SOURCE: Market & Research Corp.

April 07, 2011 10:00 ET

Market & Research Group (MTRE.PK) Announces Plans

WESTPORT, CT--(Marketwire - April 7, 2011) - Market & Research Corp. (the "Company") (PINKSHEETS: MTRE) today announced that it has now signed five (5) letters of intent ("LOI") with certain planned acquisition targets. Each of the LOI's are subject to certain conditions precedent, including entering into definitive agreements with the targets. There can be no assurance that a definitive agreement will be entered into with the targets, or that the contemplated acquisitions will take place.

Gary Stein, President of the Company, began remarks by stating, "With approval from the majority of our shareholders, the Board of Directors has agreed 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
  • Implementation of a new CUSIP number and trading symbol, in support of the name change."

Stein continued his remarks by commenting, "Upon completion of these transactions, the restructured company will have fewer than 11 million shares issued and outstanding, leaving adequate support for future acquisitions. We have also now signed formal Letters of Intent ("LOI") with certain core acquisition candidates we had negotiated with. By mutual agreement, we have amiably disengaged from our previous plans to acquire INmarketing Group."

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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