NEW YORK, NY --(Marketwired - July 25, 2013) - Mount Knowledge Holdings, Inc. (
The parties have been diligently working on completing all necessary steps to prepare for a capital infusion of up to $3MM to be consummated on or prior to the Closing of this transaction. This includes the recently completed audit of Forum Mobile Israel Ltd. and its subsidiaries. Total consolidated gross revenue for 2012 for Forum Mobile Israel Ltd. was US$21.8MM. In addition, Forum Mobile anticipates reporting solid growth in all of its business lines in 2013.
A summary of the terms and conditions of the proposed transaction, including a copy of the Definitive Agreement between MKHD and Forum Mobile Inc. (FRMB), a Delaware company, which owns one hundred (100%) percent of the ownership interest in Forum Mobile Israel, can be reviewed on Current Form 8K filed with the SEC on March 20, 2013. Although all parties anticipate closing the pending transaction, there can be no guarantee that all of the conditions set forth in the Definitive Agreement will be met and that the transaction will be consummated.
Separately, MKHD's Form 10K for the period ending December 31, 2011, is expected to be filed imminently, which is the first in a series of SEC filings that the Company intends to file in order to become current in its 1934 Act filings with the SEC.
A presentation for Forum Mobile can be viewed by clicking on the following link: Forum Mobile Presentation
An Executive Summary for Forum Mobile can be viewed by clicking on the following link: Forum Mobile Executive Summary
Alternatively, both documents can be viewed in the "Overview - Quick Links" section of the Company's IR website located at http://www.mkhd.net .
Chardan Capital Markets, LLC is acting as sole M&A advisor on the transaction and investment banker to the parties.
This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this press release are made based on management's current expectations and estimates, which involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward looking statements. These risks and other factors include but are not limited to: the success or failure of management's efforts to implement the Company's business plan; the ability of the Company to fund its operating expenses; the ability of the Company to compete with other companies that have a similar business plan; the effect of changing economic conditions impacting our plan of operation; and the ability of the Company to meet the other risks as may be described in future filings with the Securities and Exchange Commission. We cannot guarantee future results, levels of activity, performance or achievements. Forum Mobile and Mount Knowledge Inc. do not assume any obligation to update the forward-looking information contained in this press release.
Contact: James D. Beatty CEO Mount Knowledge Holdings, Inc. 228 Park Ave. S #56101 New York, NY 10003-1502 admin@mkhd.net Phone: (917) 289-0944 Ami Segal CEO Forum Mobile 26 Broadway, 21st Floor New York, NY 10004 ami@forum-group.com Phone: (212) 461-4730 George Kaufman Chardan Capital Markets, LLC 17 State Street, Suite 1600 New York, NY 10013 gkaufman@chardancm.com Phone: (646) 465-9015
