LinkedWords.com declines a deal!
"Bellevue, WA, Mountain View, CA, (MARKETWIRE) - Nov.27 2006 - EXIM Internet Group Inc. (OTC: EXGN.PK), operator of B2B web properties and LinkedWords.com, a large-scale and rapidly growing contextual platform changed their strategic options announced earlier this year.
The license agreement announced in May 2006 has changed over time and under the most recent deal terms EXIM was pursuing a 20% equity stake in LinkedWords.com plus an exclusive license to operate the site in return of 70% of its stock plus $5M equally payable over the next 5 years to the owners of LinkedWords.com.
Although EXIM and LinkedWords.com generally agreed upon the terms of the proposed license/participation deal, the ratification of this deal did finally not take place, because the majority of the LinkedWords.com shareholders have changed their strategy and decided to remain a fully private company.
The fact that LinkedWords.com's marketing, business and financial strategies should not be subject of the stringent reporting and publicizing requirements of a public company was the reason for the decision of the LinkedWords.com owners to stay private. These strategies concern - among others - the following:
a) The web 2.0’s dynamically changing environment does
b) The rapid expansion models employed and widely adopted within the web 2.0 industry require LinkedWords.com to act quickly;
c) In regard to the innovativeness, uniqueness and highly proprietary nature of LinkedWords.com’s concept, idea & business model LinkedWords.com owners prefer not to comply with the reporting requirements by a public entity;
d) Technologically unique architecture of the 38-million-page large web 2.0 contextual platform;
e) Rapid growth in the traffic demonstrated over the past 5 months since its launch in June '06 calls for rapid decisions on a daily basis;
f) Obvious potential of rapidly becoming a mainstream popular web site needs sensitively strategic movements, decisions and implementations, which only a private structure can offer;
g) The Web 2.0 industry’s nature, trends, expansion
models and beyond; and
h) Only few companies from the Web 2.0 age are publicly traded in the first years of their existence.
Both companies, however, decided to further keep exploring options for a possible cross participation in the future, mutually beneficial to both parties.
“We in EXIM Internet Group, Inc. respect the decision of LinkedWords.com shareholders, and look forward to potentially find a way for some form of reciprocal participation,” said EXIM’s CEO. “The shareholders and the management of our company, which is a major and well-known b2b web site operator within the minternational trading and import / export industry, will now continue to concentrate on its core corporate strategy to retain the leading position in this growing world market of international trade.”
About EXIM Internet Group, Inc. (OTC: EXGN.PK)
(http://eximinternet.com)EXIM Internet Group, Inc. is an operator of B2B web sites with more than 1,500,000 content-rich industry specific pages under management. The company intends to acquire and operate companies, web sites, projects, and ventures in Export/Import and International trading industries.
LinkedWords.com is all about finding relevant information on demand at the right time and place within the content's context of any possible page around the web by clicking on hyper-linked words contextually incorporated by the web publishers within the text one reads there. It is a unique concept built upon a 38-million-pagelarge WEB 2.0 contextual platform."