IBNW has gone from ($33) per share loss last year, to $0.04 a share profit this
year. They have shaved over $2.5MM of debt off their books, and are going to
continue to acquire other companies.
This is a great little company with HUGE upside.
The stock price is $0.50 today, but will not be there long.
iB3 Networks, Inc Signs Definitive Agreement to Acquire MadisonAvenueMatch.com
CANAL WINCHESTER, OH -- -December 10, 2008 - iB3 Networks, Inc. (OTCBB: IBNW)
announced today that it has signed and executed Definitive Agreements,
including Plan of Merger Agreement to purchase NYC Mags, Inc. the owner of
MadisonAvenueMatch.com making the entities a wholly owned subsidiary of iB3
The Agreement consists of an all stock deal, including 150,000 at $0.50 a share
for actual purchase of NYC Mags, Inc. and all IP associated with
MadisonAvenueMatch.com; an employment agreement for Michael Jacobson who has
been appointed President of MadisonAvenueMagazine.com by iB3's board, a 1% of
the issued and outstanding shares in warrants exercised at $0.50 a share, and
an additional 850,000 shares for completion of milestones, as detailed, in
iB3's 8K SEC filing.
MadisonAvenueMatch.com, a development stage website expected to launch in first
quarter of 2009, is an upscale online dating web based service focused on New
York City men and woman, with busy careers, looking for someone special in
their lives. This site is expected to attract immediate membership by offering
a complimentary 30-day trial, and access to private mixer events,
MadisonAvenueMatch.com will offer its new members the ability to upgrade with a
vast array of membership options, ranging from $39.99 to $99.99.
About iB3 Networks, Inc. (OTCBB: IBNW)
iB3 Networks, Inc. (OTCBB: IBNW) and its wholly owned subsidiary iBeam
Solutions, is a Microsoft Gold Certified Partner with a proven track record of
delivering scalable hosting solutions, managed hosting, dedicated hosting and
Co-location, world-class IT infrastructure, 100% uptime SLA and 24x7x365 First
Call Support, virtual help desk, managed services, design and implementation of
networks, security and Internet monitoring, technical support, web development,
application development, database development and support, wireless solutions,
Internet businesses, and is a Cisco Certified Select Partner.
For more information please visit their web site at www.iB3Networks.com
Safe Harbor: This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 27E of the
Securities Act of 1934. Statements contained in this release that are not
historical facts may be deemed to be forward-looking statements. Investors are
cautioned that forward-looking statements are inherently uncertain. Actual
performance and results may differ materially from that projected or suggested
herein due to certain risks and uncertainties including, without limitation,
ability to obtain financing and regulatory and shareholder approval for
Eric Schmidt, CEO of iB3 Networks
Michael Jacobson, President of MadisonAvenueMatch.com
iB3 Networks, Inc.
Tel: (888) 638-9757
Tel: (917) 865-2392
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