Scottsdale, AZ (PRWEB) October 6, 2006
Hampden Group, Inc., (OTC PK: HPNG), a financial services company specializing in sub-prime loan programs, today announced that it has completed a share exchange with Color Genesis, Inc., a Georgia corporation currently doing business as MyPhotopipe.com, Inc. Going forward, Hampden Group, Inc. stock will be traded under the new symbol “MPPC” on the Pinksheet Exchange and the company will change its name to MyPhotopipe.com, Inc., a Nevada corporation.
MyPhotopipe.com, Inc., a Georgia-based on-line photo processing lab, provides a variety of services and tools through their website to insure the high level of quality expected by serious amateur and professional photographers alike. With 25 years of experience and millions of pictures processed, MyPhotopipe.com’s website serves the processing needs of over 2400 studios, and professional photographers.
Under the terms of the merger, all of the outstanding shares of MyPhotopipe.com common stock were transferred to Hampden Group for 220 million shares of Hampden Group common stock. Hampden Group shareholders received certificates for new shares in MyPhotopipe.com, Inc., at a 10 to 1 reverse split in exchange for their original Hampden Group shares. Former Hampden Group board members resigned their positions after electing new board members selected from the management of MyPhotopipe.com, Inc.
As a condition of this reverse merger, Hampden Group had to be free of all debt and liability. To accomplish this task and clear the way for this merger, the assets and substantial liabilities of Hampden Group, Inc. were acquired by Hampden Group Holdings, Inc., a privately-held, Nevada Corporation representing former Hampden Group, Inc. debt-holders.
"When we took over the company in September of last year, it was with the understanding that it would be properly funded to execute our vision for a viable and profitable business. After a year of executing on a shoe-string budget, it became very clear that continuing on this path would not yield a successful result." said Randy Humphrey, CEO of Hampden Group, Inc. "We see this as a great opportunity for Hampden Group investors to realize some return on their original investment."
About Hampden Group, Inc.
Hampden Group, Inc. (HGI) (OTC PK: HPNG) founded in 2004, is a publicly traded financial services company headquartered in Scottsdale, Arizona. HGI owns and operates several Internet websites providing short-term financing in the lucrative sub-prime loan market. The Hampden Group is currently engaged in the business of funding payday loans/cash advances, auto title loans, providing 3rd party financing programs for independent auto dealerships, and cash advance outsourcing for Professional Employer Organizations (PEOs), employers, and payroll processing companies.
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Certain statements made in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the plans and objectives of management for future operations and anticipated results of operations. For this purpose, any statements contained herein or incorporated herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words, “believes”, “anticipates”, “proposes”, “plans”, “expects”, and similar expressions are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements made in this press release are based on current expectations that involve numerous risks and uncertainties, including but not limited to those that might be described herein. Although the Company believes that its assumptions are reasonable, any of the assumptions could prove inaccurate.