MARINA DEL REY, Calif., Jan. 7, 2005 (PRIMEZONE) -- MAC Worldwide (OTCBB:ISHM) today announced the completion of a stock-for-stock merger with Trafficlogic, Inc., a privately-owned California corporation, and has changed its name to InfoSearch Media, Inc. (the "Company"). In connection with the merger, the Company issued to the shareholders and option holders of Trafficlogic, Inc., 15,860,369 shares of common stock together with options to purchase 1,639,631 shares of common stock in exchange for all the outstanding capital stock of Trafficlogic, Inc. As a result of the merger, the Company has abandoned its current business plan and operations and has adopted the business plan and operations of Trafficlogic, Inc. as its sole business going forward.
The Company has also announced that it completed a private placement of common stock for aggregate net proceeds of approximately $3.4 million. The Company will file a registration statement to register for resale the common stock issued in the private placement.
The Company has also announced that it has sold its wholly-owned operating subsidiary, Mimi & Coco, Inc., a Canadian corporation, to two of its principal stockholders and former members of its management in exchange for 24,301,170 shares of common stock which the Company will retire.
About InfoSearch Media:
InfoSearch Media (http://www.infosearchmedia.com) is a leading provider of content based, cost-effective search engine marketing services. InfoSearch Media is both a search engine marketing firm, and an online media company, which maintains a network of over 200 writers that contribute to its online network of informative content. InfoSearch Media leverages this content to generate highly qualified search engine traffic for its clients. The company also leverages its base of writers to offer professionally written content to its clients. Finally, the company provides web analytic software and other tools to help online marketers analyze their site visitors and improve their return on investment. There are currently over 4,500 clients receiving traffic from the company's network of over 200,000 articles. InfoSearch Media's clients include Netflix, MatchNet, Pitney Bowes, and Price.com.
InfoSearch Media's owns and operates a popular destination site at www.articleinsider.com. ArticleInsider is a collection of informative articles written by industry experts and enthusiasts covering a wide variety of popular topics. These articles feature experienced copyrighters providing information and opinions in areas in which they have particular expertise or knowledge. Internet users can visit the ArticleInsider network in order to review related articles, talk with others about specific subjects through online forums, and explore related websites. InfoSearch Media plans to continue to expand upon its 200,000-page network as it continues to build its client base.
All of the executive officers and directors of the company appointed or elected prior to the merger have resigned. Steve Lazuka has been appointed Director, President and Chief Executive Officer. Mr. Lazuka founded Trafficlogic, Inc. and co-founded Website Results, which was later sold to 24/7 media. Charles K. Dargan, II has been appointed Vice President and Chief Financial Officer. Mr. Dargan is a principal of CFO 911 and has been a CPA since 1980 and a chartered financial analyst since 1998. The company has also appointed Kelly Bakst Vice President and Chief Operating Officer. Mr. Bakst brings over 20 years of operations and information technology experience to the company including extensive experience in the Internet industry.
Mr. Lazuka said, "Our initiatives for quality and high-traffic content have advanced to an exciting new level. By creating this new entity, our goal is to access capital markets to reach even greater levels in the development of targeted, useful content for the public. As we move forward we will be the first company to offer comprehensive content solutions, providing an expert knowledge base, while garnering proven top results in the major search engines."
SEC Filings and Forward-Looking Statements
This press release includes forward looking statements, including the Company's expectations regarding its ability to develop and access capital markets and its ability to achieve expected results in the Internet search industry. The forward looking statements are identified through use of the words "potential," "anticipate," "expect," "planned" and other words of similar meaning. These forward-looking statements may be affected by the risks and uncertainties inherent in the search industry and in the Company's business. The Company cautions readers that certain important factors may have affected and could in the future affect the Company's beliefs and expectations and could cause the actual results to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.
Additional information regarding the merger, the private placement offering of common stock and the sale of Mimi & Coco is contained in the Company's Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on January 5, 2005.