VANCOUVER, March 13 /PRNewswire-FirstCall/ -- Sound Revolution Inc. (SRLU), a digital entertainment distribution, marketing and technology company, has announced that it has entered into a merger agreement with On4 Communications, Inc. In order to complete the merger, Sound Revolution will have to raise an additional $400,000. Upon closing of the merger, Sound Revolution will vend out its current business, extinguish all but $95,000 of its current debt and begin carrying on the business of On4. Details of the merger agreement can be found in Sound Revolution's Current Report on Form 8-K.
On4 manufactures industry-leading two-way communication devices that track people, pets, assets, inventory or just about anything else that is of importance to its customers. Incorporating both proprietary and non-proprietary hardware, On4 Code Division Multiple Access (CDMA) based devices are harmonized with some of the most sophisticated Location Based Service (LBS) tracking software available on the market today, enabling On4 to provide seamless, integrated end-to-end tracking solutions.
On4 can provide either hardware-only or fully integrated custom solutions, depending on end-user requirements. On4 specializes in the integration of proprietary and non-proprietary hardware and wireless carrier platforms with non-competing vertical partners to access lucrative consumer-based niche markets.
"On4 has an amazing, timely and proven business model and we couldn't be more excited to present our shareholders with this opportunity," commented Penny Green, Sound Revolution's President and CEO.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Sound Revolution's filings with the Securities and Exchange Commission, including, Sound Revolution's latest Reports with the SEC, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
