miNetwork Group is pleased to announce that it has engaged Los Angeles, California, based Ascot Investments, Inc. (www.ascotinc.com).
Under the terms of the engagement agreement, Ascot will be responsible for restructuring the Company’s current capitalization table, providing bridge financing in order to effectively roll out the miOffice suite, defining acquisition targets that will enhance the Company’s current portfolio of products while increasing the Company’s net tangible assets and bringing joint venture/revenue sharing relationships that will rapidly increase top line revenue and add profitability to the Company’s bottom line.
“miNetwork’s management team, since the date of inception, has maintained a vision that VoIP has come of age and would result in a major paradigm shift for the telecommunication industry globally. However we were not going to build our business around such a highly competitive space but rather create a “suite” of services that all ride on the same IP platform. It is very refreshing to be working with an investment services firm such as Ascot Investments, that clearly understands the model that miNetwork is deploying and offers the Corporation revenue generating contract opportunities as well as access to capital financing. We are excited to be working with Mr. Osborn and his entire team at Ascot Investments” stated Dan Pacholik, President and CEO of the Corporation.
“We are pleased to add a company of miNetwork’s caliber to our list of clientele,” stated Michael Osborn, Chairman and CEO of Ascot Investments. “Although we believe the VoIP sector is becoming increasingly saturated and is poised for consolidation, we are confident with the marketing vision of CEO, Dan. Pacholik, miNetwork has defined and deployed a unique approach to the bundled service market. Our team will be assisting Mr. Pacholik with the necessary tools to become a fully reporting company, raise capital to market the company’s product offerings and rapidly inject revenue through joint venture relationships with our existing portfolio of companies" added Mr. Osborn.
About miNetwork Group Inc.
miNetwork Group Inc. is an Internet based marketing and distribution company focused on the migration of real world Internet products and services from a fixed location service to the wireless devices and access points now being deployed globally.
ON BEHALF OF THE BOARD
OF miNetwork Group Inc.
President – Dan Pacholik
or investor relations and corporate information:
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company’s current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially form those anticipated or implied in the forward-looking statements.