FOR IMMEDIATE RELEASE:
MAXIMUM AWARDS ACQUIRES PLAYSONTHENET.COM
New CEO and CFO Are Also Appointed; Company to Be Renamed Logica Holdings, Inc.
TORONTO and LONDON – May 18, 2007 - Maximum Awards, Inc. (OTCBB: MXRW) today announced that it has entered into an agreement to acquire Plays On the Net, PLC (POTN), the operator of playsonthenet.com, a provider of downloadable digital content that includes theatre, literature and music with contractual rights to the vast archive of audio programming owned by the British Broadcasting Corporation (BBC).
Under the terms of the agreement, Maximum Awards will purchase POTN through the issue of 180 million shares of common stock, subject to a definitive acquisition agreement.
The company also announced that Mr. Maxwell Thomas has resigned from his positions as Chief Executive Officer and Chief Financial Officer of Maximum Awards. He has also resigned from the Board of Directors.
Mr. Pino G. Baldassarre and Mr. Enzo Taddei have been appointed Chief Executive Officer and Chief Financial Officer, respectively, of Maximum Awards, effective immediately.
Maximum Awards intends to close the purchase by May 31, 2007, at which time a 15-to-1 reverse split of the common stock will be executed and the Company will be reorganized and renamed as Logica Holdings, Inc., a group of companies whose primary focus will be e-commerce.
“Logica Holdings will be a company that targets unique e-commerce and security- related companies with unique market opportunities and innovative technologies,” Mr. Baldssarre said. “The new company’s objective will be to simultaneously provide both organic growth through each of the subsidiaries and true investor value through continuous strategic acquisitions. Our partnerships with Novell, Fujitsu, 123ID and Rackspace will ensure the best possible customer experience and highest levels of security available.”
Mr. Baldassarre has held senior management and director positions at new business start-ups and established multinational corporations. He has over 20 years of experience in the security and communications industries. Most recently, Mr. Baldassarre was responsible for business development of 123ID, a software development corporation specializing in biometric security solutions. He holds a bachelor’s degree in mathematics with a minor in economics from York University in Toronto, and a master’s degree in business administration from INSEAD in Fontainbleu, France.
Mr. Taddei was previously the sole shareholder and director of a private accountancy firm, Adesso Res Asesores, of Spain, which he operated between 1999 and 2006. He earned bachelor’s degrees in economics from the University of Malaga, Spain, and in business administration from the University of Wales in conjunction with the University E.A.D.E. in Malaga. He also earned a master’s degree in taxation from University E.A.D.E.
About Maximum Awards, Inc.:
Founded in 2001 by a team of international travel and marketing industry experts, Maximum Awards (MXAW) began by consulting to national Australian banks and their credit card partners, helping to structure competitive air travel rewards offerings. The company also set up and marketed their own grassroots loyalty/rewards program, which for an annual fee, gave program cardholders reward points/miles for purchasing products and services from program partners. Shares of MXAW’s Common Stock commenced trading on the OTC Bulletin Board in September 2006.
About Playsonthenet.com
Founded in 2003 in England by playwright Chris Savery, POTN began as an online database for unpublished playwrights. A platform for writers to share their work, to communicate with fellow dramatists and to explore new ideas, Eventually, Chris Savery was able to transform the site into an e-Commerce venture when the company secured the license to sell titles from the archives of BBC Audiobooks in April 2006. It has since grown into an extensive retail site and all-round theatre information site.
Other leading names in publishing followed, including: Gardners Books, Harper Collins, Pan Macmillan, Random House Audio, Naxos Audiobooks, BBC Active, Little, Brown and Hodder Headline. The site has now developed into a significant online store and theatre information site, with more than 500,000 books and audio books available for sale and download. The site also offers CDs, DVDs, affordable theatre tickets, and even free downloads of classic plays, fiction and poetry.
The acquisition of POTN brings with it two sister companies, Anne’s Diary and Curtain Rising
About Annesdiary.com
Anne’s Diary has been created for fans of “Anne Of Green Gables” both young and old from all across the globe. Its purpose is to foster an online community of people with a common interest in the tales of LM Montgomery’s Anne Shirley and in literature and creative writing. The enchanting “Green Gables” novels bind together timeless lessons of triumph and courage that continue to inspire its readers even today. This site will continue the tradition of Anne and help nurture a new generation of Anne-lovers.
The goal is to establish a secure, virtual world specifically designed for young people. Taking Anne as an inspiration, the site will offer an entertaining and educational environment where users are encouraged to explore their creativity through the use of a personal interactive diary that will walk them through their daily tasks and reminders as well as providing them with a unique space in which to record their adventures and wishes.
About Curtainrising.com
Curtainrising.com began as an online database for theatres. Organized by city, the concept was a user-friendly search engine which would enable theatregoers to locate productions, venues and information with ease. It has since grown into a chat forum for theatre aficionados, an extensive worldwide directory of plays and theatres and a tight-knit community created by, and
utilized by theatres, actors, producers and individuals with an interest in performing arts. Curtain Rising has now licensed the rights to its database and web site to Playsonthenet and the combination of the two companies is set to become the single resource centre for theatre goers, playwrights and advertisers.
The site already features a popular theatre-oriented forum, ‘Playtalk’, where theatre professionals and enthusiasts can connect and share ideas. This will be enhanced by ‘Stage Write’, a personal blog page available to all members of POTN where actors and writers can post their bios, photographs and information in a ‘My Space’ style environment geared specifically towards those working or interested in theatre. ‘Stage Write Professional’ will offer a similar service to theatre venues and companies, giving theatres a personalised forum on which to post their latest news, ticket sales, seating plans and more. Curtain Rising already has relationships with thousands of theatres worldwide, and through ‘SW Professional’, we will add many more to our list. Interest in this valuable service has grown considerably since the launch of Curtain Rising Magazine at the end of April. Now on its third issue, this weekly online glossy includes news, reviews and features all devoted to the goings-on the theatre community, and the magazine has been received with much positivity by theatres and the general public.
Safe Harbor Statement
This press release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for Plays On the Net’s markets and the demand for its products. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry and competition. The Company refers interested persons to its most recent Annual Report on Form 10-KSB and its other SEC filings for a description of additional uncertainties and factors, which may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements.
Pino G. Balddassare
Chief Executive Officer
Maximum Awards, Inc.
416-929-5798
e-mail: info@logicaholdings.com
-or-
Ron Stabiner
The Wall Street Group, Inc.
212-888-4848
Web address for Logica Holdings: logicaholdings.com
Web address for Playsonthenet: www.playsonthenet.com
Web address for Anne’s Dairy: www.annesdiary.com
Web address for Curtainrising: www.curtainrising.com
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