VCTY to Investigate Price Movement
HENDERSON, NV, June 3 /PRNewswire-FirstCall/ - Videolocity International, Inc. (http://www.videointernationalcorp.com) (VCTY.PK) announced today that the company directors authorized an investigation into recent stock volatility on Pink Sheets market.
"We have noted extremely volatile trading of our stock in the last week or so," said Marc Pintar, VCTY Interim President, "We are therefore going to make every effort to investigate recent trading activity on Pink Sheets. If we are successful in our investigation, we will report our findings publicly."
VCTY also asks that shareholders, or others with relevant information, contact the company through its investor relations firm at http://www.minamargroup.net/helpdesk.
On Tuesday, June 1, VCTY announced a China-based merger candidate, Tactician University http://www.tcgedu.com/index.asp. Tactician University was founded in 2001, and now operates 10 institutes with 100 full time and part-time professors. The president, Sun Minggao, is a doctor of management and economics, and guest professor of at the Asian Institute of Management in Singapore and University of Southern California.
VCTY continues its merger negotiations with the China based hydroelectric utility, the primary merger candidate. The Hydro Company, with operations in a gorge in rural China, services 80,000 customers.
A source close to the company said "We also wish to emphasize that our development is proceeding as planned and that there will be no dilution in the equity of the Company. The Hydro electric company sits in a gorge in China enjoying a subscription base of 80,000 users, with cash positive revenues. It was built 100% with Chinese investment in the tens of millions of dollars. No sums of moneys diluted on a Pink Sheet will or can substantiate any recovery of this massive investment already completed; nor is any dilution contemplated. VCTY was a company in peril obtained through a Nevada custodianship as a distress company. Those days are long gone for VCTY. Its assets lie in the shareholder base and futures. Once the Hydro company completes US based audit to begin trading on exchanges that support companies with valuations of a quarter of a billion dollars then the true potential of this deal will be unleashed. The Hydro merger is being sought from the Chinese by Mina Mar Group to create a win - win all around. For one the benefits this ex distress company shareholders will reap. Second the future potential appreciation once this audit is complete. Third to compile data to provide US regulators the abuses of overselling in OTC markets and to demonstrate the over sellers actions.
As so far as the China based Tactician University is concerned this is a respectable and rock solid business. President: Sun Minggao, male,46-year-old, doctor of management, Tianjin University; doctor of economics, Peking University; guest professor of Asian Institute of Management in Singapore and University of Southern California; director of doctor students in post doctoral of TACTICIAN University. Vice-president: Wang Dong, male, 43-year-old, doctor of economics, Harbin Institute of Technology; responsible for training and education work. Vice-president: Zheng Jianshe, male, 40-year-old, certified public accountant, professional and experienced in management and responsible for market development.
To date, the University has trained more than 25,000 students in government and business management. In addition to its role as a traditional University, Tactician provides consulting services, hosts a multitude of conferences, and provides investment banking services for 10 companies. In 2009, the company's revenues were $6,200,000, and profits amounted to $2,400,000. VCTY management is currently conducting due diligence of Tactician University, and anticipates the announcement of a formal merger in the near future with VCTY. Moreover, VCTY expects this merger with Hydro Electric will be completed shortly and announced without prior notice way ahead of its 4-10 week projection.
The company reminds its shareholders and followers to monitor PinkSheets.com Filing section and also our IR company web site section "PRESS RELEASES AND FILINGS" TAB http://www.minamargroup.net/ for non newsworthy corporate updates.
For any matters relating to retail investor queries or to send the company or its IR a message please click on the "INVESTOR SUPPORT" TAB, or the direct link http://www.minamargroup.net/helpdesk.
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Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Videolocity International, Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. Videolocity International, Inc. cautions you that any forward-looking information provided by or on behalf of Videolocity International, Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Videolocity International, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Videolocity International, Inc.'s control. In addition to those discussed in Videolocity International, Inc.'s press releases, public filings, and statements by Videolocity International, Inc.'s management, including, but not limited to, Videolocity International, Inc.'s estimate of the sufficiency of its existing capital resources, Videolocity International, Inc.'s ability to raise additional capital to fund future operations, Videolocity International, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Videolocity International, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Videolocity International, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
CONTACT: For any investor relations matters, please contact www.minamargroup.net/helpdesk, Investor Relations Department Inquiry,www.minamargroup.net (IR), For (M&A) and Corporate Matters, www.minamargroup.com
SOURCE Videolocity International, Inc.