NEW YORK, Sept. 20 /PRNewswire-FirstCall/ -- IDviews, Inc. is pleased to announce that it has executed a Letter of Intent ("LOI") to acquire Feed Networks, LLC ("Feed"). Pursuant to the LOI, IDviews shall file for a 1-for-15 reverse stock split and request a name change to Feed International, Inc. As a condition to entering into the LOI, advisors to IDviews have secured a minimum of $200,000 in financing to support the proposed transaction.
The business model of Feed International is to become one of the largest aggregators of mobile and internet content including games, music, videos, photographs, wallpaper, ring tones, ring tunes, and an ever growing array of user generated content for wired and wireless consumers. Feed International's target market includes but is not limited to mobile carriers, cable and telephone companies, internet service providers, and internet portal companies.
IDview's CEO, Mr. Seth Shaw, commented, "The business of Feed is scalable and provides our shareholders with a potential growth opportunity. I have also established a level of comfort in working with the Feed management team and I believe they are committed to building a strong company. We will work diligently to progress towards a completed transaction in a timely manner."
About IDviews
IDviews currently has no operations and has been searching for a potential merger/acquisition candidate to create shareholder value moving forward. On September 19, 2007 IDviews signed a Letter of Intent to acquire a media- content firm called Feed Networks, LLC. and anticipates a name change to Feed International, Inc. prior to the closing of such acquisition.
About Feed Networks, LLC
Feed Networks, LLC is a global aggregator of on demand content primarily in the digital entertainment space. It provides this content to resellers that have a pre-existing client base and strong regional brand presence. It delivers these value added services through partnerships with telecom, cable, internet and mobile carriers. Feed provides additional marketing support to it's customers through its viral proliferation division.
DISCLAIMER
This press release may include certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, statements regarding benefits of the proposed acquisition and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects" or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectations and actual results may vary (perhaps materially) from certain results anticipated herein.
