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PYBX Hydro Power Technologies Inc (PK)

0.0158
0.00 (0.00%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Hydro Power Technologies Inc (PK) USOTC:PYBX OTCMarkets Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0158 0.0089 0.0158 0.00 14:30:00

PlayBOX to Purchase Delta Music

27/05/2008 11:15pm

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Hydro Power Technologies (PK) (USOTC:PYBX)
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LONDON, UNITED KINGDOM Inc. ("PlayBOX") (OTCBB: PYBX), today announced it has signed a formal Share Purchase Agreement to purchase 100% of the issued capital of Delta Leisure Group Plc ("Delta"), an established record company with an extensive catalogue of major music CD's, DVD's and videos throughout the UK and Europe.

The pending acquisition represents a significant milestone in PlayBOX's plans to become a world leader in the marketing and distribution of global media entertainment. Once completed the merger will provide the combined PlayBOX group with real advantages for growth in a fragmented market. The enlarged management team already have three further acquisitions in their sights in the area of IP and copyright ownership, music to mobile platform in niche social networking, and advertising funded downloads.

Says Robert Burden, CEO of PlayBOX, "Once this acquisition is complete, PlayBOX will control over 700 retail outlets in the UK, giving it the ability to quickly and effectively distribute newly purchased content. It's a tremendous competitive advantage."

Furthermore, Delta demonstrated growth and profitability consistently over the past 12 years. PlayBOX intends to perpetuate Delta's success while it also focuses on additional acquisition targets.

"Delta is just the beginning," says Burden, "PlayBOX has plans for aggressive growth through the further acquisition of complementary media entertainment businesses for the mutual benefit of the companies, emerging music artists, and PlayBOX shareholders alike." The Company and its Directors have already identified 3 new target acquisition Companies, and are presently in negotiations to acquire them.

About Delta Music

Since its inception in 1993, Delta during the last 15 years has become one of the most successful independent UK record companies, manufacturing and distributing entertainment products with client distribution outlets including Universal, Asda, Tesco, Aldi, Sit-Up TV, TK Maxx, Toys-R-Us and Sainsbury's. Delivering constant growth in revenues year on year since 1993, and last year delivering US$14million in revenues and US$1million in ebitda unaudited, Delta is positioned for further growth in a fragmented music industry. The company's extensive catalogue of CD's boasts a wide range of genres including classical, pop, rock, jazz and new age. As a leading independent label, Delta is able to move swiftly in the market place, and make exciting projects come to life quickly. In addition, Delta was an early mover in the growing on-line digital download industry. For more information, visit www.deltamusic.co.uk.

About PlayBOX

PlayBOX is a media entertainment technology company that offers a wide variety of distribution channels for new music artists. The company targets emerging artists and small-to-medium sized record labels that lack the knowledge or resources to setup and manage their own online shop and distribution channels. PlayBOX offers them pooled services such as hosting, streaming, e-commerce, and digital rights management, and an overall cost-effective and professional platform from which to sell and promote their music. To better serve them, PlayBOX is aggressively growing its traditional (retail) and non-traditional (digital, online and mobile) distribution channels so artists can reach their waiting public even more quickly and easily. Through a series of strategic mergers and acquisitions, PlayBOX will become a world leader in the distribution and marketing of global entertainment media. Further, it aims to expand its distribution business to the exciting new platform of delivering content to mobile phones throughout the world.

FORWARD-LOOKING STATEMENTS:

Statements about PlayBOX's and Delta's future expectations, including the completion of the acquisition of Delta by PlayBOX, future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. PlayBOX's and Delta's actual results could differ materially from expected results. Neither PlayBOX or Delta undertakes any obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this objective; PlayBOX and Delta will appropriately inform the public.

Contacts: PlayBOX (US) Inc. Harry Maloney +44 (0) 7717201313 Email: investor@play-box.com Website: www.play-box.com

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