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LOS ANGELES—(BUSINESS WIRE)–Aug. 10, 2004–World Wide Motion Pictures Corp. (OTCBB:WWMO – News) today reported that at its Aug. 3, 2004 Board of Directors meeting, management approved an aggressive plan of accelerated negotiations for several possible merger and acquisition candidates.
The Board members who were assembled from around the United States have been receiving M&A proposals from domestic and international companies who desire, among other things, broader exposure to the Wall Street Capital Markets and an affiliation with long-established and respected public entities like WWMO.
“All Board members were enthusiastic about the possibility of developing and building additional substantial shareholder value from possible mergers and acquisitions,” said Paul Hancock, President/CEO.
Hancock further added, “As we have previously disclosed, we continue to analyze and conduct extensive due diligence on a variety of merger and acquisition candidates, including opportunities in diversified fields of enterprise, along with our own core business of film and TV production/distribution.”
In addition to discussion and passage of general operating Resolutions, the Board of Directors meeting also encompassed reports from management and staff on production and distribution activities of WWMO, including the creation and full implementation of an Internet marketing portal for film and TV product from the WWMO library of 300+ titles.
Any forward-looking statements contained in this release reflecting management’s best judgment based on factors currently known, involve risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements included herein as a result of a number of factors including, but not limited to, WWMO’s ability to enter into various financing programs, competition from other companies, acquisition of suitable motion picture/TV product, and the performance of films in general licensed and distributed by WWMO.
Please refer to WWMO’s Securities and Exchange Commission filings for additional information.
Founded in 1977, World Wide Motion Pictures Corp. is a diversified company, with shareholders throughout the world, which is involved in the development, financing, production and distribution of feature films, documentaries, short subjects, industrials and television productions. WWMO’s industry executives and Board members have produced, distributed and consulted on a wide variety of film and television projects, earning Academy Awards, Emmy Awards and prizes from world film festivals.
