NEWS! (Thanks YO) Monday January 14, 7:30 am Eastern Time
Press Release
SOURCE: MPTV, Inc.
MPTV Announces New Trading Symbol, Stock Split and 1-for-1 Stock Dividend
IRVINE, Calif., Jan. 14 /PRNewswire-FirstCall/ -- In a move to enhance its share price and make it more attractive to institutional investors, MPTV, Inc. (OTC Bulletin Board: MPTT - news), an innovator in Timeshare Resort Development, today announced that effective at the open of market on Monday, January 14, 2002, the Company's trading symbol will change from MPTV to MPTT and the Company's common stock will be consolidated in a one-for-ten reverse stock split. The Company will also issue a one-for-one stock dividend to shareholders of record as of Monday, January 21, 2002. The dividend will be paid out to shareholders on Friday, January 25, 2002, and we understand that the stock price on that day will not be adjusted for the dividend.
``As we come closer to closing on major financing and building our timeshare units, MPTV is becoming increasingly attractive to institutional investors. Many of the investors have certain guidelines or parameters they must adhere to in selecting their investments. Based on our direct research and talks with the investment community, a capitalization structure with fewer shares outstanding and a correspondingly higher stock price will put MPTV within the reach of these investors,'' stated Mr. Hurley C. Reed, MPTV's President and CEO.
MPTV, Inc.
MPTV develops and markets timeshare resort properties. The Company's principal asset is a multi-million dollar resort property called Lake Tropicana. MPTV's current project is the Lake Tropicana Timeshare Resort and Towers ( www.laketropmptv.com ) located in Las Vegas, Nevada between the MGM Grand Hotel/Casino and the Aladdin Hotel/Casino on the ``strip'' and the Hard Rock Cafe on Paradise and Harmon Avenue. The ``Harmon Corridor'' is undergoing transformation with two new casino hotels and three large timeshare projects planned for this area.
Shareholder Contacts: Laurel Moody, Vision Consulting, Email laurel@visioncc.net, Calls: 212-446-6109.
Serena Riedel, Email: serenariedel@aol.com.
This press release contains forward looking statements within the meaning of the ``safe-harbor'' provision of the Private Securities Litigation reform Act of 1995 about the Company's financial condition and business prospects that involve substantial risks and uncertainties. You can identify these statements by the fact that they use words such as ``anticipate,'' ``estimate,'' ``expect,' ' ''project,`` ''intend,`` ''plan,`` ''believe`` and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause actual results to differ materially are the following: failure to meet conditions of the loan; increases in interest rates; a decline in the Las Vegas real estate market or the timeshare market in general; and general economic conditions in the United States. A further list and description of these risks, uncertainties and other matters can be found in the Company's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2000 and in its periodic reports on Forms 10-QSB and 8-K (if any). These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.
SOURCE: MPTV, Inc.
