 PHOENIX, AZ (MediaMax Technology) - MediaMax Technology Corp. is moving forward with its planned merger with SunnComm International Inc. An amended merger agreement will take into consideration both the recently negotiated MediaMax marketing agreement and an interim management team. The amended merger agreement will refer to the recently negotiated marketing agreement which, among other provisions, allows MediaMax to market and sell all SunnComm products without restriction. The merger agreement will also establish an interim management team that will assume day-to-day operations of MediaMax during these final phases of its planned merger. Eventually, the interim team is expected to manage the surviving merged organization. MediaMax Technology's Board of Directors is currently reviewing the modified plan for the proposed merger, which is expected to become effective as soon as possible. Of course, audited consolidated financial statements from MediaMax Technology Corp. and SunnComm International, Inc will be included in the filing of an S-4 registration statement with the SEC. Much of this work was completed at the end of last year and has been kept current, so it is anticipated that completion of this requirement should not cause an unreasonable filing delay. As previously announced, the companies anticipate exchanging all outstanding SunnComm shares for MediaMax shares on a one for one (1:1) basis, subject to an independent fairness opinion. The newly negotiated MediaMax marketing agreement with SunnComm International, Inc. takes into consideration the consolidated interim management team and the proposed merger. Scott Stoegbauer, MediaMax's interim president comments, "The primary purpose of the Company's short-term goals is to move both companies beyond the industry-wide developments of last November. The timing of this merger should allow both organizations to share in future revenue and other benefits leveraged by MediaMax Technology's contacts and alliances along with SunnComm's newest products, technologies, concepts and other intellectual property ('IP')." "The Company has recently established that certain IP owned by SunnComm might be financially leveraged through proposed acquisitions by certain MediaMax technology partner(s). These assets coupled with anticipated major funding, the combined resources of the companies, the new management team and recently-announced alliances, together with their anticipated revenue streams are expected to greatly assist the merged company in its intended elevation to a major exchange."
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