bigbuck, lets take another closer look at the most recent press release. I will use the one that comes with the "ticker" for AOL, which is very similar. I will make comments afterwards regarding the items marked ( ):
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Genesis Media Group, Inc. Signs Letter of Intentwith World Film Marketing, LLC.
LOS ANGELES, May 5 /PRNewswire/ -- Genesis Media Group, Inc., (OTC Bulletin Board: GNNX) has entered into a Letter of Intent with World Film Marketing, LLC., for the purpose of structuring a merger/acquisition agreement (A) between the two companies.
World Film Marketing (WFM), worldfilmmarket.com, (B) is engaged in the business of delivering motion pictures and video programming to consumers over the Internet. Currently, WFM has access and licenses to over 20,000 feature films and vintage television programs. Movie and video content will be expanded with the addition of Genesis's library and other sources. Currently the method of distribution is shipping (C) actual videotapes to customers who have ordered product over the Internet. In the near future, (D) customers will be able to order videos and "download" them into their homes for viewing, in digital surround sound and digital quality. This will be a new capability of Internet information transfer.
To accomplish this, WFM has established a strategic alliance (E) with a converging media technology company (F) specializing in digital video protocols. This alliance gives WFM the required hardware and software to achieve the video download into the customers home. The other crucial element in achieving this streaming video download is an extremely fast, high bandwidth Internet connection. The local phone companies are unrolling this access via their Digital Subscriber Line (DSL) technology. Unlike the cryptic, jerky video that is currently on the Internet, WFM's "streaming" video is full-motion full screen video. The ability to deliver streaming video represents a monumental milestone in both Internet technology and the convergence of digital technologies such as the Internet, telephony, satellite, cable, broadcasting, audio and video. Digital convergence has begun to evolve over the last three years, but one of the most crucial aspects, full-motion, full screen video streaming, was until now unavailable. This major technology requirement has finally arrived.
With the integration of World Film Marketing into Genesis,(G) the company in the near future, (H) will be able to provide the end user with, sporting events, video yellow pages, health and educational programming, video and teleconferencing, available real estate in any given geographical location, corporate entertaining videos for their products and services, and many more valuable services.
For Risk Factors, see the Safe Harbor Act Disclaimer.
SOURCE Genesis Media Group, Inc.
CO: Genesis Media Group, Inc.; World Film Marketing, LLC.
ST: California
IN: MLM ENT
SU: TNM
05/05/99 09:30 EDT prnewswire.com
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(A) Is it a merger or an acquisition. If merger, which company will endure? If acquisition, who is acquiring whom, and what are the terms, such as price, payment and any stock issued?
(B) Has anybody tried going there? I did and not much info, no way to join as you must be a member to order. Sent email asking to join about 7:30 am and no response yet.
(C) All this high tech mumbo jumbo and they are still shipping? And shipping to who?
(D) Always the future! Please define "near future".
(E) "Strategic alliance", what is that? With the intent to merge or acquire, have to assume that gnnx has approved the "alliance". Why be so vague if the deal is done?
(F) What precisely is a "converging media technology company"? Is GNNX one of these?
(G) "Into Genesis" implies that Genesis will acquire. Is that the Plan? If so, then back to (A) regarding price, terms and possible stock to be issued.
(H) See (D).
To conclude, Genesis is "intends to sign some kind of deal" with WFM, who has a "strategic alliance" with a "converging media technology company" to provide "end users" with something in the "future"
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