LOS ANGELES—(Mike the Pike Productions, Inc. (Pink Sheets: MIKP) announces today that it will sell ServeNation to a private company which sees strong potential in the program and looks to expedite the program to market quickly.)—
“This allows us to maintain participation in the lucrative prepaid realm while maximizing focus on the feature films and graphic novels as, with White Space and George R.R. Martin’s The Skin Trade, the company’s opportunities in the entertainment industry are stronger than ever.”
MIKP will receive $350,000 cash purchase for the program in addition to 27.5% ownership in ServeNation. ServeNation executives feel the innovative prepaid program can achieve $100m+ sales within the first 3 years. MIKP execs feel that revenue potential here could provide sustainable income to the company for its overall operations and film projects.
ServeNation is a program based in the rapidly growing prepaid card industry. It has a unique niche market with a ‘sticky factor’ that includes micro-donations to the card-user’s non-profit of choice with each swipe.
A leading industry research and advisory firm, Mercator Advisory Group, stated in their Seventh Annual Prepaid Card Forecast that ‘The total dollars loaded onto prepaid cards will climb to $672 billion over the next three years, which is more than double the $330.03 billion loaded onto these cards in 2009. They forecast the market will grow to $549.7 billion by 2012.’
Newbauer concludes, “This allows us to maintain participation in the lucrative prepaid realm while maximizing focus on the feature films and graphic novels as, with White Space andGeorge R.R. Martin’s The Skin Trade, the company’s opportunities in the entertainment industry are stronger than ever.”
The Purchasing Company also sees potential in MIKP’s feature films division and is currently in discussions to provide funding for the company’s projects and accelerated growth in a mutually beneficial relationship.
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