QED Connect, Inc. Acquires Majority Interest in Yellow7, Inc.
MANCHESTER, N.H., Jan. 17, 2013 /PRNewswire/ -- QED Connect, Inc. ("QED") (OTC Pink Sheets: QEDN) today announced that it has purchased a control block of the outstanding common stock of Yellow7, Inc. ("Yellow7") (OTC Pink Sheets: YLLC). As part of the acquisition, QED's CEO, Tom Makmann, was appointed CEO of Yellow7. Yellow7's prior management team, Jason Burgess and Jon Burgess, will remain in place to manage Yellow7's current business through its subsidiary, Yellow7 Interactive LLC.
Yellow7 is a Web development and marketing solutions company. Yellow7 brings over thirteen years of innovation, technology, and creativity to the online industry, having developed memorable media and technologies for brand leaders such as DATCU Credit Union, MetlSpan, TIGI and more. Yellow7's multiple capabilities help its clients take full advantage of customized, and effective, online technologies.
Mr. Makmann commented, "Yellow7 has a proven track record in developing Internet presence as well as building awareness in its target markets. We will use these abilities to generate awareness of QED's current and future acquisition opportunities. This acquisition will allow QED to provide information and timely updates to its investors and the marketplace. QED is continuing its strategy of acquisitions, investments, and strategic business strategic alliances and believes its strategy will continue to provide shareholder value in 2013."
QED focuses on businesses that are producing revenue and are seeking capital and/or management assistance to execute their business plan. QED looks for companies that are synergistic and/or offer the opportunity to develop a business in a market that has growth potential.
QED Connect's current investments and joint ventures include:
- Sofame Energy, Inc., a joint venture with Sofame Technologies, has sold the custom-designed "Hybrid Percomtherm®" boiler which recovers boiler flue gas heat from existing boilers and recycles the heat, thereby leading to overall energy efficiency.
- StockProfile.com, a customized platform showcasing emerging growth stocks to independent investors. In June 2011, QED Connect purchased 100% of the assets of StockProfile.com.
- Terra Resources, through its subsidiary company NV Alliance, has oil and gas rights in the Republic of Kalmykia, a subject of the Russian Federation. In August 2012, QED signed a letter of intent to acquire Terra Resources, LLC.
- Kuma Oil, a Russian company, owns oil and gas rights in the Russian territory of Perm Krai and an operation that provides services for oil & gas including exploitation and marketing of oil. In August 2012, QED signed a letter of intent to acquire Kuma Oil.
- Kyrzyg Alumina owns mines containing the raw material necessary to produce alumina (aluminum oxide) in the Kyrgyzstan region. In August 2012, QED signed a letter of intent to acquire Kyrzyg Alumina.
- AFON 2010 Ltd. is a Ukraine-based oil and gas company with concessions to oil and gas leases in in the South Terenyans'ka area in the Nadvirnyans'ky district of Ivano-Frankivs'k region 5 km northeast from the village of Kosmach. In October 2012 QED signed a definitive agreement to acquire AFON 2010, and is now completing due diligence in preparation for closing.
As a result of its continued success in the mergers and acquisitions arena, QED is considering becoming a "business development company" as defined under the Investment Company Act of 1940.
Safe Harbor Statement
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of QED to be materially different from those expressed or implied by such forward-looking statements. QED's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management infrastructure necessary to support the growth of its business; (iii) close the above acquisitions; (iv) competitive factors and developments beyond the Company's control; and (v) other risk factors.
For further information regarding QED's acquisition of Yellow7 stock, see the Form 8-K filed by Yellow7 with the Securities and Exchange Commission.
For More Information Contact - email@example.com Tom Makmann (603) 425-8933
SOURCE QED Connect, Inc.