Welcome!

Artificial Intelligence Authors: Zakia Bouachraoui, Liz McMillan, Pat Romanski, Carmen Gonzalez, Yeshim Deniz

News Feed Item

Cinnabar Ventures, Inc. Acquisition of YIPPY, Inc. Is Finalized

FORT MYERS, FL -- (Marketwire) -- 01/26/10 -- Cinnabar Ventures, Inc. (OTCBB: CNBR) ("Cinnabar" or the "Company") announces the completed acquisition of YIPPY, Inc., a private Delaware corporation ("YIPPY"). Pursuant to the share exchange agreement dated January 25, 2010 (the "Agreement"), by and among Cinnabar, YIPPY and the shareholders of YIPPY (the "YIPPY Shareholders"), the YIPPY Shareholders exchanged 100% of the outstanding stock of YIPPY for 2,340,000 shares of Cinnabar's common stock, representing approximately 10.51% of the issued and outstanding capital stock of Cinnabar, post-acquisition. Pursuant to the terms of the Agreement, YIPPY became a 100% wholly-owned subsidiary of Cinnabar. Richard Granville, Chief Executive Officer of Cinnabar, is also the Chief Executive Officer and former majority shareholder of YIPPY.

To date, YIPPY has primarily served as a holding company for various computer technology assets. Richard Granville, Cinnabar's Chairman and Chief Executive Officer, was optimistic with regard to the value the YIPPY assets bring to the Company. He said, "The YIPPY acquisition is significant in that it affords us the opportunity to rapidly deploy key elements of our Company strategy. In particular, it allows us to fully enable our media and software efforts for our target markets."

Rick Lisa, the Company's President and Chief Operating Officer, added, "The YIPPY acquisition contains specially developed software capabilities that allows Cinnabar to implement our distribution strategy for owned content, applications and client software to the youth and family markets, which is a key focus of our business."

Beyond the applications and client software, the YIPPY acquisition integrates the Company's Cloud OS and database structures, which are critical to the operation of the Company and implementation of systems that will also enable Cinnabar's rapid deployment of business to business capabilities.

Through the acquisition of the YIPPY properties, Cinnabar will be able to customize user environments and match those to the operational needs of the Company's business partners.

Mr. Granville continued, "Given the advanced state of the tools YIPPY brings to Cinnabar, we will be able to rapidly integrate our businesses and begin deployment of revenue producing cloud solutions within weeks of completing the transaction."

About Cinnabar Ventures, Inc.

Based in Fort Myers, Florida, Cinnabar Ventures, Inc., www.cinnabarcompany.com, is a new economy technology company that develops technologies and relationships for Web-OS systems in the Cloud computing sector.

Forward-Looking Statements

Pursuant to The Private Securities Litigation Reform Act of 1995: The statements in this press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. We assume no obligation to publicly update or revise any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release, even if new information becomes available in the future. Additional information on risks and other factors that may affect the business and financial results of Cinnabar Ventures, Inc. can be found in the filings of Cinnabar Ventures, Inc. with the U.S. Securities and Exchange Commission.

Add to Digg Bookmark with del.icio.us Add to Newsvine

CONTACT:
Nancy Tamosaitis-Thompson
Vorticom, Inc.
212.532.2208
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

IoT & Smart Cities Stories
There are many examples of disruption in consumer space – Uber disrupting the cab industry, Airbnb disrupting the hospitality industry and so on; but have you wondered who is disrupting support and operations? AISERA helps make businesses and customers successful by offering consumer-like user experience for support and operations. We have built the world’s first AI-driven IT / HR / Cloud / Customer Support and Operations solution.
Codete accelerates their clients growth through technological expertise and experience. Codite team works with organizations to meet the challenges that digitalization presents. Their clients include digital start-ups as well as established enterprises in the IT industry. To stay competitive in a highly innovative IT industry, strong R&D departments and bold spin-off initiatives is a must. Codete Data Science and Software Architects teams help corporate clients to stay up to date with the mod...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Druva is the global leader in Cloud Data Protection and Management, delivering the industry's first data management-as-a-service solution that aggregates data from endpoints, servers and cloud applications and leverages the public cloud to offer a single pane of glass to enable data protection, governance and intelligence-dramatically increasing the availability and visibility of business critical information, while reducing the risk, cost and complexity of managing and protecting it. Druva's...
BMC has unmatched experience in IT management, supporting 92 of the Forbes Global 100, and earning recognition as an ITSM Gartner Magic Quadrant Leader for five years running. Our solutions offer speed, agility, and efficiency to tackle business challenges in the areas of service management, automation, operations, and the mainframe.
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
DSR is a supplier of project management, consultancy services and IT solutions that increase effectiveness of a company's operations in the production sector. The company combines in-depth knowledge of international companies with expert knowledge utilising IT tools that support manufacturing and distribution processes. DSR ensures optimization and integration of internal processes which is necessary for companies to grow rapidly. The rapid growth is possible thanks, to specialized services an...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Scala Hosting is trusted by 50 000 customers from 120 countries and hosting 700 000+ websites. The company has local presence in the United States and Europe and runs an internal R&D department which focuses on changing the status quo in the web hosting industry. Imagine every website owner running their online business on a fully managed cloud VPS platform at an affordable price that's very close to the price of shared hosting. The efforts of the R&D department in the last 3 years made that pos...