ORLANDO, Fla., April 20, 2004 (PRIMEZONE) -- In response to inquiries resulting from its April 14th release, eMax Corporation (Pink Sheets:EMAX) today released the following statement:
It has come to the company's attention that there is confusion over the line drawn between eMax and its minority owned eMax Net subsidiary (EMAXNET) which is one of two companies created by eMax in its first round of business development and now being prepared for public listing. These companies are separate in all respects aside from eMax's investment and minority ownership in EMAXNET. The media and entertainment activities eMax is associated with are a function of EMAXNET, not eMax itself. eMax does not directly participate in media and/or entertainment.
eMax does not intend to directly produce any specific product lines or services or their resultant direct revenue streams and notes that investor expectations to the contrary are, and have been, ill informed. eMax is in the business of identifying unique business opportunities, assets, products, services, plans and talent and bringing those forces together into new ventures which eMax then seeks to bring to the marketplace through its own capital investment and guidance. As each project matures eMax works to take the child company public through merger or IPO thereby returning value to its shareholders in the form of publicly traded stock dividends.
eMax has successfully brought Freedom Entertainment International, Inc. forward and is currently distributing its interests in Freedom to the company's shareholders. eMax is now nearing completion of its second venture with the pending merger of EMAXNET with ReDOX Technology Corp (OTCBB: RDOX) and will soon offer its second stock dividend which, as of today's date, eMax anticipates to be valued at approximately $0.075 (book value) per existing eMax common share or $1.05 (book value) per share after eMax's restructuring.
In a second round of business development, eMax has begun the process of developing eMax Realty Group and eMax Adventures as the first two of four new projects all of which the company plans to bring to the OTCBB by way of IPO and, once again, distribute to eMax Shareholders by way of stock dividends. It is for this reason the company has chosen to restructure its capital. Having already returned significant value to its shareholders by way of the Freedom and EMAXNET dividends, this restructuring makes it possible for eMax to develop new businesses in new markets and continue offering return on investment to its shareholders.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward- looking statements involve risks and uncertainties.