(BSNS WIRE) Media Concepts Inc.'s CEO Outlines 12-Month Strategy and Review
Media Concepts Inc.'s CEO Outlines 12-Month Strategy and Reviews Specific Goals
of the Corporation
Business Editors
TEMECULA, Calif.--(BUSINESS WIRE)--April 3, 2001--Media Concepts
Inc. (NQB pink sheets: MDCE) (OTCBB:MDCE) today recapped activity and
announced the company's 12 month strategy.
Erik Vidrio, chief executive officer of Media Concepts reviewed
company performance and laid out his plans for the HOMtheater.com Web
site, Top Box Media joint venture and Media Concepts, Inc's overall
plans in the next twelve months, which focus on returning to the
OTCBB.
"Upon the arrival of our new management team at Media Concepts, I
established three objectives which I believe we have successfully
achieved," stated Vidrio. "The first was to introduce a new business
plan into the company based on the specialized home theater, home
automation market. The second was to design, program and implement an
e-commerce Web site based on pre-connected home theater systems. The
third was to prepare the company for audit and begin the audit
process."
"In addition, I challenged management to seek to establish new
relationships with large electronic distribution companies, joint
venture partners and open new dealerships designed to provide Media
Concepts access to the latest technology, and I'm proud to say that we
have made tremendous strides in this regard," said Vidrio.
These accomplishments have been made despite the overall downturn
in market receptivity to technology offerings and the need to dedicate
management's time to solving issues left over by this team's
predecessors.
The company has constructed a strategic blueprint for the next 12
months which management hopes to support unprecedented growth for
Media Concepts. The objectives of this plan contribute to an overall
company focus increasingly fixed upon the home networking, automation
and entertainment sectors. Management continues to see this arena as
representing high growth potential for the company.
For example, Allied Business Intelligence, an independent
(newsletter) which reports on the residential home automation and
structured wiring industry, predicts that the home networking and
automation industry alone could generate up to $7.7 Billion in revenue
by 2004. Just as important as the overall opportunity for the
industry, is the ability of our company to address it. Our management
believes that Media Concepts together with its strategic alliance
partners and prospective partners, will be particularly well suited
for (and moving to capitalize on) these markets.
Our specific plans to execute the strategic blueprint described in
this release include the following. First the company expects to
continue its formal negotiations with potential acquisition/merger
candidates in the marketing and electronics industries. The company
presently intends to complete at least one such transaction this year.
This move will enable management to further strengthen the company's
infrastructure and broaden resources to execute plans for Top Box
Media and other areas of business activity.
Second, Media Concepts plans to invest in market research and beta
test programs being developed by the Company one of which is expected
to be the development of our "Black Box" technology from its alpha
prototype to a beta prototype that can be introduced to the investment
community. Other areas will consist of low cost home automation
solutions, GUI (graphic user interface) software that will run on
these systems, as well as hardware allowing for everyone to enjoy an
automated home.
The third strategic objective is in the area of corporate identity
and communication. Tools including the company's logo and Web site will
be updated to reflect the growth of Media Concepts and to further
explain the fundamentals of home automation to builders and consumers
who purchase systems from the company, as well as inform, educate and
promote usage of these types of systems.
And finally, the company is moving forward with the audit of its
financial statements and is expected by its advisors to be in position
to apply for re-listing on the OTCBB during the next 4 months, which
it feels is of the highest priority.
"My vision for Media Concepts in the coming year is to have the
company in a strong sales position to convert the potential we see in
our market research within the residential home automation sector to
positive cash flow. To this end, we intend to continue to develop
strong relationships within this industry, and along with our joint
venture partner, Top Box, develop an understanding and consumer
awareness of the wired home and automated living," stated Vidrio.
About MDCE
Media Concepts Inc. is a diversified electronics and media
technology company that focuses on emerging electronic products and
home entertainment related systems. The companies focus includes
cutting-edge wireless technologies, data transfer products, and
electronic accessories and home automation products.
The statements made in this press release, which are not
historical facts, contain certain forward-looking statements
concerning potential developments affecting the business, prospects,
financial condition and other aspects of the company to which this
release pertains. The actual results of the specific items described
in this release, and the company's operations generally, may differ
materially from what is projected in such forward looking statements.
Although such statements are based upon the best judgments of
management of the company as of the date of this release, significant
deviations in magnitude, timing and other factors may result from
business risks and uncertainties including, without limitation, the
company's dependence on third parties, market conditions, technical
factors, the availability of outside capital and receipt of revenues,
and other factors, many of which are beyond the control of the
company. The company disclaims any obligation to update information
contained in any forward-looking statement.
--30--jf/sd*
CONTACT: Media Concepts Inc., Temecula
Erik Vidrio, 909/506-3929
www.MDCEinvestor.com
www.HOMTHEATER.com |
