ORLANDO, Fla., June 14, 2004 (PRIMEZONE) -- eMax Holdings Corporation (Pink Sheets:EMXC) announces restructuring changes.
The Company notes the restructuring was completed and effective in the capital markets on May 27, 2004. In conjunction with the restructuring, the company notes it has effected a name change from eMax Corporation, previously trading under the ticker symbol EMAX (Pink Sheets), to eMax Holdings Corporation, to better reflect its business model and to further reduce investor confusion between the business operations of the parent holding company and its subsidiary companies. eMax Holdings Corporation is now trading under a new CUSIP number and under a new ticker symbol, EMXC (Pink Sheets).
eMax Holdings Corp currently manages a portfolio of four subsidiary companies: eMax Net, Inc.; eMax Realty Group; eMax Alive Technologies; and Freedom Entertainment International. In addition, the company is currently negotiating with two startup companies in the technology sector.
- eMax Net, Inc.: The most mature of the eMax subsidiaries, EMAXNET, is a family-oriented media, production and broadcast company. Previously, EMAXNET had planned to merge into one of two different Nasdaq companies. EMAXNET will now plan to grow its operations internally and in the near future determine the best path to provide a separate stock dividend to the eMax Holdings Corporation shareholders
- eMax Realty Group: a real estate development company currently working on several commercial retail properties, entertainment venues and high-end residential development and is currently negotiating real estate acquisitions in Central Florida and Colorado.
- eMax Alive Technologies, Inc.: the newest of the eMax subsidiaries with a focus on live interactive media, entertainment and communication technologies.
- Freedom Entertainment International: an entertainment events production and merchandising company with strong ties to motor sports in general and motorcycles in particular. eMax Holdings Corporation is currently divesting its interest in Freedom Entertainment by way of a stock dividend to eMax shareholders announced in March of 2003.
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.