FORT LAUDERDALE, Fla., Feb. 18, 2010 (GLOBE NEWSWIRE) -- Mobile Media Unlimited Holdings Inc. (Pink Sheets: MMUH) (DE) today announced that the Company has finalized and resolved the vested shareholder status of private placement MMU Inc shareholders vintage 2007/08. As of end of business today, the Company's issued capital has grown to 187,390,046 (100%) issued and outstanding common shares, of which 48% (or 89,073,730) are restricted shares held by shareholder(s) in certificate form. The MMUH public float or CEDE account stands at 65,980,658 (or 35%) of the issued and outstanding (EOB 2/18/10).
Gary Freeman, President of MMUH, stated, "We are delighted that some of the old MMU shareholders took this liquidity opportunity. Most of these shareholders are taking an approximate 90% loss on their original investment. Naturally, we value those investors that decided to stick around. New investors and new ideas regarding the scale, availability and marketing of E-Cigarettes are in a mode of constant flux and we continue to enjoy the disruptive nature of the business."
TzuFuma Inc. is a wholesale distributor business of Electronic Cigarettes. Electronic Cigarettes or E-Cigarettes are technological marvels which have the look, taste and feel of a real cigarette without any combustible components and produce water vapor instead of second hand smoke. The advantages of this product are apparent since no actual smoke by-product is created, users have the freedom to enjoy smoking in establishments currently smoker unfriendly.
Robert Paterson, President of TzuFuma Inc., commented, "We are in the middle of vertical deployment of several white label lines, including, but not limited to the US Military. This is a very exciting time for the Company and I personally believe 2010 is going to be a bumper year."
Forward-Looking Statement: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in plans and schedules, or market acceptance.