SOURCE: Options Media Group

December 16, 2009 08:15 ET

Update: Options Media Group Announces Successful Conversion of Vendor Debt to Equity

BOCA RATON, FL--(Marketwire - December 16, 2009) - Options Media Group Holdings, Inc. (OTCBB: OPMG), a leading email service provider ("ESP"), permission based email, sms/text messaging marketing, and lead generation company, today announced the conversion of vendor debt to common equity shares.

As part of the conversion, the Company had several of their key creditors agree to forgo cash payments in lieu of common shares in OPMG.

Mr. Scott Frohman, CEO of Options Media Group, commented, "We are pleased that we have been able to eliminate debt from our balance sheet while strengthening our relationship with some of our key vendors, who we consider our partners. This will enable the company to move forward with a clean slate, while management has also reduced overhead. This conversion along with the conversion into equity from our debt investors enables us to enter 2010 in a much stronger financial position. This will set the stage for Options Media to enter the Mobile space with the financial stability required to capitalize on this opportunity. We believe that the conversion into equity by our debt investors and vendors clearly demonstrates their confidence in our ability to transition into a leader in the Mobile industry."

About Options Media Holdings, Inc.

Options Media Group Holdings, Inc. is an email services provider for on-demand email marketing to create, send, and track professional and permission-based email marketing campaigns. Additionally, Options Media provides precision direct marketing solutions including email marketing, sms/mobile marketing, sms/keyword marketing, custom lead generation and creative services Options Media provides clients with access to software, hardware, bandwidth, and exclusive domains and IP addresses, as well as the ability to upload and manage subscribers, and review and upload campaigns and track results for a 360-degree full-service customer marketing solution.

Safe Harbor

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including the stage set for Options Media to enter the Mobile space with the financial stability required to capitalize on this opportunity and our belief that we will be a leader in the mobile industry. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include economic issues relating to the current recession, potential advertising spending, and potential consumer spending reductions. Further information on Option Media Group's risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 10-K filed on April 1, 2009. Options Media does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact Information

  • Investors:
    Options Media Group Holdings, Inc.
    Scott Frohman