Newsletter | 02/09/2010
The DubLi team is extremely proud to inform that we are now part of a Public Company. DubLi and our affiliated companies merged with MediaNet Group Technologies, Inc., a publicly-traded company. MediaNet Group Technologies is listed on the United States OTC Bulletin Board with the stock symbol of MEDG.
Our primary goal and focus has always been to create long-term shareholder value and a company for which we can all be proud. Being a publicly-traded company allows us the opportunity to further expand this mission and gives way for us to truly create a worldwide shopping enterprise that creates significant worth to our shareholders, business associates and loyal team of employees.
The following is important for your investment understanding:
- The merger closed in the fourth quarter 2009. As a result, we must now comply with the United States Securities and Exchange Commission (SEC) rules, regulations, financial and informational guidelines. There are many filings to be fulfilled by us with the SEC in the next several months and we are in the process of meeting these regulations. The timing of acceptance by the SEC is not exact and we will keep you updated.
- Upon the completion of certain regulatory obligations, you will be issued “restricted” common shares at a ratio of approximately 2.7 of MEDG shares for each DubLi share. In accordance with the SEC, the common shares issued to you will be “restricted”, as defined by the SEC, and therefore a holding period of 12 months is mandatory after which time you can request your common shares to become unrestricted and thereby “free-trading”.
- Your common shares are expected to be distributed to you in the second quarter of 2010 as we fulfill the requirements of the SEC and in accordance with our agreements.
- We will now be filing quarterly reports of operations with the SEC on a timely basis and in accordance with SEC regulations. Our initial filing of operational results will be in mid-February, 2010, reflecting our three months of operations for the period ended December 31, 2009. Following our first report of operations as a combined entity, the market should begin to understand the full potential and value of our company.
Our management team at DubLi has sincerely valued your investment and partnership with us. In the coming months, as permitted by the SEC, our story of growth, success and economic potential will come to light and we look forward to your continued participation in creating long-term shareholder value.
I want to personally thank you for all your support and partnership in creating DubLi’s success in the past and the future.
Respectfully,
Michael Hansen, President and Chief Executive Officer
DUBLI NETWORK Ltd.
197 Main Street
Road Town, Tortola
British Virgin Islands Contact:
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