Burbank, CA – May 6, 2009 — Zuma Beach Entertainment, Inc (“Zuma”) (Pink Sheets: ZMBC) announced today that it will enter into an asset purchase agreement to acquire the assets of Exchangemall.com, Inc (“Exchangemall”) including First National Information Network, Inc., (“FNIN”) along with SalesRide.com, Investor Concepts, Fast Info 1, and the URL of Exchangemall.com, Inc. The all-stock transaction is valued at
$8.5M, a purchase price that represents a premium of approximately 50% over the $0.21 valuation assigned by ERISA Valuation Associates within their 2008 Limited Scope Fractional Interest Market Valuation Report of Exchangemall.
FNIN has helped thousands of companies generate new business and raise hundreds of millions of dollars through their accredited and pre qualified sales leads. Throughout nearly two decades of service, FNIN has developed experience in procuring leads for entrepreneurs, commodity brokers, stockbrokers, oil-drilling companies, movie producers, and thousands of ambitious sales teams.
SalesRide.com utilizes state-of-the-art data generation and quality control facilities, to manage a data warehouse with an availability of over 700,000 high quality sales records that have been qualified and appended for data accuracy to service B2B and B2C needs of a wide range industry. The advanced technology available through SalesRide.com will allow FNIN to expand its customer base, increase revenue, and cut overhead costs.
Investor Concepts is a financial and investing publication designed for the active investor. Investor Concepts magazine is published 6 times per year, and provides subscribers with market-timed investing alerts, coverage of investing opportunities in such areas as Commodities, Foreign Exchange, Private Placements, etc. Revenues are derived through advertising sales, which in turn enhance the products and services offered via FNIN.
Zuma’s management team has given careful consideration to the asset purchase and believes the acquisition will deliver significant value for both companies. It will provide increased liquidity for Exchangemall shareholders by affording the opportunity for its private shareholders to become an active shareholder of a publicly traded entertainment company. More importantly, the asset purchase, “…will deliver superior value to Zuma’s combined shareholder base, create a positive impact on our balance sheet and strengthen our market position to allow for greater access to capital, enhance our ability to more competitively negotiate future acquisitions and build a foundation to achieve sustained revenue growth.”
The sale of Exchangemall’s assets to Zuma is subject to certain conditions including: (i) completion of due diligence of Exchangemall by Zuma, and (ii) the affirmative vote of at least 66 2/3 of the votes cast in person or by proxy at the Annual and Special Meeting of Exchangemall shareholders on May 27, 2009.
ABOUT ZUMA BEACH ENTERTAINMENT, INC.
Zuma Beach Entertainment is engaged in the business of producing, distributing, marketing, acquiring licensing, and selling motion pictures, television programming and sports entertainment products. The Company aims to build a comprehensive entertainment library that exceeds consumer demand for high quality, captivating entertainment with an objective of creating maximum shareholder value.
ABOUT EXCHANGEMALL.COM, INC.
Exchangemall is a diversified company with interests in businesses in the service industry, technology, and Internet e-commerce, the most important of these being First National Information Network (“FNIN”). FNIN sells pre-qualified business and investor leads and contact databases, as well as value-added services, to businesses throughout North America. Exchangemall’s mission is to create and operate successful and innovative businesses thereby creating worth and value for our shareholders.
SAFE HARBOR STATEMENT
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws. Such forward-looking statements are based on the beliefs of our management as well as assumptions made
by and information currently available to them. The Company has no obligation to update such forward-looking statements. Actual results may vary significantly from these forward-looking statements based on a variety of factors.
