HENDERSON, NV, July 21 /PRNewswire-FirstCall/ - Videolocity
International, Inc. (VCTY; http://www.videointernationalcorp.com)
the issuer is using this opportunity to address investor inquiries
about the company's share structure and escrow shares allocation.
VCTY management has allocated treasury shares from its authorized
capital as follows:
- 1 billion shares to subsidiary Tactician University at $0.008 per
share (shares in the value of $8 million USD). These are restricted
shares that cannot enter the market for several years and only under
specific guidelines as set out by the Securities and Exchange
Commission (see basic overview explanation to the Rule 144 below.
More in-depth Rule 144 guidelines are available by visiting US
regulators web site).
- 1.5 billion shares at $0.008 per share (shares in the value of $12
million USD) to the China Hydro Company upon completion of the merger
with VCTY.
- 300 million shares at $0.008 per share (shares in the value of $2.4
million USD), for the pending merger with a US-based video rental
company.
The above shares are currently being held in escrow pending the
successful completion of the mergers. Should these mergers not come
to fruition, the shares will be returned to the treasury, and/or
the company may without advance notice reduce its authorized share
structure.
Rule 144:
Under the Federal Securities Act of 1933, stocks must be
registered with the SEC prior to their offer or sale. However, SEC
Rule 144 permits the sale of restricted and affiliated securities
in limited quantities, allowing companies to avoid the expensive
and time-consuming process of registering their securities. Rule
144 generally applies to corporate insiders and buyers of
unregistered private placement securities. A corporate insider -
also called an affiliate - is anyone owning more than 10% of the
outstanding company securities. Non-affiliates of SEC-reporting
companies may sell restricted securities to the public without
registration so long as they have held the securities for six
months.
About Videolocity International Inc:
VCTY's Tactician University is a progressive Chinese management
education and consulting firm. Tactician's business management
consulting programs focus on financial management, project
management, and human resources, while government management
programs provide administrative training to Chinese government
officers. The University also offers career guidance, job-training,
ethics, foreign language, pre-masters and PhD prep training to
college students.
About MinaMar Group:
Mina Mar Group pioneered the "Go Public Free" program, the first
firm to challenge the short sellers, stock bashers and repeal of
the "Communications Decency Act" See www.minamargroup.com/ice to
learn more
Mina Mar Group (MMG) is a corporate consultancy firm that
specializes in small cap or OTC market business services, including
public markets in Frankfurt,
Germany, and UK. We provide our clients with comprehensive
advisory, and consulting services regarding mergers and
acquisitions, including reverse mergers of private companies into
publicly traded entities, and special purpose companies (SPC)
offshore. MMG also offers a full suite of related ancillary
services subsequent to the successful completion of a reverse
merger, including private placements, Pink Sheets Adequate
Disclosure documentation, various SEC regulatory filings and a
broad range of other corporate governance matters. Mina Mar
Marketing Group MMMG (www.minamargroup.net), offers publicly traded
companies full array of services such as Investor Relations, and
maintenance investor awareness.
Filings for this event are currently being reviewed and will be
filed with Pink Sheets and Client Support section in due course. To
be included in company's email database for press releases, "Friday
Tips" industry updates, and non-weekly activity in the company that
may or may not be news released, please subscribe or opt in mailer
at http://www.minamargroup.com/updates.
Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of Videolocity
International, Inc. that constitute forward-looking statements for
purposes of the Safe Harbor Provisions under the Private Securities
Litigation Reform Act of 1995. The words or phrases "can be",
"expects", "may affect", "believed", "estimate", "project" and
similar words and phrases are intended to identify such
forward-looking statements. Videolocity International, Inc.
cautions you that any forward-looking information provided by or on
behalf of Videolocity International, Inc. is not a guarantee of
future performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. Videolocity International, Inc.'s
actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important
factors, some of which are beyond Videolocity International, Inc.'s
control. In addition to those discussed in Videolocity
International, Inc.'s press releases, public filings, and
statements by Videolocity International, Inc.'s management,
including, but not limited to, Videolocity International, Inc.'s
estimate of the sufficiency of its existing capital resources,
Videolocity International, Inc.'s ability to raise additional
capital to fund future operations, Videolocity International,
Inc.'s ability to repay its existing indebtedness, the
uncertainties involved in estimating market opportunities, and in
identifying contracts which match Videolocity International, Inc.'s
capability to be awarded contracts. All such forward-looking
statements are current only as of the date on which such statements
were made. Videolocity International, Inc. does not undertake any
obligation to publicly update any forward-looking statement to
reflect events or circumstances after the date on which any such
statement is made or to reflect the occurrence of unanticipated
events.
CONTACT: Videolocity International, Inc.:
corporate@videointernationalcorp.com; For any investor relations
matters, please contact, Investor Relations, 1 647 426 1640; 1st
Level Support Retail Clients General Inquiry THE IR SUPPORT STAFF
WILL ONLY DISCUSS MATTERS RELATING TO AN ISSUER IF YOU HAVE AN OPEN
OR A CLOSED TICKET, WITH A TICKET REFERENCE NUMBER,
www.minamargroup.net/helpdesk, Investor Relations Department
Inquiry, www.minamargroup.net (IR), For (M&A) and Corporate
Matters, www.minamargroup.com
SOURCE Videolocity International, Inc.