SOURCE: Thwapr

Thwapr mobile video sharing

January 25, 2011 08:30 ET

Thwapr, Inc. Announces 3 for 1 Stock Split

NEW YORK, NY--(Marketwire - January 25, 2011) - Thwapr, Inc. (OTCBB: THWI), a service for mobilizing and monetizing branded video content, today announced that the Board of Directors of the Company has approved a 3-for-1 common stock split. Shareholders of record on February 4, 2011 will receive two additional shares for each share held. The stock split will be effected in the form of a stock dividend which will be paid in newly issued common stock to stockholders subject to approval of the stock split by FINRA. As of January 24, the Company had 17,345,265 shares of common stock outstanding. After the stock split, the Company will have approximately 52,035,795 shares of common stock outstanding.

Commenting on the split, Bruce Goldstein, Thwapr's CEO, stated, "After several discussions with advisers and various institutional investors, the board elected to enact a 3 for 1 forward stock split of its common shares. The board determined this decision to be in the best interest of the Company and its shareholders as it will decidedly expand the number of shares in the marketplace and serve as an intent for ongoing discussions with institutional investors. The existing shareholders have earned this reward through their continued investment support of the Company this past year. We are excited to enter 2011 with many promising developments and look forward to providing continual announcements as these developments come to fruition."

About Thwapr, Inc.
Founded in 2007, Thwapr is a mobile video sharing service that allows brands to mobilize and monetize content, extending its distribution reach while delivering the highest possible quality and user experience regardless of device, network or carrier. Founded by digital video pioneers from Apple, Avid and MTV, Thwapr's patent-pending "Share to Phone" technology is revolutionizing mobile video, while also revitalizing traditional media by incorporating branded mobile video into print, broadcast, billboards and radio. A cloud-based solution that does not require a download or app, Thwapr is making mobile video sharing easy, fast and fun for the hundreds of millions of consumers with Web-enabled mobile devices. For more information about Thwapr, please go to http://corp.thwapr.com, visit Thwapr at www.twitter.com/thwapr or become a fan at www.facebook.com/thwapr.

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new products and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in Thwapr's annual report on Form 10-K for the most recent fiscal year, Thwapr's quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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