Apr 21, 2014, Press Release
IRVINE, CA--(Marketwired - Apr 21, 2014) - Broadside Enterprises, Inc. (OTC Pink: BRSE) (PINKSHEETS: BRSE) announced today that it has completed and filed its 2013 Annual Report, which should result in the company regaining its current status on the OTC Pink Marketplace. During this process, Emaji, including Sportsworld Entertainment and Emaji Business Development, has continued to move forward with their planned acquisitions, business development and funding activities. Emaji intends to file its 2014 first quarter report on or before May 15, 2014.
As of April 18, 2014, the company had 11,161,180,087 common shares issued and outstanding. The public float, those shares being held in street name, known as "CEDE", is 1,018,220,573 shares. The total restricted shares are 7,203,361,491. The total non-restricted shares are 3,957,818,596, including those in CEDE. Other than management, who own approximately 70% of the common stock issued and outstanding, and whose stock is considered affiliate/control stock and is not available for resale, there are no other affiliates and/or control persons connected to the company. The increase in the number of shares outstanding over the past few months have been related to note holders converting their notes into common stock. Emaji is not affiliated with those note holders; the company receives no proceeds of any sales by such persons. On April 4, 2014, the company retired and returned to treasury three billion shares of its $.00001 par value common stock. The company plans to continue retiring shares to treasury from time to time so that the total number of shares outstanding remains at the current levels or below.
To achieve its goals in fiscal year 2014, Emaji plans to raise additional equity financing, As part of this process, in 2013 the company increased its authorization and issued restricted control block of 10,200,000,000 shares to its Chairman in order to reduce its debt and to insure that Emaji's goals are implemented as its stockholder base continues to expand, and as additional management and other critical employees join the company. After initial delays during the fourth quarter of 2013, Emaji now expects new funding during the second and third quarters of 2014. Emaji has received minimal funding to date. Management's salary continues to be accrued as our existing management has not and does not receive any cash salary at this time. In addition, management does not and has never sold any of its shares. As the largest stockholder of Emaji, management is fully vested in the success of the company. Any funding coming into the company will be for preferred, registered and or restricted stock. The company will provide further information and funding updates at the appropriate time.
Emaji Business Development and Sportsworld Entertainment will be the focus of the company's development efforts in 2014. Emaji has been developing these divisions, which it expects will spur significant growth in 2014, with the goal of acquiring and developing strategically related businesses that have a common thread, providing enjoyment and sports related entertainment to an increasingly diversified demographic.
Sportsworld Entertainment continues to develop its participatory collegiate and professional sports camps through Flashback Camps International ("FCI"), a financial and marketing support program for a wide variety of athletic enterprises, including youth athletic programs, and its Professional Sports Acquisition Group ("PSAG"), which is currently exploring acquisition opportunities in professional sports. This division is expected to generate revenue on a long-term basis when compared to the company's EBD division, at least initially. Sportsworld Entertainment is currently looking to acquire an NBA Development League team through PSAG, and plans to develop and produce a reality competition syndicated series as part of its FCI participatory camps.
Emaji Business Development ("EBD") continues to work on the company's revamped online toy portal company Netoy.com, an on-line toy web portal that will include its on-line retail store, while incorporating several new features, including industry related developments, news and interactive feedback between consumers and toy manufacturers. EBD plans to assemble a team of collegiate students to complete the development, design, launch and marketing of the new Netoy.com company. Emaji expects solid income to develop in the short term as the site is rolled out, with the majority of initial sales to be generated from ad and manufacturer based revenue. While working on the development of Netoy.com, the company was notified that a third party was claiming ownership of the Netoy.com URL. The company launched an investigation into how a third party was able to acquire the URL when there was clear and undisputed ownership of the name by the company dating back to the 1990's, including intellectual property rights, etc. The company's attorneys are continuing to work on the issue, which remains unresolved as of April 18, 2014. Notwithstanding the foregoing, the URL issue only involves the general web site name and does not affect the operations of the company, intellectual property rights or any of the company plans moving forward. The company will provide further information at the appropriate time as this issue is resolved.
In addition, the company has established new guidelines and procedures for releasing information and news about Emaji and its Sportsworld Entertainment and Emaji Business Development divisions. All official information and news announcements are released solely by Emaji. At this date, the company has no contractual or any other type of agreement with any third parties to release or in any way disseminate information and news about Emaji and its Sportsworld Entertainment and Emaji Business Development divisions.
In accordance with existing and new guidelines and procedures, all releases are generated by the company and are reviewed by legal counsel when applicable prior to their release. Any and all questions concerning the company, its operations, stock news and or any other matters are to be addressed directly to the company.
As a publicly traded company on the OTC Pink Marketplace, the common stock of Emaji is subject to various wide-ranging fluctuations in the share price and volume of the stock. These types of stocks are very risky and are subject to market conditions that are beyond the control of the company. Further, as the company has not issued an IPO and or secondary offering to the public, stockholders need to be aware that the funds used to purchase the common stock of the company do not go to the company, rather those funds go to the brokerage firms in the form of commissions and other fees and to the selling stockholders. As a result, stockholders are encouraged to make informed decisions when purchasing any stock and thereafter to monitor those purchases carefully, as price and volume can accelerate and decelerate very quickly.
Information about Emaji can be found in the Company's reports and filings at http://www.OTCMarkets.com
Broadside Enterprises, Inc. (OTC Pink: BRSE) (PINKSHEETS: BRSE), "Where Imagination Comes Alive," is a publicly traded company with two initial divisions, Sportsworld Entertainment, which is developing its participatory collegiate and professional sports camps through Flashback Camps International, a financial and marketing support program for a wide variety of athletic enterprises, including youth athletic programs, and its Professional Sports Acquisition Group, which is currently exploring acquisition opportunities in professional sports; and Emaji Business Development, which is developing the rollout of its revamped online toy portal company Netoy.com.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at http://www.OTCMarkets.com.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
Broadside Enterprises, Inc.
Emaji Public Relations
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Irvine, California 92618