LOS ANGELES, March 19 /PRNewswire-FirstCall/ -- BroadWebAsia, Inc.
(OTC Bulletin Board: BWBA) ("BWA" or "the Company"), today announced
completion of its share exchange transaction and approval of the Company's
OTCBB symbol "BWBA" on the over-the-counter bulletin board.
On February 12, 2008, BroadWebAsia, Inc. a British Virgin Islands company
entered into a share exchange agreement following which all of the issued and
outstanding capital stock of BWA was exchanged for shares of a publicly
reporting company. Upon closing, BWA became a wholly-owned subsidiary and the
parent company changed its name to BroadWebAsia, Inc., originally a Nevada
corporation, that was reincorporated in Delaware.
About BroadWebAsia, Inc.
BroadWebAsia, Inc. is a diversified Internet company focused on online
communities and online advertising in the People's Republic of China ("PRC").
Internet entrepreneur and MySpace founder, Brad Greenspan, established
BroadWebAsia in 2005 to focus on the development of web 2.0 properties and new
media opportunities in the PRC.
Through direct ownership, commercial arrangements and joint ventures, the
BroadWebAsia network is comprised of Hupo.TV (http://www.hupo.tv), Mofile
(http://www.mofile.com), TYCY Games (http://www.tycygame.com), 9e3.com
(http://www.9e3.com), Bbmao (http://www.bbmao.com), and ETE
Hupo.TV and Mofile are two of the leading online video sharing sites in
China in terms of monthly unique visitors. Mofile focuses primarily on
user-generated content while Hupo.TV focuses primarily on proprietary content.
TYCY Games is a leading flash-based online casual games company that
offers thousands of online casual games to its targeted 13-20 year old
9e3.com is an online social networking and community site also focusing on
the 13-20 year old demographic.
Bbmao.com is a meta-search engine that sends queries to multiple search
services and delivers search results in a logical and organized manner to its
users. It also offers an integrated social bookmarking feature that allows
people to share bookmarks with one another. Bbmao.com was selected as one of
Red Herring Magazine's Top 100 companies in Asia in 2006.
ETE is a leading advertising serving and services company serving online
advertising to more than 23,000 websites in China. ETE is the owner of the
AdSky technology and also operates the affiliate marketing website,
Chairman, Founder, and largest shareholder Brad Greenspan started building
the core of BroadWebAsia in 2005. Today, headquartered in Beijing,
BroadWebAsia's CEO Peter Schloss leads an online entertainment-focused network
that in February 2008 received over 70 million unique visitors per month and
generated more than 500 million monthly page views as reported by third party
ABOUT BRAD GREENSPAN
Brad Greenspan is a Los Angeles-based Internet Entrepreneur and founder of
MySpace. Greenspan also has a majority stake in privately held Live Universe,
Inc. that along with BroadWebAsia, reaches approximately 100 million unique
users each month across the U.S./Europe/Asia. Brad also is Chairman of Borba
Nutraceuticals which recently rolled out a distribution deal with Anheuser
Busch and received a strategic investment by Liberty Media's QVC Group. More
information can be found at http://www.bradgreenspan.com.
LiveUniverse is one of the world's largest online entertainment networks,
led by Brad Greenspan. LiveUniverse operates several successful and popular
websites across three core verticals: Video, Social Networking & Music. The
LiveUniverse network is visited and reaches over 40 million unique visitors
per month and over 400 million page views. LiveUniverse's flagship site is the
new Online Social Entertainment Community LiveVideo.com
Statements made in this release that are not historical in nature
constitute forward-looking statements within the meaning of the Safe Harbor
Provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by the use of words such as
"expects," "plans" "will," "may," "anticipates," believes," "should,"
"intends," "estimates," and other words of similar meaning. These statements
are subject to risks and uncertainties that cannot be predicted or quantified
and consequently, actual results may differ materially from those expressed or
implied by such forward-looking statements. Such risks and uncertainties
include, without limitation, risks associated with the uncertainty of future
financial results, additional financing requirements, development of new
products, the effectiveness, profitability, and marketability of such
products, the ability to protect proprietary information, the impact of
current, pending, or future legislation and regulation on the industry, the
impact of competitive products or pricing, technological changes, the effect
of general economic and business conditions.
Information regarding market and industry statistics contained in this
release is included based on information available to us that we believe is
accurate. It is generally based on industry and other publications that are
not produced for purposes of securities offerings or economic analysis. We
have not reviewed or included data from all sources, and cannot assure readers
of the accuracy or completeness of the data included in this release.
Forecasts and other forward-looking information obtained from these sources
are subject to the same qualifications and the additional uncertainties
accompanying any estimates of future market size, revenue and market
acceptance of products and services. We do not assume any obligation to
update any forward-looking statement. As a result, readers should not place
undue reliance on these forward-looking statements.
More detailed information about the company and the risk factors that may
affect the realization of forward-looking statements is set forth in the
company's filings with the Securities and Exchange Commission, including the
Risk Factor section of the company's Current Report on Form 8-K/A filed with
the SEC on February 29, 2008. Investors and security holders are urged to read
these documents free of charge on the SEC's web site at http://www.sec.gov.
All forward-looking statements included in this release are made as of the
date of this press release, and we assume no obligation to update any such
Financial Relations Board
SOURCE BroadWebAsia, Inc.