SOURCE: eWorld Companies, Inc.

September 30, 2009 15:34 ET

eWorld Companies Rejects Purchase Offer, Schedules Conference Call for Shareholders

LOS ANGELES, CA--(Marketwire - September 30, 2009) - eWorld Companies, Inc. (PINKSHEETS: EWRC) has rejected an offer from Level Vision Electronics, Ltd. to purchase all outstanding shares of eWorld stock for 1.9 cents per share. The offer had been tentatively accepted by eWorld's Board of Directors pending completion of due diligence and counsel approval. However, the offer as it currently stands failed to garner the approval of either the company's counsel or its preferred shareholders and has been rejected. The company has also scheduled a shareholder conference call with Chairman and CEO Henning Morales and its Securities Counsel for Friday, October 2 at 9:30 AM PDT. Call-in information will be posted on eWorld's website and on the Boomerang Media Station™.

Mr. Morales commented, "This decision is by no means a negative comment on Level Vision Electronics. We believe the offer was very real and attractive; however it does not adequately address the needs of the company's shareholders. This is not the first time we have been approached about a buyout offer and we don't expect it to be the last. eWorld is not actively seeking a buyout; however, the company will always consider reasonable offers, whether from Level Vision or from other suitors."

ABOUT EWORLD COMPANIES, INC.

eWorld Companies, Inc. markets and distributes cutting edge Internet technologies including its patent-pending Boomerang Media Station™, a free Internet application that features exclusive and third-party movies, music videos, webcasts and other streaming video content delivered via its unique state-of-the-art broadcast quality video player. eWorld has recently released Boomerang v4.0; begun marketing a Private Label Boomerang for profit and non-profit organizations; launched its eWorldMix Social Network and started accepting submissions for the 2nd annual eWorld Music Awards, all part of a coordinated plan for reaching initial goals of one to two million Boomerang downloads and $1,000,000+ monthly gross profits by early 2010. For more information visit www.eworldcompanies.com.

Safe Harbor Statement: This release contains forward-looking statements with respect to the results of operations and business of eWorld Companies, Inc., which involves risks and uncertainties. The Company's actual results could materially differ from those discussed. eWorld intends that statements about the Company's future expectations, including revenues, earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.

Contact Information

  • Contact:
    Henning Morales, CEO
    (310) 471-7674