SOURCE: The Amergence Group
July 11, 2007 10:30 ET
Sony-BMG Files Suit Against Amergence Group
Amergence and Its Sales Agent, MediaMax Technology, Intend to Employ All Defenses at Their Disposal to Defend Themselves Against What They Believe Are Unwarranted Allegations by the Entertainment Giant
PHOENIX, AZ--(Marketwire - July 11, 2007) - On Monday (July 9, 2007) The Amergence Group,
Inc. (PINKSHEETS: AMNG) (formerly SunnComm International), and its sales
agent, MediaMax Technology (PINKSHEETS: MMXT), were unexpectedly served
with a summons in a civil lawsuit brought by Sony-BMG. The suit alleges,
among other things, that SunnComm's CD copy protection component, called
MediaMax, was defective and that the small Phoenix-based company has a
contractual obligation to indemnify the entertainment giant against
consumer actions which Amergence believes resulted primarily from 1)
Sony's under-tested release of a competitor's technology, and 2) BMG's
"final authority" input in determining the functional specifications of the
MediaMax copy protection.
ABOUT THE AMERGENCE GROUP
The Amergence Group (PINKSHEETS: AMNG) identifies, nurtures, and expands
selected emerging companies across a wide range of industries and
disciplines. The primary goal of new business development enterprise (BDE)
is to coordinate services and activities that foster and promote a business
environment capable of accelerating the growth of innovative companies. The
Company attracts new and early growth businesses that wish to take
advantage of resources not generally available to them, such as
mission-critical capital, in addition to legal, accounting, and public
relations resources. In exchange, the Company will retain a small minority
ownership position in the promising new business. The Company is currently
reviewing comprehensive due diligence packages from a number of potential
target companies, ranging from the medical, legal, and entertainment
industries.
This news release contains predictions, projections, and other statements
about the future that may or may not be "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
(collectively, "forward-looking statements"). Forward-looking statements
relate to various aspects of the Company's operations and strategies,
including but not limited to the effects of having experienced significant
losses in the past and the risk that the Company may incur losses in the
future; the Company's limited liquidity and significant indebtedness; its
sales forecasts for future periods not being; the Company's marketing,
product development, acquisition investments, licensing and other
strategies not being successful; possible future issuances of debt or
equity securities; new business development and industry trends; the
possible need to raise additional capital in order to meet the Company's
obligations and most other statements that are not historical in nature.
Important factors that could cause actual results to differ materially from
those described in the forward-looking statements are described in
cautionary statements included in this news release. In assessing
forward-looking statements, readers are urged to consider carefully these
cautionary statements. Forward-looking statements speak only as of the date
of this news release, and the Company disclaims any obligations to update
such statements.