EMJI PR November 7, 2013
Emaji lands first major funding commitments
---Agreements reached on initial $4 million for acquisitions and operating capital---
IRVINE, CA, Nov. 7, 2013 /PRNewswire/ - Emaji, Inc. (OTC: EMJI) announced today that it has entered into financing agreements that are expected to provide Emaji with $4,000,000 in acquisition and operating capital. The funding agreements, which Emaji has been negotiating with several individuals and institutions over the past year, bring Emaji closer to reaching its initial funding goal of $5,000,000 as it continues to move forward with its development efforts in its Sportsworld Entertainment and Emaji Business Development divisions.
The agreements call for funding to commence during the fourth quarter and to continue throughout fiscal year 2014. The use of proceeds includes funding for the planned acquisition of an NBA Development League team through Sportsworld's Professional Sports Acquisition Group, funding to develop and produce a reality competition syndicated series as part of the Flashback Camps International participatory camps, continued development on Netoy.com,® and operating capital which will be utilized to retain additional management and staff. This funding will also enable Emaji to file its planned initial registration statement in order to become fully reporting and provide the financial foundation so that Emaji will no longer be considered a development stage company.
Emaji plans to post the executed funding agreements as part of its quarterly filing with OTC. Emaji plans to release its specific revenue targets for 2014 prior to end of the fourth quarter. For additional information on Emaji, Inc., please go to www.emaji.com or http://www.otcmarkets.com.
Emaji, Inc. (OTC: EMJI), "Where Imagination Comes Alive," is a publicly traded development stage company with two initial divisions, Emaji Business Development, which is developing the rollout of its revamped online toy portal Netoy.com®; and Sportsworld Entertainment, which is developing its participatory collegiate and professional sports camps through Flashback Camps International, a financial and marketing support program for a wide variety of athletic enterprises, including youth athletic programs, and its Professional Sports Acquisition Group, which is currently exploring acquisition opportunities in professional sports.