BEIJING, April 26 /Xinhua-PRNewswire/ -- K's Media (the Company, OTC Bulletin Board: KVME), a publicly traded company specializing in media and advertising, announces that its wholly owned subsidiary Orient Come Holdings Limited (Orient Come) has assigned its rights and obligations to a Chinese company.
Pursuant to the Assignment Agreement dated February 22, 2008, Orient Come assigned its rights and obligations under the Business Cooperation Agreement to K's Media Broadcasting, a company organized under the laws of the People's Republic of China and a wholly owned subsidiary of the Company. K's Media Broadcasting agreed to assume all of Orient Come's obligations under the Business Cooperation Agreement.
"K's Media Broadcasting will continue to provide Beijing K's Media Advertising Ltd. Co., (the Chinese advertising company) with complete technical support, business support and related consulting services as described in the Business Cooperation Agreement. This arrangement is made in order to better serve our customers," stated Zhuang Yan, CEO of the Company.
For more information about the "Business Cooperation Agreement" and the "Assignment Agreement" please go to SEC's website at www.sec.gov. For more information about K's Media visit http://www.mediaks.cn
About the Company:
On January 18, 2008, the Company completed a Share Exchange Agreement with Orient Come Holdings Ltd. and Beijing K's Media Advertising Ltd. Co., which transferred the Company from mineral exploration to the media and advertising market.
K's Media targets premium brand advertisers by placing their commercials in KTV night clubs in China. Attempts to reach high-end consumers through traditional advertising channels with powerful and visually appealing presentations can be costly and inefficient. Placing ads in KTV night clubs is an innovative and unique approach that could prove to be highly effective.
KTV night clubs are popular in Asia, providing private rooms containing karaoke systems. Consumers frequent these clubs as a group for entertainment or for business purpose. Advertising on KTV screens allows for an innovative way to target top income earners.
Forward-looking statements
This report contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion. The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.
