Monster Offers™ and Ad Shark™ Agree to Merge Iconosys to Spin-off Ad Shark Mobile Advertising Subsidiary to Shareholders In Connection with Merger
SAN DIEGO, May 9, 2012 /PRNewswire/ -- Monster Offers (OTCBB: MONTD), a leading Daily Deal analytics provider and aggregator, and adShark, Inc., Iconosys' mobile advertising subsidiary, today announce that the parties intend to merge adShark with and into Monster Offers, subsequent to the spin-off by Iconosys of its ownership stake in adShark to Iconosys shareholders.
As previously announced in a press release dated April 18, 2012, Monster Offers had recently signed a non-binding Letter of Intent to be acquired by Iconosys through a reverse merger transaction. After further assessment and evaluation of their respective costs and benefits in connection with this transaction, both parties believe their mutual corporate objectives and sought-after business re-alignment can best be achieved by merging adShark and Monster Offers. Immediately prior to the contemplated merger, Iconosys, which presently owns a majority stake in Ad Shark, will distribute its shares pro-rata to its existing shareholders in a spin-off transaction.
Both Monster Offers and Ad Shark are in the business of delivering targeted mobile advertising services and marketing programs. The newly-merged entity continues to maintain its existing strategic alliance, as well as licensing and other contractual relationships with Iconosys for its mobile development initiatives and foundational app-related technologies.
MONSTER OFFERS™ QUOTE
"We believe this transaction benefits Monster Offers' and Ad Shark's respective customers, partners, employees and shareholders. The daily deals and mobile advertising industries are poised to converge in a big way. Combining the Monster Offers daily deal and analytic platforms with the Ad Shark mobile advertising and distribution platforms is a logical fit, allowing us to concentrate our efforts as a combined company in a way that we believe will give us significant advantages in this exciting marketplace and will ultimately enable us to capitalize on a great opportunity to continue our rapid growth and expansion into high growth, new markets."
- Paul Gain, Monster Offers CEO
"Complement to the core competencies that Monster Offers has demonstrated as an analytics provider and deal aggregator in the daily deal industry, adShark is esteemed to be part of such a monumental event."
- Wayne Irving, adShark Founder
About Monster Offers™
Monster Offers is a leading Daily Deal analytics provider and aggregator collecting daily deals from multiple sites in local communities across the U.S. and Canada. Focused on providing innovation and utility for Daily Deal consumers and providers, the company collects and publishes thousands of daily deals and allows consumers to organize these deals by geography or product categories, or to personalize the results using keyword search. More information can be found by visiting monsteroffers.com or mobile at monsterdailydeals.com.
adShark organizes advertising sales efforts by constructing a robust media and advertising delivery system. adShark's mission is to capitalize on the explosive growth of the mobile marketing industry, which some analysts have estimated to be increasing at an annual rate of about 100% per year and which by some estimates now represents nearly 30 Billion Dollars in worldwide annual revenues.
adShark's innovative approach to integrating traditional internet advertising with optimized media and cutting edge ad delivery methods, all tailored specifically for the applicable Smart Device, OS or screen resolution platform makes the company "a player to be reckoned with" in the very competitive pool for mobile marketing services and products. For more on adShark, Inc. see adshark.mobi.
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, the risks associated with the management appointment described in this press release, and other risks identified in the filings by Monster Offers (MONT), with the U. S. Securities and Exchange Commission. Further information on risks faced by MONT are detailed in the Form 10-K for the year ended December 31, 2011, and in its subsequent Quarterly Reports on Form 10-Q. These filings are or will become available on a website maintained by the U. S. Securities and Exchange Commission at http://www.sec.gov. The information contained in this press release is accurate as of the date indicated. Actual results, events or performance may differ materially. Monster Offers does not undertake any obligation to publicly release the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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SOURCE Monster Offers