Webxu CEO Issues Shareholder Update Letter
LOS ANGELES, April 8, 2013 /PRNewswire/ -- Webxu, Inc. (OTCQB: WBXU), a media company that owns and operates a network of consumer branded websites and businesses focused on Customer Acquisition, E-Commerce and Mobile Media, today announced the issuance of a letter by CEO Keith Schaefer, to update shareholders on Company progress.
Dear Fellow Shareholder,
Since our last update to shareholders, we have achieved success in a number of endeavors, which were part of our strategic growth plan set in motion in late 2012. We are pleased to report that recent renewed interest in our stock is a sign of the exposure we are getting in the marketplace as a result of our overall efforts in Q1 2013.
Strengthening Balance SheetThese efforts included a plan to strengthen our Balance Sheet via debt reduction. We recently announced the successful conversion of some shareholder notes into common stock. We would like to add that all investors who converted agreed to do so into restricted shares. This transaction occurred prior to March 25, 2013, and at a nominal discount to market. We feel that this conversion was a big vote of confidence in our overall plan. We intend to continue to improve our balance sheet throughout 2013. We feel that this conversion, plus other anticipated announcements we have in the works, will alleviate the current downward pressure on the stock price and restore a value that more follows the performance of our accomplishments. Acquisition Growth We believe that our Acquisition and Strategic Partnership plan is sound. We have several pending acquisition targets in the current pipeline. We anticipate closing these targets in 2013. We also have a number of synergistic strategic partnerships that are currently in the negotiation stage. We believe these pending transactions fit our overall plan and could dramatically change the financial landscape of the Company in a positive way. We are continuing to closely develop these pending targets and partnerships and we will execute on each opportunity that is accretive to our strategy.
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