SCOTTSDALE, Ariz., Aug. 25, 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 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 one 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.
Club XTreme, Ltd. -- Executive Summary
Club XTreme defines new ways to blend offline and online entertainment by combining a nightclub that webcasts 24/7/365 streaming video and audio of action inside Club XTreme that can be viewed and controlled remotely by any online user around the world. The first club to open and broadcast will be physically located in Scottsdale, AZ in the United States, with four more Club XTremes to be opened in London, Beijing, Mexico City and Tokyo within 12-18 months. All Club XTremes will utilize a central broadcast facility located and staffed in Mumbai, India which will have redundant T-3 lines augmented with Satellite Uplink and Downlink capabilities which will be staffed on an around-the-clock basis.
All clubs will be accessible through the primary corporate website. This site will act as the central hub for accessing streaming video and related information for individual clubs. Each club will have its own special webcasting events hosted by celebrity VJs and themed parties for men and women, featuring daily, weekly and monthly "hot or not" contests, best pirated images via cell phone cameras posted, free online ads for singles, hottest outfits for men/women seen in the club, etc.
Each physical Club XTreme will have satellite Downlink and Uplink capabilities, with 30 to 50 cameras located throughout the club, including cameras for each "profile" area that can be accessed via the Web and controlled by online users. Each "profile area" will have a chat station set up that will enable people to chat via video, audio (streaming) that is augmented with text.
Club XTreme will eventually broadcast all content in NTSC and/or Pal formats utilizing its satellite communications capabilities and intends to license some of its content to cable and satellite providers. Club XTreme will also license content from other sources such as MTV and major and secondary broadcast networks for webcasting via its online network and/or integrating this content with its own content in creative ways to appeal to markets that may be segmented by language or culture; i.e. with Asian, European, South American, North American themed content channels.
Business Model
Club XTreme is targeting a young global demographic, with primary focus to be 18-35 years of age, as this demographic group is affluent, technically sophisticated and is always seeking new ways to find entertainment online. Club XTreme is already in partnership discussions with some of the world's largest media content and technology providers including MTV, Microsoft, Macromedia, Real Networks, Yahoo and AOL/Time Warner who may provide content, technology and/or launch advertising services in order to secure a long-term partnership with Club XTreme.
Club XTreme will operate for 6-12 months with no charges whatsoever for people who want to access the club's streaming video and audio feeds -- or, until it can generate sufficient traffic to start selling advertising that will be inserted into some of its streaming video and audio broadcasts. Club XTreme will eventually sell advertisers a comprehensive suite of "package deals" (like conventional traditional media companies) that will include online ads that will be geo-targeted utilizing inbound IP Address identification, video and audio inserted ads, "broadcast drive time" ads that will be based on predetermined times of the day or night, embedded ads in the Club XTreme Daily/Weekly Blast Newsletters (which will have audio and video components) sponsorship opportunities that will be event driven or across all "branded Club XTremes" properties. Each Club XTreme will also be set up with electronic advertising boards that are developed for key viewing areas around each profile area (booth seating areas, dance floor, VJ booth, etc.) that can be purchased separately, or for events, or during key webcasting periods, with week-end time slots being priced more expensively.
Financial and Staffing Forecast Fiscal Year 2005 2006 2007 2008 2009 Est. Employees 35 75 150 200 250 Revenue $ 0 $23M $80M $120M $250M Profit (loss) ($4.5M) $ 4M $22M $ 62M $115M
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 multinational 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.