BEIJING, April 26 /Xinhua-PRNewswire/ -- K's Media (OTC Bulletin Board: KVME), a publicly traded company specializing in media and advertising, plans to raise an additional US $5 million to implement its KTV project.
The capital will be raised via private placement and is expected to be finalized shortly. Prior to this placement, K's Media reserved HK $10,000,000 (approximately US $1,280,000) to execute its business plan in the advertising market. With the additional $5 million working capital, K's Media will be better equipped to achieve its goals.
"With these funds we will also be qualified to apply to the upper level of the stock market, such as NASDAQ. This means we will be able to drum up more investors. I believe K's Media will become one of the most prominent media companies in China with our unique advertising system and our sustainable development," commented Yan Zhuang, CEO of the Company.
For more information, please visit http://www.sec.gov or the Company's website at 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 brands 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 both innovative and unique and could prove to be one of the most effective methods available. KTV night clubs are popular in Asia, providing private rooms with karaoke systems. Consumers go to these clubs as a group for entertainment or business purposes. Advertising on KTV screens offers a more impressive and influential way to target high-end consumers.
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.
