Mount Knowledge Holdings, Inc. -- Corporate Update
NEW YORK, NY--(Marketwire - Oct 2, 2012) - Mount Knowledge Holdings, Inc. (OTCBB: MKHD), a software development and sales company focused on providing innovative technology solutions to the global marketplace, is providing an update on its business activities for the first three quarters of 2012.
The Company divested of its China operations due to lack of available financing options and continues to pursue a business strategy of acquiring additional product lines and/or companies in various areas of technology and communications.
The Company is currently undertaking completion of its December 31, 2011 audit and required public company filings, in order to become current in its 1934 Exchange Act filings.
Under the guidance of its investment banking and other advisors, management has recently pursued discussions with a new acquisition target, in the mobile communications (Mobile Virtual Network Enabler/Mobile Virtual Network Operator) and cloud products VAR business lines. This potential acquisition target's growth, revenue and profitability meet the Company's criteria for acquisition. The Company is endeavoring to advance discussions toward an LOI in the near-term.
To date, the Company has not executed a definitive agreement with an acquisition target and there is no guarantee or assurance that the Company will execute a definitive agreement with an acquisition target in the near future.
About Mount Knowledge Holdings, Inc.
Mount Knowledge Holdings, Inc. is a software development and sales company focused on providing innovative technology solutions to the global marketplace.
Forward-Looking Safe Harbor Statement:
This press release, other than historical information, contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and are subject to risks and uncertainties. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations about the Company's future performance, taking into account information currently available to the Company. The Company will update this forward-looking information only to the extent required under applicable securities laws. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these forward-looking statements. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the Commission are available from commercial document retrieval services and at the website maintained by the Commission at http://www.sec.gov.