WINTER GARDEN, Fla., Feb. 2, 2010 (GLOBE NEWSWIRE) -- PrismOne Group, Inc. (OTCBB:PMOZ) announced today that it has entered into a definitive agreement to purchase Professional Interactive Entertainment and its related entities (owned, controlled, parent and/or subsidiary), “GGL Global Gaming” (www.ggl.com). The purchase agreement includes $2.5 million dollars of initial financing, and is a major change to the current PMOZ business plan. PMOZ Chairman and CEO Samir Burshan commented, “this new GGL direction is an exciting growth opportunity for our company. GGL has more than 2.7 million registered members. Their technology is superior and their growth is just now beginning. GGL Chairman Ted Owen said: “The PrismOne acquisition and upcoming GGL website overhaul are key components as GGL significantly expands to a massive slate of offerings for consumers, publishers, developers and advertisers. GGL’s goal of delivering the most comprehensive online experience for gamers across all platforms, genres, gaming styles in a relevant, customized social-networking environment is rapidly becoming a reality. We are looking forward to welcoming and introducing the PMOZ shareholders to our robust family of GGL services as we aim to become the 'Facebook' meeting place for online gaming and related activities.”
About GGL GLOBAL GAMING:
GGL Global Gaming is the ultimate website for the videogamers. GGL offers consumers and publishers a top-level social networking platform that is not only specifically designed for videogame consumers, but integrates thousands of the most popular videogame titles across all genres (First Person Shooter, Sports, MMO, Strategy, etc.), across all platforms (Microsoft Xbox, Sony PlayStation & PSP, Nintendo Wii, PC & Mac) and a wide variety of browser-based, downloadable and mobile games. Accordingly gamers can organize their entire gaming life within a specialized social network and enjoy an experience which combines the connectivity of FaceBook, the community-building and competitive environment of Fantasy Sports and the customization, access and manageability of iTunes. GGL accomplishes this by providing three distinct services: (1) a global community/social-networking platform for gamers which provides gamers with the ability to meet, interact, invite friends and join forces; (2) a fully integrated competition platform which allows gamers to enter into existing competitions, create their own competitions and experience a fantasy sports-style experience; and (3) providing a set of features and tools which allow gamers to aggregate, track, compare and share their scores, game data, accomplishments and gamer lives.
About PrismOne:
PrismOne Group Inc. is an established business based in Orlando, Florida providing managed technology services to targeted vertical market clients with either a high number of employees, multi-locations, or growth challenges. PrismOne solutions significantly minimize or remove technology capital expenditure, driving savings to the bottom line while maximizing flexibility and efficiency. The company has enjoyed rapid growth with no external marketing over the past two years and PrismOne intends to take advantage of the capital in the equity markets to enhance scalability of the company model. http://www.prismone.com
Safe Harbor Statement
This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for fiscal year 2009 and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events. Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, the frequency, magnitude and timing of paper and other raw-material-price changes, general business and economic conditions beyond the Company's control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace, cost-containment strategies, and the Company's success in attracting and retaining key personnel. Additional information concerning factors that could cause actual results to differ materially from those projected is contained in the Company's filing with The Securities and Exchange Commission, including its report on Form 10-K for the year ended December 28, 2008. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information since these statements may no longer be accurate or timely.
This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts.