SOURCE: Mike The Pike Productions, Inc.

Mike the Pike Productions, Inc.

January 07, 2010 14:10 ET

Mike the Pike Productions Acquires Serve Nation and

MTP Prods Purchases Charitable Giving Entity for Socially Conscious Business Model

LOS ANGELES, CA--(Marketwire - January 7, 2010) - (PINKSHEETS: MIKP) -- Serve Nation, a multi-dimensional charitable giving entity with a foundation in gift card sales, has been acquired by Mike the Pike Productions, Inc. for an undisclosed amount. The purchase was made in a combination of cash and financing by the previous owner(s) over the course of 18 months and includes all Intellectual Property, domains, client and prospect lists, members, customers and subscribers. Any and all liabilities were not inherited by MTP and will remain with the previous owner(s). The acquisition is something the company is very pleased with as "it's a perfect fit with MTP's 'Pay it Forward' mentality while adding to our overall asset base and revenue streams for shareholders," states MTP CEO, Mark B. Newbauer.

It's also a compelling addition to MTP's New Media division which was announced earlier this week. "The potential here is enormous," Newbauer continues. "We have an existing loyal customer base and a list of prospects and opportunities under negotiation, as adopted under the purchase agreement. That said, we feel that the business model is yet to receive the attention, consistency and diligence it deserves to position it for an attractive buyout if not a permanent profitable fixture in MTP's New Media portfolio. For now, our goal is to build the business; plain and simple. We are currently forming a 501c3 Non-Profit entity which will be utilized to purchase the gift cards at a discount to service the business model." Currently, ServeNation has relationships in place to fulfill this need somewhat seamlessly; however, in order to maximize its potential, MTP is currently overhauling the website/online business model and re-organizing initiatives and strategies.

Shareholders will be updated regularly on this process including the selection of a capable CEO with strategic relationships and business upgrades including technology/mobile application technology and tie-ins.

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