MANCHESTER, N.H., Aug. 9, 2012 /PRNewswire/ -- QED Connect Inc. ("QED Connect") (OTC Pink Sheets: QEDN) today announced that it has signed an agreement to acquire Nazz Productions Inc. ("Nazz"). Under the terms of the agreement, Nazz will become a wholly-owned subsidiary of QED and will continue to operate as an independent organization.
Nazz establishes national and international channels for distribution of films to both theaters and television and has developed an entertainment library. Nazz also distributes its film library post-release to generate recurring revenues by distributing film directly to retailers, online distribution network, and to television.
Its latest feature production, "Good Day For It", launched its official domestic DVD and VOD release at Redbox, on Netflix and iTunes and at Amazon.com, as well as several local retailers. Additionally, the film is available for streaming through Video On Demand (VOD) on major cable suppliers including Comcast and Time Warner cable.
Tom Makmann, President & CEO of QED Connect commented, "The acquisition of Nazz Production is the first entry for QED in the entertainment industry. We are continuing to seek additional opportunities in this exciting sector to complement our overall business strategy."
About QED Connect, Inc.
QED Connect, Inc. makes acquisitions, investments, and enters into strategic business strategic alliances in which we can assist our partners in achieving their plans and realizing their maximum 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. The company experienced an increase in order activity receiving six contracts for a total value is $1.94 million. The orders were from a food processor, a hospital, a yeast producer and a College in Colorado.
- Nazz Productions, a movie producer. Nazz's feature film, "Good Day For It", won Favorite Feature at the 2011 Sonoma International Film Festival and opened theatrically in Los Angeles in July and available on DVD and video on demand.
- 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.
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 Connect, Inc., (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company'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) obtain the financing necessary to complete the acquisition of Nazz, (iv) competitive factors and developments beyond the Company's control; and (v) other risk factors.
For More Information Contact - [email protected] Tom Makmann (603) 425-8933
SOURCE QED Connect Inc.