CHARLOTTE, N.C., Feb. 6, 2008 (PRIME NEWSWIRE) -- Double Eagle Holdings, Inc. (OTCBB:DEGH), announces today that it has acquired a 20% interest in Zatso, LLC in consideration for 5,000,000 shares of its common stock. As part of the acquisition, Double Eagle agreed to loan Zatso up to $350,000 to launch and market the website. In addition, Double Eagle has an option to acquire an additional 20% interest in the Company for a 5 year period.
"After reviewing the Zatso business model and the provisional patent filed by Zatso's attorneys, I believe Zatso can become the ultimate internet site for mining critical data from its users to track social habits of the 'Y' generation," stated Hank Durschlag, President of Double Eagle Holdings, Inc.
Zatso is the ultimate combination of social websploration and gaming. The puzzles are inventive and challenging, covering every subject imaginable. With Zatso, any user can create a profile, browse for friends, make new acquaintances based on common interests, add friends to a customizable list and select from personalized Zatso options for how a Zatso home will look and feel. The competitive nature of Zatso sets it apart, however. Each user receives mental and social puzzles and challenges, including trivia, multimedia challenges, scavenger hunts and more. Daily, monthly and annual prizes will be awarded for members who participate in the competitive games called "Zatso's" (www.playzatso.com).
About Double Eagle Holdings, Inc.
Double Eagle Holdings, Inc. (www.doubleeagleholdingsltd.com) is a closed-end investment company that invests in value-based opportunities that are typically either privately held or considered small or micro cap publicly traded companies. Double Eagle's investment objective is to generate both current income and long term capital appreciation through debt and equity investments. Double Eagle Holdings, Inc. is a registered business development company under the Investment Company Act of 1940 ("1940 Act").
Forward-Looking Statements in this news release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only, and is not an offer or solicitation to buy or sell the securities.