB are in the process of
being completed so that the Company can apply to become fully reporting
under the Securities Exchange Act of 1934, as amended. This is a
necessary prelude to MXNT's growth plans for the next millennium."
Maxnet, Inc. is an integrated Internet Development Company focused on
creating and expanding strategic alliances for its comprehensive
network of consumer and business-oriented web services with offices in
New Jersey and Florida. The Company, Maxnet, Inc. - MXNT releases
information over the public news wire services. Any information that is
disseminated by other methods other than by Official Company Release is
not from Maxnet, Inc. - MXNT. For further information on Maxnet, visit
their websites:
maxplanet.comhttp://www.maxplanet.com/maxauction
maxplanet.com mxnt.com
maxplanet.com Maxnet, Inc., MXNT is
currently changing its name to reflect its new diversified Internet
marketing business.
Certain of the statements included in this press release constitute
forward-looking statements within the meaning of Section 27A of the
Securities Exchange Act of 1934, as amended. The Company notes that a
variety of factors could cause the Company's actual results and
experience to differ materially from those expressed in these
forward-looking statements. This release may contain forward-looking
statements, made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995, that involve risks
and uncertainties, which might cause the actual results to differ
materially from those projected in any forward-looking statements.
Factors which could affect results include the development and
introduction of competitive technologies, the market awareness and
acceptance of the Maxnet technologies, the overall market demand for
internet services, the presence of technologically inferior products
and services which are priced or promoted to compete with Maxnet
services, the ability to attract and retain technical personnel, and
the ability of the Company to protect its proprietary information.
Copyright (C) 1999 Business Wire. All rights reserved.
-0-
CONTACT: Planet Entertainment Corporation, Middletown, N.J.
Wallace M. Giakas, Chairman, 732/530-8819
or
Maxnet Inc., Freehold
I. Goldreich, Vice President, 732/625-0770
WEB PAGE: businesswire.com
GEOGRAPHY: NEW JERSEY
INDUSTRY CODE: COMED
INTERACTIVE/MULTIMEDIA/INTERNET
ENTERTAINMENT
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