Webxu CEO Issues Shareholder Update Letter
LOS ANGELES, April 8, 2013 /PRNewswire/ -- Webxu, Inc. (OTCQB: WBXU), a media company that owns and operates a network of consumer branded websites and businesses focused on Customer Acquisition, E-Commerce and Mobile Media, today announced the issuance of a letter by CEO Keith Schaefer, to update shareholders on Company progress.
Dear Fellow Shareholder,
Since our last update to shareholders, we have achieved success in a number of endeavors, which were part of our strategic growth plan set in motion in late 2012. We are pleased to report that recent renewed interest in our stock is a sign of the exposure we are getting in the marketplace as a result of our overall efforts in Q1 2013.
Strengthening Balance Sheet
These efforts included a plan to strengthen our Balance Sheet via debt reduction. We recently announced the successful conversion of some shareholder notes into common stock. We would like to add that all investors who converted agreed to do so into restricted shares. This transaction occurred prior to March 25, 2013, and at a nominal discount to market. We feel that this conversion was a big vote of confidence in our overall plan. We intend to continue to improve our balance sheet throughout 2013. We feel that this conversion, plus other anticipated announcements we have in the works, will alleviate the current downward pressure on the stock price and restore a value that more follows the performance of our accomplishments.
We believe that our Acquisition and Strategic Partnership plan is sound. We have several pending acquisition targets in the current pipeline. We anticipate closing these targets in 2013. We also have a number of synergistic strategic partnerships that are currently in the negotiation stage. We believe these pending transactions fit our overall plan and could dramatically change the financial landscape of the Company in a positive way. We are continuing to closely develop these pending targets and partnerships and we will execute on each opportunity that is accretive to our strategy.
We have accomplished many of the key items we had in our strategic plan. With renewed interest in our stock, investor interest is also increasing, which is leading to more incoming inquiries including requests to do business from more Fortune 500 advertisers. We plan to continue to update you on progress as it is made.
As always, thank you for your support.
Keith E. Schaefer
About Webxu, Inc.
Webxu, Inc. (OTCBB: WBXU) is a media company that owns and operates a network of consumer branded websites and businesses focused on Customer Acquisition, E-Commerce and Mobile Media. Through its branded consumer websites, Webxu generates revenue by providing advertiser clients with targeted consumer traffic. Webxu is headquartered in Los Angeles, CA. For more information about Webxu visit http://www.webxu.com.
Webxu Media Contact
Cautionary Language Regarding Forward Looking Statements
This release and any attachments contain forward-looking statements within the meaning of the "safe harbor" provisions of the Federal securities laws, including Section 21E of the Securities Exchange Act of1934, that involve risks and uncertainties. Words such as "will," "believe," "intend," "potential" and similar expressions are intended to identify forward-looking statements. These forward-looking statements include the quotations from management in this press release, as well as any statements regarding the Company's anticipated financial results and strategic and operational plans. The Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may contribute to such differences include, but are not limited to: the Company's ability to deliver an adequate rate of growth and manage such growth; the impact of changes in government regulation and industry standards; the Company's ability to maintain and increase the number of visitors to its websites; the Company's ability to identify and manage acquisitions; the impact of the current economic climate on the Company's business; the Company's ability to attract and retain qualified executives and employees; the Company's ability to compete effectively against others in the online marketing and media industry; the impact and costs of any failure by the Company to comply with government regulations and industry standards; and costs associated with defending intellectual property infringement and other claims. More information about potential factors that could affect the Company's business and financial results is contained in the Company's latest annual report. These forward looking statements are made as of today's date and, except as otherwise required by law, the Company does not intend and undertakes no duty to release publicly any updates or revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof.
SOURCE Webxu, Inc.