MIAMI, Oct. 22, 2012 /PRNewswire/ -- Hi Score Corporation (PINKSHEETS: HSCO) announced today that it has been in final discussions with a South Florida Search Engine Optimization (SEO) company. The talks are regarding Hi Score acquiring the SEO company in exchange for cash and stock. The final terms are yet to be finalized but are expected to be concluded within the next ten days.
The Company announced earlier this year that the Board of Directors had approved a plan to engage in acquisition talks with private companies in the Energy Saving Lighting, Medical Solutions and Energy Drinks industries. Company CEO Michael Zoyes said earlier this month that he had "been discussing with the Board...the idea to open up... acquisition plans to include considering private companies from other spaces as well as the ones we originally agreed upon." The Board of Directors recently resolved to "...allow company management to consider opportunities with companies in any space provided the deal makes fiscal sense and show potential of growth."
Since that resolution Company President Zoyes has met with numerous interested parties in several different industries. "The gaming deal is still very much alive," said Mr. Zoyes. "I am very excited about it...as I have mentioned the potential is huge...but there are a lot of moving parts...we need to finish our due diligence...should not be much longer...but in the meantime this SEO deal just sort of fell in our lap. It is neat and clean and has tremendous potential. It is really quite a bit more than your run of the mill SEO program. This team has 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. These guys have done what appears to be a superb job at creating their package and they are geared for bundling the package on a wholesale basis to resellers as well as presenting a brown bag version for retail sale."
The "gaming company" that Mr. Zoyes was referring to is an internet gaming company that the Company announced earlier this month was a potential acquisition target. As Mr. Zoyes said, "This deal is still very much alive." 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.
Hi Score Corporation
SOURCE Hi Score Corporation