SOURCE: Elysium Internet, Inc.

Elysium Internet, Inc.

March 23, 2011 09:48 ET

Elysium Internet Secures Extension of Conversion Freeze From Debt Holders

TAMPA, FL--(Marketwire - March 23, 2011) - Elysium Internet, Inc., DBA www.TheDirectory.com (PINKSHEETS: EYSM), an emerging leader in the Local Business Search Market, today announced that it has secured a 30 day extension from debt holders relating to converting debt to equity.

www.TheDirectory.com Founder and CEO Scott Gallagher commented, "I'm excited to advise our shareholders that the active debt holders have agreed to extend the freeze on stock conversions for another 30 days through May 15th. We are on the verge of reporting our fifth consecutive month of top-line revenue growth and achieving sustainable profitability. Based on our March results so far, the debt holders have agreed to not convert any debt to shares for another 30 days and begin further discussions during mid to late April." Gallagher continued, "Our business momentum continues: the first two days of this week alone were records for us in terms of phone calls generated to our clients. We have launched our first local group buying discount campaign for a local Tampa area dentist and we'll report our fifth consecutive month of top-line revenue growth for the month of March."

About Elysium Internet, Inc.

Elysium Internet, Inc., DBA www.TheDirectory.com, is an emerging leader in the local advertising, search and publishing space. The Company operates a direct navigation-based Internet advertising network anchored by its local business search engine TheDirectory.com. Elysium builds targeted professional directories over category killer Dot Com and Dot Net domain names such as www.TheDirectory.com, www.Podiatrists.com, www.Chiropractor.net, www.Psychiatrists.com, www.Pediatricians.com, www.Dietitians.net, www.Therapists.net and others. For more information visit the Company web site www.ElysiumInternet.com. Review the Company's other filings on www.OTCMarkets.com.

Forward-Looking Statements

Certain statements contained herein are "forward-looking" statements (as defined -- Private Securities Litigation Reform Act of 1995). Elysium Internet, Inc. cautions that the statements made in this press release constitute forward-looking statements and not guarantees of future performance, and actual results or developments may differ materially from projections made. Forward-looking statements are based on estimates and opinions of management at time the statements are made.

Contact Information

  • Media Inquiries Contact:
    Scott Gallagher
    727-417-7807
    Email Contact