SCOTTSDALE, Ariz., Aug. 17, 2004 (PRIMEZONE) -- Mellon Research, Inc. (Pink Sheets:MLON) the market leader in providing boutique investment banking services to private mid cap companies and offshore firms announced today that it is spinning off its wholly owned subsidiary, Wall Street Securities.
The spin off will not change the number of shares shareholders hold in Mellon Research. The shares to be spun off will be a dividend to shareholders in the form of 1 Wall Street Securities share for every 1,000 MLON shares held on the record date, September 15, 2004. The Company anticipates that post spin-off shares of Wall Street Securities will trade in the range that Mellon's shares traded at before it went through a 200-1 forward split.
A subsequent name change from Mellon Research to Xtreme Club will not affect the number of shares held by the MLON shareholders.
About Mellon Research, Inc.
Founded in the fall of 2003 by Mario Pino, Mellon Research provides comprehensive boutique investment banking consulting services to enable private companies to raise capital via: IPOs, Reverse Mergers, Bridge Capital and or other financial vehicles. Mellon Research is the only multi-national boutique financial services firm that is offering client companies with a structured funding process built around its Financial Prep(tm) services. These services provide client firms with a methodology that helps them analyze existing corporate structure, financial and marketing needs to help them make the right strategic choices necessary to raise capital or go public. For more information please contact Mario Pino, CEO, 602.912.5870, 2415 E. Camelback Road, Suite 700, Phoenix, AZ 85016, mellonresearch@aol.com, www.mellonresearch.com
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.