IRVINE, Calif., Nov. 14 /PRNewswire/ -- Netoy, Inc. announced today that it will launch its on-line operations in early 2007. The private company, which plans to go public during 2007, is planning to become an on-line destination site for the toy industry consumer, providing the latest news from the toy industry, new product announcements, consumer safety reports, an international toy exchange market and specialized niche outlets for toy manufacturers worldwide.
Netoy, Inc. acquired the former Netoy.com operations from SafePay Solutions, Inc. earlier this year. As part of the technology and trademark acquisition agreement, the new Netoy, Inc. acquired the Netoy trademark, the Netoy.com subsidiaries, including the International Toy Exchange and Netoy Properties, the Netoy.com business models and the Netoy.com web site.
Under the terms of the agreement to transfer all of its Netoy.com operations to the new Netoy, Inc., SafePay stockholders of record on June 9, 2006 will receive one share of the new Netoy, Inc. stock for each SafePay share owned by them. Netoy is in the process of preparing a registration statement so the shares can be distributed to the SafePay stockholders.
About Netoy, Inc.
Netoy, Inc., based in Irvine, California, is a private company which was formed during 2006 to establish an on-line portal for the toy industry consumer, providing the latest news from the toy industry, new product announcements, consumer safety reports, an international toy exchange market and specialized niche outlets for toy manufacturers worldwide. More information about Netoy, Inc. can be found at: http://www.netoy.com/.
Notes about forward-looking statements:
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.
Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "may," "should" and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.
