Science & Technology
Science and Technology
Science and Technology
Tue, January 13, 2009 MediaG3 Signs Contract with Yuan Cheng Media
SAN JOSE, Calif.--([ BUSINESS WIRE ])--MediaG3, Inc. (OTCBB: MDGC), a leading developer for broadband wireless product and interactive rich-media content delivery applications, today announced that Oriental Media, MediaG3's wholly owned subsidiary in China has signed a long term service contract with Shanghai Yuan Cheng Media to produce and deliver its publications in digital format utilizing MediaG3's rich-media e-magazine applications. This is in addition to other rich-media content delivering contracts signed with Olympic Garden Development, Highstreet Loft Investment and Development, WGQ Import and Export Trading, with total value of $2M.
"We are pleased to have Yuan Cheng Media to be our partner and customer," said Sam Tan, Vice President of Oriental Media, a wholly owned subsidiary of MediaG3. "We are on track to reach our revenue objective for 2009," added Tan.
"We see great synergy between Yuan Cheng Media and Oriental Media," said General Manager of Yuan Cheng Media. "MediaG3's digital content delivery technology will significantly help us to reach more dynamic, younger and affluent markets."
About MediaG3, Inc.
MediaG3, Inc. develops and markets broadband wireless technology products and online applications that empower interactive content delivery to today's fixed and mobile consumers. MediaG3 has signed a $10 million broadband wireless product supply contract, and is in preparation of launching its China Pilot Project, which has been approved by Chinese Ministry of Commerce and State Administration of Radio, Film and Television, as well as financially supported by the US Trade and Development Agency. With signed contracts and additional business in discussions, the company is expected to reach over $20M in revenue in 24 months. [ www.mediag3.com ].
Forward-looking Statements:
Forward-looking statements such as "believe," "expect," "May," "plan," "intend," etc., contained herein are within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties and are based on the Company's beliefs and assumptions it made using information currently available to it and which reflect current views concerning those future events. Actual results could differ materially. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the volatility of trading markets, the Company's limited operating history, the inability to obtain additional capital, the Company's unproven business model, the risks of doing business in China, and other factors discussed in filings made by the Company with the Securities and Exchange Commission.
