AXESS MEDIA Moves to Clear Regulatory Hurdle
Company Filing to Set Aside 2005 Default Cease and Desist
Las Vegas, NV (PRWEB) July 16, 2007 -- The AXESS MEDIA Group, Ltd. provided notice today, that pursuant to administrative rules and procedures established by the U.S. Securities and Exchange Commission, the Company will now seek to set aside a default October 20, 2005 administrative order to cease and desist; and move toward more formalized regulatory reporting and registration of its affiliated business activities.
The announcement follows a reorganization and merger with The MEDIA GLOBO Corporation (OTC : MDGB) (MDGB.PK) ; which became effective March 12, 2007; and was overwhelmingly approved by the MEDIA GLOBO shareholder(s) as of July 6, 2007. Under the Plan of Merger, certain operational changes for AXESS MEDIA were implemented and are further planned; including: tighter regulatory compliance; independent audit(s); and legal, accounting and investor relations services by reputable service providers.
Certain individuals and firms, who were in fact involved with AXMG or its predecessor, BioLogix International, Ltd. (OTCBB / OTC: BGIX), but were disavowed or disputed by initial SEC staff findings, as well as the material accuracy of information published on an AXMG website in July, 2004, and the inability of the Company to appear at a 2005 hearing, due to circumstances beyond its control, will now be addressed.
Any AXESS MEDIA procedural motion to set-aside the prior default order is expected to present new detailed argument and supporting factual evidence that neither a temporary nor permanent cease and desist order are properly warranted, nor further necessary; and that any on-going regulatory concerns or restrictions, particularly as they may relate to the activities, as well as effecting the reputations, of both The AXESS MEDIA Group, Ltd. and its CEO, Michael D. Grandon, should now be lifted and the record cleared.
Under administrative rules of practice, the Company understands the Commission is not required to publish its findings. Further information on this matter and governing rules and procedures may be obtained on-line at: http://sec.gov/litigation/admin/33-8606.pdf ; http://sec.gov/litigation/admin/33-8629.pdf ; and http://sec.gov/rules/final/ruleprac.txt .
Safe Harbor Statement
Included in this press announcement and referenced hereunder are AXESS MEDIA Group, Ltd. forward-looking statements and projections within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations reflected in such forward-looking statements will prove to be correct nor relied upon for investment purposes.
Copyright 2007
The AXESS MEDIA Group, Ltd.
All Rights Reserved
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