SOURCE: Mike The Pike Productions, Inc.
January 07, 2010 14:10 ET
Mike the Pike Productions Acquires Serve Nation and www.ServeNation.com
MTP Prods Purchases Charitable Giving Entity for Socially Conscious Business Model
LOS ANGELES, CA--(Marketwire - January 7, 2010) - (PINKSHEETS: MIKP) -- Serve Nation, a
multi-dimensional charitable giving entity with a foundation in gift card
sales, has been acquired by Mike the Pike Productions, Inc. for an
undisclosed amount. The purchase was made in a combination of cash and
financing by the previous owner(s) over the course of 18 months and
includes all Intellectual Property, domains, client and prospect lists,
members, customers and subscribers. Any and all liabilities were not
inherited by MTP and will remain with the previous owner(s). The
acquisition is something the company is very pleased with as "it's a
perfect fit with MTP's 'Pay it Forward' mentality while adding to our
overall asset base and revenue streams for shareholders," states MTP CEO,
Mark B. Newbauer.
It's also a compelling addition to MTP's New Media division which was
announced earlier this week. "The potential here is enormous," Newbauer
continues. "We have an existing loyal customer base and a list of prospects
and opportunities under negotiation, as adopted under the purchase
agreement. That said, we feel that the business model is yet to receive the
attention, consistency and diligence it deserves to position it for an
attractive buyout if not a permanent profitable fixture in MTP's New Media
portfolio. For now, our goal is to build the business; plain and simple. We
are currently forming a 501c3 Non-Profit entity which will be utilized to
purchase the gift cards at a discount to service the business model."
Currently, ServeNation has relationships in place to fulfill this need
somewhat seamlessly; however, in order to maximize its potential, MTP is
currently overhauling the website/online business model and re-organizing
initiatives and strategies.
Shareholders will be updated regularly on this process including the
selection of a capable CEO with strategic relationships and business
upgrades including technology/mobile application technology and tie-ins.
Want to know more about MTP? Go to: www.mikethepikeprods.com
MTP productions can be followed on Twitter @MTPPRODS
Safe Harbor: This release may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Statements
contained in this release that are not historical facts may be deemed to be
forward-looking statements. Investors are cautioned that forward-looking
statements are inherently uncertain. Actual performance and results may
differ materially from that projected or suggested herein due to certain
risks and uncertainties including, without limitation, ability to obtain
financing and regulatory and shareholder approvals for anticipated actions.