SOURCE: Market & Research Corp.

January 04, 2011 10:15 ET

Market & Research Corp. (MTRE.BB) Files 14C Restructuring Company and Changing Its Name

WESTPORT, CT--(Marketwire - January 4, 2011) - Market & Research Corp. (the "Company") ("MRC") (OTCBB: MTRE) today announced that the Company filed a preliminary Information Statement with the SEC in order to restructure the Company and change its name. The Company also plans to file a Shelf registration statement on form S-1.

Gary Stein, President, commented, "The prior year was an exhausting one, as the sensitivity and excessive time required for the multiple negotiations we've engaged in have precluded us from making any earlier statements. As we proceed, in order to achieve our purpose we must be efficiently structured. To that end," Mr. Stein continued by saying, "The Board of Directors has determined that a share restructuring is in the best interest of our shareholders and potential investors. As a result, a majority of the Shareholders have approved, by written consent, for the Company to take the following actions:

  • A name change, from 'Market & Research Corp' to 'MRC Group Ltd'
  • A reduction in the number of Authorized Shares, from 150,000,000 to 75,000,000
  • A reverse split of our common stock, at a minimum ratio of 1:10 but not to exceed 1:30
  • Requesting a new CUSIP number & trading symbol, in support of the name change."

Based on the current outstanding common share count, the reverse split will reduce the new outstanding shares to fewer than 5 million.

Mr. Stein closed his remarks by commenting, "We recognize the concerns most shareholders have and their experiences when dealing with reverse splits by most OTC stocks. We believe we have a specific goal and accordingly are taking the appropriate steps to insure maximum long-term value for all of the Company's Shareholders."

About MRC Group Ltd. ("MRC")

MRC currently has agreements to acquire Precision Opinion, InMarketing and Quantum.

About Precision Opinion

Precision, which is to be acquired by MRC, provides consumer research services to the entertainment industry, non-governmental organizations and political polling services.

About InMarketing

InMarketing, which is to be acquired by MRC, is a leader in the incentive industry through the deployment of its exclusive, database-driven, web-enabled application to reward program strategies. InMarketing develops sales incentive programs, a safety incentive program, service award, recognition programs or customer loyalty programs for its customers.

About Quantum

Quantum, which is to be acquired by MRC, provides consumer research services to the telecommunications, automotive, healthcare, banking and cable industries and provides a circulation and research service for Business-to-Business for these same industries.

Forward-Looking Statements: The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, including any statements as to beliefs, plans, expectations, or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.

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