QED Connect, Inc. Acquires Majority Interest in Yellow7, Inc.
MANCHESTER, N.H., Jan. 17, 2013 /PRNewswire/ -- QED Connect, Inc.
("QED") (OTC Pink Sheets: QEDN) today announced that it has
purchased a control block of the outstanding common stock of
Yellow7, Inc. ("Yellow7") (OTC Pink Sheets: YLLC). As part of the
acquisition, QED's CEO, Tom Makmann,
was appointed CEO of Yellow7. Yellow7's prior management team,
Jason Burgess and Jon Burgess, will remain in place to manage
Yellow7's current business through its subsidiary, Yellow7
Interactive LLC.
Yellow7 is a Web development and marketing solutions company.
Yellow7 brings over thirteen years of innovation, technology, and
creativity to the online industry, having developed memorable media
and technologies for brand leaders such as DATCU Credit Union,
MetlSpan, TIGI and more. Yellow7's multiple capabilities help its
clients take full advantage of customized, and effective, online
technologies.
Mr. Makmann commented, "Yellow7 has a proven track record in
developing Internet presence as well as building awareness in its
target markets. We will use these abilities to generate
awareness of QED's current and future acquisition opportunities.
This acquisition will allow QED to provide information and timely
updates to its investors and the marketplace. QED is continuing its
strategy of acquisitions, investments, and strategic business
strategic alliances and believes its strategy will continue to
provide shareholder value in 2013."
QED focuses on businesses that are producing revenue and are
seeking capital and/or management assistance to execute their
business plan. QED looks for companies that are synergistic
and/or offer the opportunity to develop a business in a market that
has growth potential.
QED Connect's current investments and joint ventures
include:
- Sofame Energy, Inc., a joint venture with Sofame Technologies,
has sold the custom-designed "Hybrid Percomtherm®" boiler which
recovers boiler flue gas heat from existing boilers and recycles
the heat, thereby leading to overall energy efficiency.
- StockProfile.com, a customized platform showcasing emerging
growth stocks to independent investors. In June 2011, QED Connect purchased 100% of the
assets of StockProfile.com.
- Terra Resources, through its subsidiary company NV Alliance,
has oil and gas rights in the Republic of Kalmykia, a subject of
the Russian Federation. In August
2012, QED signed a letter of intent to acquire Terra
Resources, LLC.
- Kuma Oil, a Russian company, owns oil and gas rights in the
Russian territory of Perm Krai and an operation that provides
services for oil & gas including exploitation and marketing of
oil. In August 2012, QED signed
a letter of intent to acquire Kuma Oil.
- Kyrzyg Alumina owns mines containing the raw material necessary
to produce alumina (aluminum oxide) in the Kyrgyzstan region. In August 2012, QED signed a letter of intent to
acquire Kyrzyg Alumina.
- AFON 2010 Ltd. is a Ukraine-based oil and gas company with
concessions to oil and gas leases in in the South Terenyans'ka area
in the Nadvirnyans'ky district of Ivano-Frankivs'k region 5 km
northeast from the village of Kosmach. In October 2012 QED signed a definitive agreement to
acquire AFON 2010, and is now completing due diligence in
preparation for closing.
As a result of its continued success in the mergers and
acquisitions arena, QED is considering becoming a "business
development company" as defined under the Investment Company Act of
1940.
Safe Harbor Statement
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by the use of words such as "anticipate,"
"believe," "expect," "future," "may," "will," "would," "should,"
"plan," "projected," "intend," and similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of QED to be materially different
from those expressed or implied by such forward-looking statements.
QED's future operating results are dependent upon many factors,
including but not limited to the Company's ability to: (i) obtain
sufficient capital or a strategic business arrangement to fund its
expansion plans; (ii) build the management infrastructure necessary
to support the growth of its business; (iii) close the above
acquisitions; (iv) competitive factors and developments beyond the
Company's control; and (v) other risk factors.
For further information regarding QED's acquisition of Yellow7
stock, see the Form 8-K filed by Yellow7 with the Securities and
Exchange Commission.
For More Information Contact - info@qedconnect.com
Tom Makmann (603) 425-8933
SOURCE QED Connect, Inc.