GAWK Signs LOI With Southridge Advisors II for the Purchase of Additional Liabilities
(firmenpresse) - LOS ANGELES, CA -- (Marketwired) -- 04/13/15 -- GAWK Inc. (OTC PINK: GAWK) announced today that it has signed a letter of intent (LOI) with Southridge Advisors II, LLC, an institutional investor, providing for purchase of up to $3 million in outstanding liabilities.
Scott Kettle, CEO of GAWK, Inc., said, "Southridge agrees with our business plan to acquire data centers and other strategic businesses within the cloud computing and Voice over IP sector across the United States. Their enthusiasm allows GAWK to pursue revenue generation. By acquiring data centers in small to-medium cities, we will be able to offer those cities new tax bases and hire local technological talent, simultaneously increasing shareholder value."
Steven Hicks, CEO of Southridge, commented, "GAWK is on a unique path to build a strong company in the technological area. Our efforts will allow management to focus their resources towards the company's growth."
Gawk Incorporated is a world innovator of digital Internet-related technology designed to meet the needs of modern consumers, businesses and enterprises globally.
Southridge is a diversified financial holdings company that specializes in funding and advising small cap and growth companies in the public markets. Since 1996, the structured finance team at Southridge has made direct investments of over $1.75 Billion in over 300 companies globally. Southridge advises small public companies on a wide variety of corporate issues from the process of becoming a public company, to individualized financing techniques, to optimized balance sheet management. For further information about Southridge, please visit
All statements in this release that are not strictly historical facts are "forward-looking statements." Such forward-looking statements are based on GAWK's current assumptions, beliefs and expectations, and involve risks, uncertainties and other factors that may cause GAWK's actual results to be materially different from any results expressed or implied by such forward-looking statements. Some can be identified by the use of words such as "expect," "plan," "possibility," "offer," "if," "negotiate," "when," "believe," "will," "estimate," "continue," and similar expressions. Risks, uncertainties, and other factors that could cause or contribute to such differences include, but are not limited to: ongoing and future intellectual property enforcement actions; the ability to successfully litigate or settle claims of patent infringement; GAWK's ability to obtain necessary financing, generate sufficient cash flow, and maintain appropriate indebtedness; and the increasing development of market competition in the area of telecommunications. These factors and others are described in more detail in GAWK's public filings with the Securities and Exchange Commission, including the risks discussed in the "Risk Factors" section in GAWK's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Copies of these reports can be found on GAWK's website () under the heading "Investor Relations." GAWK is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
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Michael Selsman
Public Communications Co.
(310) 553-5732
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Datum: 13.04.2015 - 13:00 Uhr
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News-ID 385147
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