Mike The Pike Productions, Inc. Agrees to the Sale of ServeNation™; Prepaid Reloadable Debit Program with $100m+ Potential

Date : 11/07/2011 @ 8:45AM
Source : Business Wire
Stock : Mike The Pike Productions, Inc. (GM) (MIKP)
Quote : 0.0001  0.0 (0.00%) @ 2:05AM
Mike The Pike Productions, Inc. (GM) share price Chart

Mike The Pike Productions, Inc. Agrees to the Sale of ServeNation™; Prepaid Reloadable Debit Program with $100m+ Potential

Mike The Pike Productions, Inc. (GM) (USOTC:MIKP)
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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.

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 and George 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.


Interview with MIKP CEO

White Space on Facebook

George R.R. Martin’s The Skin Trade on Facebook

MIKP on Facebook


Safe Harbor: This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.

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