MDCE ... Where Entertaiment and Education Embrace Message Board

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Microcap & Penny Stocks : MDCE ... Where Entertaiment and Education Embrace

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To: Rob D. who wrote (2891)	9/14/1999 3:39:00 PM
From: campe	Read Replies (1) of 3046

Can someone interpret this for me... what does it all mean now? Is this the news folks were expecting? Portion of Library was sold for $2.5M Gerry Berg resigned Merger with Golden Section rescinded biz.yahoo.com Tuesday September 14, 1:55 pm Eastern Time Company Press Release Media Concepts Inc. Announces Sale of Media Classics Inc. and Recision of Agreement with Golden Section Inc. SAN DIEGO--(BUSINESS WIRE)--Sept. 14, 1999--Media Concepts Inc. (OTCBB:MDCE - news) today announced the sale of Media Classics Inc. for $2.5 million in a combination of Preferred Stock and Common Stock. Although Media Concepts Inc. has sold Media Classics Inc. and its holdings, it has retained the most interesting and exciting portion of the library. ''The company will continue to seek new opportunities mainly through joint ventures to market our film library and Home Theater products,'' stated Erik Vidrio. ''We are seeking relationships to grow our business via companies that have sales and marketing via the Internet.'' In addition, the company announced that the acquisition of Golden Section Inc., a privately held California corporation doing business as a Multi-Media Showroom which was previously announced has been rescinded by mutual agreement of both parties. ''We feel that these events will help streamline the company by eliminating debt, reducing substantial costs and give us the ability to keep moving forward with key personnel still in place,'' stated Vidrio. Vidrio also stated that Mr. Berg has had to resign from his positions for personal reasons unrelated to the company and will continue to consult with the company as needed. We all wish Gerry well. Media Concepts Inc. is a diversified entertainment and media technology company that focuses on emerging technologies as they relate to media, entertainment and education. This release may contain forward-looking statements. Various factors could cause actual results to differ materially from those projected in forward-looking statements, including but not limited to the timing and development of emerging technologies. Although Media Concepts Inc. believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the expectations are correct. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement. Contact: Media Concepts Inc. Erik Vidrio, 619/824-1992

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