Nashville, TN (PRWEB) May 26, 2006
Upside Development, Inc. (AORO), reports that its shareholders approved an amendment to the articles of incorporation changing the name of the company to AmoroCorp, Inc. (http://www.AmoroCorp.com) Accordingly, the company has been informed by NASDAQ that commencing on or about May 25, 2006, the company's stock will begin trading under the new symbol "AORO."
Additionally, the Company has entered in a Letter of Intent for the acquisitions of all of the assets of JoMo MEDIA GROUP. http://www.jomomedia.com . JoMo Media Group offers PHP and MySQL driven scripts and software. JoMo’s chief product is a highly-customizable and easy-to-use Pay-Per-Click (PPC) Search Engine Script. Such scripts are crucial elements for effective enterprise websites, in the rapidly-expanding online marketplace. JoMo is an affordable program that combines effective and fast keyword search capabilities with extremely detailed tracking of visitors. This helps business owners by providing them with necessary information about their market, to make them more competitive online..
Under the terms of the letter of intent, the assets of JoMo Media Group will be assigned to a newly created subsidiary of AmoroCorp. The transaction is expected to close within the next 30 days.
The shareholders also approved a reverse stock split in a ratio of 300 to 1. No action is required by shareholders as a result of the name change.
CEO Ephren Taylor stated, “We are focused on creating a profitable business structure based on Empowering Communities Through Socially-Conscious Development. We believe these changes will better position us to be effective in our long-range goals.” Taylor is the youngest African American CEO of any publc company.
This press release contains statements that are forward-looking, including comments on future business plans, investments, market conditions, revenue growth, expense management, and outlook. Any number of conditions may occur which would affect important factors in this analysis and materially change expectations. These factors include, but are not limited to, known and unknown risks, changes in technology; success of cost-containment programs; ability to successfully identify, negotiate, close and integrate acquisitions and investment opportunities; shifts in competitive patterns; decisions with regard to products and services; changes in revenues and profits; and significant changes in the market environment. For a description of the foregoing and other factors, investors and others should refer to the company's filings available at http://www.pinksheets.com. AmoroCorp undertakes no obligation to update the forward-looking statements contained herein to reflect changed events or circumstances after today's date.