MediaREADY and Shandong Jiajia International Agree to Extend Letter of Intent until January 31, 2008
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Both Companies Working Towards Completion of Acquisition
FORT LAUDERDALE, Fla., Nov. 16, 2007 -- MediaREADY, Inc.(OTC Bulletin Board: MRED), a provider of innovative interactive, media-convergent entertainment devices,announced today that the company has agreed along with
Shandong Jiajia International Freight & Forwarding Co., Ltd.
("Shandong Jiajia") to extend the previously announced
Letter of Intent for Media Ready to acquire a minimum of a
51% controlling interest in Shandong Jiajia. Shandong
Jiajia, a comprehensive logistics service provider and
international shipping agency, based in Qingdao, Shandong,
China, arranges international land, maritime, and air
transportation for its clients and achieved un-audited 2006
revenues of over $36 million. The agreement was extended as
both companies await government approval, which is
anticipated to be received shortly, and to accommodate the
auditing of Shandong Jiajia.
Jeffrey Harrell, President of MediaREADY, Inc. said, "Both
companies remain committed to completing this acquisition
and are working diligently to achieve the closing of this
transaction. We believe that through this acquisition
MediaReady can achieve a profitable future and an
international presence."
Since 1999, Shandong Jiajia has offered its clients a
comprehensive service package which includes; receipt of
goods, warehousing, transporting shipments, consolidation of
freight, customs declaration, inspection declaration,
multimodal transport, and combined large-scale logistics.
The company has established extensive relationships with
both Domestic and International transportation service
providers. Shandong Jiajia has been the designated agent of
world known shipping companies including; NYK (Nippon Yusen
Kaisha), P&O (Nedlloyd), and RCL (Regional Container Lines).
The company realized a 2006 gross profit of $2.6 million on
over $36 million in revenues (un-audited).
The agreement provides for MediaREADY to acquire at least
51% of Shandong Jiajia. The Letter of Intent now provides
that the parties will enter into a definitive agreement with
expectations of a successful closing of the acquisition by
January 31, 2008.
About MediaREADY Incorporated:
MediaREADY, Inc (OTC Bulletin Board: MRED) is a pioneer in
the media center and portable media device markets offering
products and services that provide consumers with new
gateways to today's digital media and online services;
therefore influencing how consumers are entertained, become
informed, and communicate. The Company has launched several
products in categories including; media center and portable
media center products, customer support and affiliate
promotion services. MediaREADY is focused on delivering
products and solutions that are innovative, affordable, and
easy to use. For more information on the MediaREADY product
line, including purchasing information, visit
http://www.MediaREADYInc.com .
