March 14, 2008 14:51 ET
Sushee, Inc. Acquires All of the Issued and Outstanding Capital Stock of VidShadow, Inc.
PLACENTIA, CA--(Marketwire - March 14, 2008) - Sushee, Inc. (the "Company") (PINKSHEETS: SSEE) recently effected a share exchange with all of the shareholders of
VidShadow, Inc., a California corporation ("VidShadow") pursuant to which
the Company issued an aggregate of 51,237,494 shares of its common stock to
such shareholders and the Company's majority shareholder transferred an
aggregate of 27,082,506 shares to such shareholders, resulting in the
VidShadow shareholders owning 78,320,000 of the Company's shares of common
stock, in exchange for all of their shares of the common stock of
VidShadow.
This resulted in VidShadow becoming a wholly owned subsidiary of the
Company, and such former VidShadow shareholders owning, immediately post
share exchange, 80.0% of the Company's issued and outstanding common stock.
Additionally, the officers and directors of VidShadow became the officers
and directors of the Company.
The Company will promptly effect its name change to VidShadow, Inc. and
will continue the operations of VidShadow as a wholly owned subsidiary of
the Company. Such operations involve the creation and distribution of a
proprietary Internet video advertising network, Internet content creation,
licensing and presentation and the underlying systems and processes
necessary to operate as a business.
The development and deployment of the VidShadow technology and
infrastructure, its proprietary network and distributed video player and
its destination Internet site is being executed by VidShadow and a number
of market-leading partners in the realms of technology, advertising sales
and content creation and licensing. The Company's website is
www.vidshadow.com.
The Company intends to file a registration statement with the Securities
and Exchange Commission ("SEC") pursuant to which it would become a fully
reporting company pursuant to the Securities Exchange Act of 1934, as
amended, and at such time that it becomes a fully reporting company with
the SEC intends to apply to have its securities quoted on the OTC Bulletin
Board.
The Company's executive offices are located at 1970 Estelle Lane Placentia,
California 92870.
This release contains "forward-looking statements" within the meaning of
and which are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
are subject to risks and uncertainties that could cause actual results to
be materially different from historical results or from any results
expressed or implied by such forward-looking statements. Forward looking
statements generally are accompanied by words such as "anticipates,"
"belief," "believes," "estimates," "expects," "intends," "plans," and
similar statements, and should be considered uncertain and forward-looking.
Any forward-looking statements speak only as of the date on which such
statement is made, are not guarantees of future performance, and involve
certain risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may differ materially from what is
expressed or forecast in such forward-looking statements, whether as result
of new information, future events or otherwise. Factors that could cause
such results to differ materially from the results discussed in such
forward-looking statements include, without limitation: uncertain
continued ability to meet our operational needs in view of serious working
capital constraints; need for substantial additional capital to
meaningfully proceed with our plan of operations; no assurances of and
uncertainty of profitability, no assurances of the Company's ability to
effect sufficient product sales so as to maintain exclusivity in certain
vertical markets, the result of which could materially adversely effect the
Company's results of operations; competition from companies having
substantially great financial, marketing, personnel and other resources
than the Company, including name and brand recognition; the impact of
competitive services and pricing; changing consumer tastes and trends; and
the legal, auditing and administrative cost of compliance associated with
the Sarbanes Oxley Act. Many of such risk factors are beyond the Company's
control. New factors emerge from time to time and it is not possible for
management to predict all of such factors, nor can it assess the impact of
each such factor on the business of the Company or the extent to which any
factor, or combination of factors may cause actual results to differ
materially from those contained in any forward-looking statements. In
light of these risks and uncertainties, there can be no assurance that the
results anticipated in these forward-looking statements will in fact occur.
The Company undertakes no obligation to update any such forward-looking
statements.
About VidShadow
Founded in 2005 by CEO Jordan Hudgens and based in Orange County, CA,
VidShadow is one of the Internet's fastest growing video-sharing networks,
specializing in premium content, original programming and revenue sharing
opportunities in advertising, business, technology and entertainment.
VidShadow offers advanced technologies for consumers and corporate entities
to leverage. With a syndicated network of thousands of websites, VidShadow
streams more than 100 million videos on a monthly basis across its network
of sites. For more information, please visit www.vidshadow.com.