We should not forget to store the news here on thread - as you know they get obsolete on yahoo. Here is yesterdays:
Friday May 7, 10:04 am Eastern Time
Company Press Release
MDI Announces E-commerce Initiative With New Web Sites
HARTFORD, Conn.--(BUSINESS WIRE)--May 7, 1999--MDI Entertainment, Inc. (OTC BB:MDIH) today announced that it has launched its new e-commerce capability and will shortly debut its new web sites.
The web sites, which will be lottery and licensed product specific, will enable lottery players holding non-winning tickets to purchase themed merchandise. The sites will offer a vast array of different merchandise items associated with MDI's licensed lottery properties. The non-winning tickets will, in effect, be valuable coupons. Ticket holders will be able to apply the original price of the ticket for discounts towards the purchase of the merchandise available on the web sites. Tickets can be aggregated for discounts of up to 20%.
The move is seen not only as a major milestone to MDI's business plan, but also as a way to add significant value to MDI's lottery games. The Company has completed detailed market research which has motivated this e-commerce move. Players will also be able to order merchandise through a printed catalog. Specifically, the Company's survey research indicates that nearly 50% of the players of MDI's scratch ticket games would be likely to utilize non-winning tickets for discounts off the purchase price of branded merchandise. Moreover, further MDI research has shown that up to 25% of players of some of MDI's licensed games have purchased merchandise on-line.
Commenting on the broadening of MDI's business platform, MDI President and CEO Steve Saferin stated, ''This is a major development for MDI Entertainment. With this move into e-commerce, we are leveraging our buying power and desires of the tens of millions of people that purchase lottery tickets associated with MDI licensed properties. Moreover, we are providing a significant value-added component to all of the lottery players' tickets, the individual state lotteries and MDI's overall business. This development will enhance the value of our franchise by capitalizing on this new distribution capability. We are currently in discussion with a number of state lotteries regarding the use of this new e-commerce resource. The Company hopes to make announcements accordingly very soon.''
MDI specializes in creating, marketing and implementing entertainment-based promotions to the North American lottery industry. MDI revolutionized the lottery industry with its introduction of second chance merchandise prizes. MDI's current lottery promotions include scratch games featuring properties such as Dick Clark's American Bandstand, Louisville Slugger, Times Square 2000, Harley-Davidson, Twilight Zone, Star Trek and Betty Boop.
The Private Securities Litigation Reform Act of 1995 provides a ''safe harbor'' for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by MDI) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the lottery industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of MDI. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors.
Contact:
MDI Entertainment, Inc.
Steven Saferin, (860) 527-5359 |
