2012-12-04 22:08:56 -
TORONTO -- (Marketwire) -- 12/04/12 -- Kalahari Greentech Inc (PINKSHEETS: KHGT) announced today that it has signed a letter of intent with Puppy Power Inc. for the option to purchase up to 15% of the equity in the social media portal www.LuckyPuppy.com : ctt.marketwire.com/?release=961786&id=2354962&type=1& ..
. LuckyPuppy is a modern day tabloid that retails images, photos and videos to the highest offer or bidder in its auctions. The letter of intent calls for Kalahari Greentech to compensate Puppy Power Inc with 100 million common shares of KHGT in exchange for the rights to the license of www.LuckyPuppy.com : ctt.marketwire.com/?release=961786&id=2354965&type=1& ..
In parallel, the growth of Facebook and the establishment of secondary social networks such as Pinterest, Quora, Goodreads, and LinkedIn demonstrates that a "long tail" effect of follow-on social media companies, such as LuckyPuppy, targeting specific consumer interests will redefine how consumers access entertainment and various retail categories. LuckyPuppy.com : ctt.marketwire.com/?release=961786&id=2354968&type=1& ..
sees the intersection of these markets.
The company has restructured, decreasing its common stock by 42% from 336 million shares to 195 million shares issued and outstanding. Additionally, the Company has also rescinded the asset purchase agreement with AMS Gold and the 100 million shares have been returned to the Company from that transaction.
This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Mr. William Vandergate
Web: www.OTPICKS.com : www.otpicks.com/