Atomic World Media Signs Asset Purchase Agreement With SEC Receiver To Acquire Assets Of JCS Enterprises
DALLAS, Dec. 2, 2014 /PRNewswire/ -- Atomic Paintball, Inc. (OTC: ATOC). On November 20, 2014 Atomic Paintball, Inc. dba Atomic World Media signed an Asset Purchase Agreement to acquire certain assets owned or licensed by JCS Enterprises, Inc.
"These assets will allow Atomic to quickly develop digital media applications that were being beta tested by JCS Enterprises. These include Hospitals, Stadiums, C-Stores and Hotels. The technology integrates smartphone applications and beacon technology with our digital screens. From a marketing perspective this will give advertisers a broad range of locations to reach the consumer," stated Robert Dragotta Atomic President and veteran of the advertising industry.
On November 24, 2014, James D. Sallah, ESQ. not individually, but solely in his capacity as the court-appointed receiver for JCS Enterprises Inc. d/b/a JCS Enterprises Services Inc., T.B.T.I., Inc. and My Gee Bo, Inc. filed a motion for entry of an order authorizing and approving the 1) asset purchase agreement, including the overbid and auction procedures consisting of a break-up fee and expense reimbursement 2) Form and manner of notice of sale, bidding procedures, and auction; and 3) sale of receiverships estate's assets free and clear of liens, claims encumbrances and other interests with supporting memorandum of law in the SEC v. JCS Enterprises, Inc.,. (U.S. District Court, Southern District of Florida, Case No. 14CV80468) to acquire certain assets of JCS Enterprise, T.B.T.I, My Gee Bo and Joe Signore.
As announced on October 31, 2014 Atomic acquired software and intellectual property licensed to JCS along with other software owned by Carey Kriz. With these agreements, Atomic World Media will have exclusive ownership of the software, related hardware and intellectual property to develop the advertising platforms, inventory management, payment processing, mobile and beacon technology and related retail services formerly under development by JCS Enterprises.
The Company anticipates approval by the Court of Purchase and Sale Agreement submitted to the Court within 45 days.
Contact Information: Clay Bennett, Christopher Roberts PR, 678-905-6024 – [email protected] www.atomicworldmedia.com
Safe Harbor Statement/ Forward-Looking Statements
Statements included in this press release, which are not historical in nature, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements relating to the future performance of the Company are subject to many factors including, but not limited to, the customer acceptance of the products in the market, the introduction of competitive products and product development, the impact of any product liability or other adverse litigation, working capital and availability of capital, commercialization and technological difficulties, the impact of actions and events involving key customers, vendors, lenders, competitors, and other risks. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. When used in this press release, the terms "anticipate", "believe", "estimate", "expect", "may", "objective", "plan", "possible", "potential", "project", "will", and similar expressions identify forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof, and we do not undertake any obligation to update any forward looking statements, whether as a result of future events, new information, or otherwise.
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SOURCE Atomic Paintball, Inc.
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