News AGAIN!!! Monday July 19, 9:02 am Eastern Time
World Wide Collectibles Inc (OTC Bulletin Board: WWCI ) Signs Letter of Intent to Acquire 100% of Cinema Research Corporation
LAS VEGAS, July 19 /PRNewswire/ -- World Wide Collectibles Inc. (OTC Bulletin Board: WWCI - news) announced today that is has signed a letter of intent to acquire 100% of the shares outstanding of Cinema Research Corporation from American International Industries Inc. (OTC Bulletin Board: EDII - news) in an exchange of cash and restricted shares. Further, Cinema Research Corporation has the right to acquire from American International Inc., a contract to purchase all the assets of Pacific Title/Mirage Studios, which is Cinema Research Corporation's largest competitor in its field.
The optical title special effects and the scan and record operations of Pacific Title is the largest provider of those services to the major Hollywood studios. Pacific Title was founded 80 years ago and has most recently worked on the special effects for ''Star Wars Episode I'' and ''The Mummy.'' It is also one of the firms to own a Kodak Lighting 2 laser film recorder which is coveted technology in the area of film restoration. Cinema Research has over 54 years in the industry and has enjoyed the number two ranking. It is expected that consolidating the operations and support infrastructure of the combined companies will yield significant synergies and economics.
This acquisition will firmly establish Pacific Title/Cinema Research as the strongest player in its industry. The management team led by Phil Feiner and Dave Miller are the world's foremost experts in their field.
World Wide's vision is to build a media communication company in the entertainment field. The company has filed with the State of Nevada and NASD for a change of its name from World Wide Collectibles Inc. to World Wide Net, Inc.
This release may contain forward-looking statements that involve risks and uncertainties, including without limitations continued acceptance of the companies' products and services, increased levels of competition, new products and technology changes, the companies' dependence on financing, third party suppliers and intellectual property rights and other risks detailed from time to time in the companies' federal filing, annual reports, offering memorandum or prospectus. |
