Flemington, NJ, Jul 26, 2013 - Kenergy Scientific, Inc. (KNSC) http://www.knsc.info/ Further to a recent management meeting and the previous filings (8k) of July 5, 2013 and recent notices filed July 12th, 2013, the new KNSC management is using this opportunity to update its followers on various corporate events.
1.The new management, after careful consideration, has decided to terminate immediately merger discussions with PanTuffa Group http://www.pantufagroup.com/ as per the LOI filed. After throughout due diligence was decided that on line trading conglomerate offering services such as Option trading, Forex and Bullion are not a good business fit for KNSC at this time.
2. The new management doesn't want the company to default to a “shell level”. We bring attention to a 8k filed on Jul 1st, 2013 in regards to a completely separate and unrelated merger opportunity namely Sparx Business Media
Sparx Business Media Inc. acts as media aggregator and syndicator that offers Radio, TV, Print, Outdoor, Online, Mobile, Social Media ,and Advertising Solutions through a current worldwide media inventory of over$100MM.
In North America this company has secured an allotment of $35 million dollars of media time/space per annum and secures its space in $5 million dollar media block buys. This revenue is split at a ratio of 50-50% with the media providers. In other words this company has the potential to earn $17,5 million dollars per annum on a net income basis.
The company also maintains commercial relationships in the Canadian mainstream and multilingual media with approx. 200 radio stations, several TV networks and newspaper chains, in the USA general market and multilingual media they have commercial relationships with over 1000 radio stations, various syndicators covering thousands of radio and TV stations, several print media, Outdoor, TV networks, etc.
In other company news and events, the company has made some positive strides with its creditors and the management. KNSC is aware that its critics which utilize public forums to advance their own agenda have relentlessly criticized everyone from its service providers to anyone associated with KNSC. The company acknowledges the patience and the determination of its long time followers and the management is confident that its efforts will soon come to fruition allow all stakeholders to reap the benefits. The company challenges and invites its critics to contact us directly to resolve any grievances.
The merger with Sparx Business Media is imminent and expected to close as per management projections. More updates will follow frequently and on a timely basis. Find us on https://twitter.com/knsc2 .
Safe Harbor Statement
Thispress release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Kenergy Scientific, Inc.
Investor Relations
mair@360-office.com
SOURCE: Kenergy Scientific, Inc.