Wizzard Prepares To File Proxy For FAB Deal
26 Aprile 2012 - 1:05PM
Business Wire
Wizzard Software Corporation (NYSE Amex: WZE), the world’s
leading podcast network, today announced that it plans to file the
initial proxy statement with the SEC this week to request
shareholder approval for the FAB acquisition and other related
business items.
For the quarter ending December 31, 2011, FAB generated
unaudited revenues of $21.4 million, versus revenues of $15.7
million in the same period for the prior year. For the quarter
ending December 31, 2011, FAB had unaudited Net Income of $5.4
million, versus Net Income of $2.5 million in the same period for
the prior year. As of December 31, 2011, FAB had Cash On Hand of
$23.6 million.
Founded in 2003, FAB is headquartered in Beijing and is one of
the largest distributors in China of copyrighted DVD’s, Blu-ray
Discs, music CD’s, video games and downloadable digital content
through three distribution channels – wholesale and retail, vending
kiosks and internet stores.
The acquisition of FAB contemplated in this press release is
subject to approval by both Companies’ shareholders, the
satisfaction of customary closing conditions and exchange and
regulatory approvals both in the U.S. and China.
Detailed information on the transaction can be found at
www.sec.gov in Wizzard’s 8K filing.
FAB:
www.wizzardsoftware.com/fab.php
www.fab123.com
About Wizzard Media:
Wizzard Media provides podcast publishers with distribution and
monetization services. Our clients include Microsoft, National
Geographic, Harvard Business Review, NPR and more than 10,000
others who use Wizzard Media products to measure their podcast
audience, deliver popular audio and video entertainment and
monetize their content through advertising and App sales and
subscriptions. In 2011, the Wizzard Media Network received well
over 1.64 billion podcast requests from approximately 50 million
people worldwide through iPods, iPhones, iPads, iTunes,
Blackberrys, Zunes, Androids and many other devices and
destinations. We are part of a publicly held, Pittsburgh based
company with thousands of shareholders and a world-class team.
Visit us on the web at www.wizzardsoftware.com/media, email us at
contact@wizzard.tv.
Legal Notice
Legal Notice Regarding Forward-Looking Statements:
"Forward-looking Statements" as defined in the Private Securities
litigation Reform Act of 1995 may be included in this news release.
These statements relate to future events or our future financial
performance. These statements are only predictions and may differ
materially from actual future results or events. We disclaim any
intention or obligation to revise any forward-looking statements
whether as a result of new information, future developments or
otherwise. There are important risk factors that could cause actual
results to differ from those contained in forward-looking
statements, including, but not limited to risks associated with
changes in general economic and business conditions, actions of our
competitors, the extent to which we are able to develop new
services and markets for our services, the time and expense
involved in such development activities, the level of demand and
market acceptance of our services, changes in our business
strategies and acts of terror against the United States.
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