The Best Opportunity of 2009:
October 20, 2009 - MediaNet Group Technologies, an OTC company (MEDG.OB)and
DubLi Worldwide online shopping giant (CG Holdings Limited)announced that they
have completed a reverse-merger deal. Reverse mergers is a less expensive and
streamline method for private companies to go public. The company (DubLi) will
have to make financial disclosure filings with the SEC as well. The deal grants
Dubli executives control of MediaNet and allows them to appoint a new board of
directors. After issuing new shares, MediaNet will have 299 million shares of
which DubLi will own 269 million. MediaNet has a market cap of $6.55 million,
revenue of $2.55M and net income of -$911,870.
Michael Hansen, President of the newly
combined company, said, "We are delighted to be a part of this unique
business combination. The uniting of the DubLi and BSP platforms combines two
shopping alternatives, both of which are recognized leaders in their respective
areas, and offers a one of a kind shopping program unparalleled in the
industry. Our technology combined with MediaNet Group's long term relationship
with top brand vendors will make it possible to set new standards within the
industry. We believe that the business combination offers the doorway to a
totally unique method of international shopping and sets the stage for
worldwide expansion."
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