MediaREADY Signs Letter of Intent to Acquire Shandong Jiajia International
10 Septiembre 2007 - 8:00AM
PR Newswire (US)
Diversified Chinese Company Brings Over $36 million in Annual
Revenue FORT LAUDERDALE, Fla., Sept. 10 /PRNewswire-FirstCall/ --
MediaREADY, Inc. (OTC:MRED) (BULLETIN BOARD: MRED) , a provider of
innovative interactive, media-convergent entertainment devices,
announced today that it has signed a letter of intent to acquire
controlling interest of Shandong Jiajia International Freight &
Forwarding Co., Ltd. ("Shandong Jiajia"), a comprehensive logistics
service provider and international shipping agent based in Qingdao,
Shandong, China. Formed in 1999, Shandong Jiajia arranges
international land, maritime, and air transportation for its
clients. In 2006, Shandong Jiajia achieved 2006 revenues of over
$36 million. Jeffrey Harrell, President of MediaREADY, Inc. said,
"As part of our recently announced relationship with China Direct,
Inc. (OTC:CHND) (BULLETIN BOARD: CHND) , we have been reviewing a
number of significant acquisition candidates over the past few
months. The acquisition of a controlling interest in Shandong
Jiajia offers MediaREADY an exciting opportunity to expand
internationally, by adding a growing profitable enterprise with
significant revenue and earnings to our existing business. Upon the
successful close of the acquisition, we expect to realize an
immediate opportunity for additional revenue growth. Since its
formation in 1999, Shandong Jiajia has offered its clients a
comprehensive service package which includes; receipt of goods,
warehousing, transporting shipments, consolidation of freight,
customs declaration, inspection declaration, multimodal transport,
and combined large-scale logistics. The company has established
extensive relationships with both domestic and international
transportation service providers. Shandong Jiajia has been the
designated agent of world known shipping companies including; NYK
(Nippon Yusen Kaisha), P&O (Nedlloyd), and RCL (Regional
Container Lines). In 2006, the company realized a gross profit of
$2.6 million on over $36 million in revenues (un-audited). The
proposal provides for MediaREADY to acquire a 51% equity interest
in Shandong Jiajia. The letter of intent provides that the parties
will enter into a definitive agreement with expectations of a
closing of the acquisition on or before October 31, 2007. This will
include working toward completion of a financial audit to meet
MediaREADY's reporting requirements upon the closing of the
acquisition. About MediaREADY Incorporated: MediaREADY, Inc.
(OTC:MRED) (BULLETIN BOARD: MRED) is a pioneer in the media center
and portable media device markets offering products and services
that provide consumers with new gateways to today's digital media
and online services; therefore influencing how consumers are
entertained, become informed, and communicate. The Company has
launched several products in categories including; media center and
portable media center products, customer support and affiliate
promotion services. MediaREADY is focused on delivering products
and solutions that are innovative, affordable, and easy to use. For
more information on the MediaREADY product line, including
purchasing information, visit http://www.mediareadyinc.com/. About
China Direct, Inc.: China Direct, Inc. (OTC:CHND) (BULLETIN BOARD:
CHND) maintains active, majority stakes in a diversified portfolio
of Chinese companies as well as offering consulting services for
both private and publicly traded Chinese entities. China Direct
provides a platform to develop and nurture these entities as they
expand their businesses globally. As a direct link to China, our
Company serves as a vehicle to allow investors to directly
participate in the rapid growth of Chinese economy in a diversified
and balanced manner. For more information about China Direct,
please visit http://www.cdii.net/. Safe Harbor Statement This news
release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These
forward- looking statements are based on current expectations or
beliefs, including, but not limited to, statements concerning the
Company's operations, financial performance and, condition. For
this purpose, statements that are not statements of historical fact
may be deemed to be forward-looking statements. The Company
cautions that these statements by their nature involve risks and
uncertainties, and actual results may differ materially depending
on a variety of important factors, including, but not limited to,
the impact of competitive products, pricing and new technology;
changes in consumer preferences and tastes; and effectiveness of
marketing; changes in laws and regulations; fluctuations in costs
of production, and other factors as those discussed in the
Company's reports filed with the Securities and Exchange Commission
from time to time. In addition, the company disclaims any
obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof. DATASOURCE:
MediaREADY, Inc. CONTACT: Investor Relations of MediaREADY,
Incorporated, +1-954-527-7780, Web site:
http://www.mediareadyinc.com/ http://www.cdii.net/
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