SCOTTSDALE, Ariz., Sept. 20, 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 the recent restructuring processes have been delayed for 2-3 weeks after the company first made its restructuring announcement in late August. But, that all processes are moving forward in a timely manner and that the company is working on other business processes, acquisitions and or deals that will add value to its bottom line.
"We want to communicate with our investors and the general public and let them know some specific processes are underway and that we will honor all of our previously announced commitments. To that end, we are completing the spin out of Wall St. Securities as a wholly owned subsidiary of Mellon Research, Inc. and are making arrangements to pay the previously announced dividend of one share of Wall St. Securities for each 1,000 shares of Mellon Research, Inc. We are making arrangements to have these shares sent out to all stockholders of record on or before October 15, 2004, said Mario Pino, CEO of Mellon Research, Inc.
"We have completed the web site for Wall St. Securities and are aggressively moving our business processes for investment banking services to Wall St. Securities, Inc. We are running a marketing campaign via Google (the top tier search engine) that is generating some high quality leads for our investment banking services from company based in the U.S. and in Europe and Asia. We anticipate announcing several new contracts for Wall St. Securities within the next 30 days."
"As previously announced, we are changing Mellon Research's business model to launching a physical club, Club XTreme, Ltd. -- we have are now planning on adding value to this business model by acquiring the majority shares, an online gaming casino which will be headquartered offshore in Costa Rica (San Jose). We are in negotiations to acquire a club in this city which will then be retrofitted with all equipment needed for broadcasting interactive video feeds via the web and satellite TV and to provide the rest of our interactive services for the Club XTreme community around the world who will interact with club goers via the web. We believe this enhanced business model will be very successful as another licensee with a similar model was sold for $51M pounds sterling after being in business for just over two years. Our intent is to build a similar valuation for Club XTreme, Ltd.
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: IPO's, 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.