Hi Score Corporation Executes Letter of Intent to Acquire SEO Company
MIAMI, Nov. 20, 2012 /PRNewswire/ -- Hi Score Corporation (PINKSHEETS: HSCO) announced today that it has entered into a Letter of Intent to acquire PRO SEO LLC. a South Florida Search Engine Optimization (SEO) company. The LOI has essentially binds the parties to the transaction contingent on final approval by all members and directors from each party.
Hi Score is acquiring all of the issued and outstanding interest in PRO SEO LLC in exchange for cash and stock in Hi Score. "The price and terms have been agreed upon …we are just waiting on final approval by our board and their members …we hope to execute the final documents very soon but as far as Rich and I are concerned the deal is done. Richard Johnson is the managing member of PRO SEO."
Hi Score announced earlier this year that the Board of Directors had approved a plan to engage in acquisition talks with private companies with a goal of increasing shareholder value. The acquisition of PRO is the first definitive step in expanding and diversifying our portfolio of holdings with a goal of adding shareholder value.
Hi Score CEO, Michael Zoyes reiterated and expanded on his previous remarks: "PRO SEO is neat and clean and I believe that it has tremendous potential. It is really quite a bit more than your run of the mill SEO program… integrated SEO with a Pay Per Click PPC program...creating a hybrid that actually gets measurable results that begin occurring right away, which is indicative of PPC, and allows for the SEO advertising to grow organically, with a boost here and there... and it can be scaled across several price points. Of course the management team comes with the deal. PRO SEO has done what appears to be a superb job at creating a very marketable package that is also geared for bundling the package on a wholesale basis to resellers as well as presenting a brown bag version for retail sale."
Company President Zoyes is still entertaining possible transactions with numerous other interested parties in several different industries.
The company continues to be very optimistic about the future.
About Hi Score
Hi Score Corporation is a supplier of eco-friendly lighting products in the Western Hemisphere. It offers its customers the fiscal and ecological practicality of utilizing safe, efficient, solid state green lighting rather than conventional fluorescent and incandescent bulbs. The Company offers the widest selection of high quality, long lasting LED lighting products that that can replace existing incandescent, fluorescent and halogen bulbs as well as compact fluorescent lights. Additionally the Company offers Compact Fluorescent and Halogen Lighting under its EcoGreenBulb and REPCO Labels, respectively. The Company sells its products directly to distributors, consumers, businesses as well as to municipalities. In August of 2012 the Company resolved to explore acquisition of other profitable private companies in the Energy Saving Lighting as well as in the Medical Solutions and Energy Drinks Industries. In October of 2012 the company expanded its exploration horizons to include opportunities with companies in any space provided the deal makes fiscal sense and shows potential of growth.
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key personnel, timely delivery of inventory from the company's contract manufacturers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
CONTACT: Hi Score Corporation Michael Zoyes President (954) 990-6827 www.hiscorecorporation.com
SOURCE Hi Score Corporation
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