WILMINGTON, DE--(Marketwire - December 16, 2009)
Dear Shareholder,
In our most recent shareholder update, (News To
Share, September 2009), I promised you an update on Miccoworld, one of
our portfolio companies.
Universal Capital Management (OTCBB: UCMT) added Miccoworld as a portfolio
company in July 2008 because we believed in the company's business plan
and, more specifically, in its relationship with Fuzebox Inc. Fuzebox is a
leading IT solutions company led by an accomplished management team with a
very successful track record. To the best of our knowledge Miccoworld is
having difficulty in securing a licensing right to the brand relationship
software being developed by Fuzebox. Therefore, at this time we are
uncertain as to the direction Miccoworld is going with its business plan.
In light of this recent development a new entity called Mediavix has been created and
remains our latest portfolio company. Mediavix will have the licensing
rights to the leading edge brand relationship platform being developed by
the Fuzebox team. Mediavix will be lead by top-notch executives. Paul
Wright is the primary driving force behind recent enhancements to the brand
relationship platform. Paul previously founded 2 successful companies,
produced 2 short documentaries, and generated revenue and value on the
creative, financial and analytics sides of the media industry. Marjorie
DeHey Daleo has a law degree from California Western School of Law and an
MBA from the University of California, Los Angeles - The Anderson School of
Management. Marjorie has experience in rights acquisitions, entertainment
and digital media strategies, and competitive intelligence. Les Ottolenghi,
Co-Founding Partner at Fuzebox, Inc., has agreed to serve on the board of
directors for Mediavix. "I am thrilled to have these two highly
accomplished professionals running Mediavix," says Ottolenghi.
Mediavix recently signed a management agreement with Universal Capital
Management. "A successful business depends on identifying a problem,
building the solution to address the problem, and then finding the right
managers to aggressively execute the business plan. Mediavix has done
exactly that, and I am very proud to welcome Mediavix to our family of
portfolio companies," said Robert Oberosler, President UCM.
"We have a very compelling story and investor opportunity," says Michael
Queen, UCM Chairman & CEO. "Knowing the business plan and the potential for
significant profitable revenue in the Company's early stages, we have
decided it is in the best interest to take Mediavix to the public markets
as quickly as possible. This will allow them to have access to larger pools
of capital financing as they quickly grow their client base and make timely
acquisitions to build the brand and expand the platform."
For more information on Mediavix and investment opportunities please feel
free to contact Universal Capital Management at 302-998-8824, Paul Wright
(pwright@mediavix.com) or Marjorie Daleo (mdaleo@mediavix.com) at
800-670-6293.
Please note: Miccoworld continues to be a UCM holding. We will update our
investors as new developments become available.
Sincerely,
Robert Oberosler
President & COO
Universal Capital Management
About Universal Capital Management, Inc.
Universal Capital Management, Inc. is a publicly traded business
development company under the Investment Act of 1940. Its purpose is to
provide an opportunity for its shareholders to diversify risk by investing
in a fund that assists its portfolio companies to grow and increase in
value. Please refer to the company's website at http://www.unicapman.com.
Forward-Looking Statements
The information contained in this press release may contain
"forward-looking statements." You can identify these statements by use of
the words "may," "will," "should," "plans," "explores," "expects,"
"anticipates," "continue," "estimate," "project," "intend," "believe," and
similar expressions. Forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially from
those projected or anticipated. These risks and uncertainties include, but
are not limited to the following which could affect Universal Capital
Management, Inc. or one or more portfolio companies: general economic and
business conditions, effects of continued geopolitical unrest, competition,
changes in technology and methods of marketing, delays in completing
various engineering and manufacturing programs, changes in customer order
patters, changes in product mix, continued success in technological
advances and delivering technological innovations, shortages in components,
production delays due to performance quality issues with outsourced
components, and various other factors beyond the Company's control. The
Company assumes no obligation to update publicly or revise any
forward-looking statements.
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