Underseas Research & Recovery Ltd.
Underseas Research & Recovery Ltd.: Underseas Launched Website and Updates on Internet Radio SBN
Underseas Research & Recovery Ltd. / Key word(s): Miscellaneous 10.10.2011 / 08:00 --------------------------------------------------------------------- Underseas Research & Recovery Ltd. / Tags: Internet, Radio, Internet Radio, Music, Entertainment Underseas Launched Website and Updates on Internet Radio SBN Toronto, Canada - October 10, 2011 Underseas Research & Recovery Ltd. ('Underseas' or the 'Company'), a Toronto based holding company for the SBN internet radio is pleased to present its new corporate website www.underseasresearchandrecovery.com. Shareholders, partners and everybody who is interested in music and online radio services is welcome to view the website for corporate news and updates as well as information about the well performing subsidiary SBN Internet radio. The shares of the Underseas holding are publicly traded on the Open Market segment of the Frankfurt and Berlin Stock Exchanges since mid of February 2011. Currently there are 30 Million shares of Underseas issued and outstanding representing a market capitalization of EUR 7.5 Million. Underseas has commenced its business activities this year by acquiring internet radio provider SBN SPA Ltd. located in Malta and its parent company AE American Enterprises, Inc. based in Florida, USA. SBN started its internet radio services in 2004 and offers to its subscribers over 100 music, information sports and entertainment channels in CD quality 128 Kbit. The capital letters of the online radio SBN stand for Satellite Broadcasting Network, representing the projected new broadcasting service for the SBN radio programs through satellites. Revenues of SBN have reached about EUR 5.8 Mil. in 2009 with a small after tax profit. For 2010 SBN expects increased revenues of up to EUR 9 Million. Main sources of income for SBN are currently subscriber fees and merchandise sales to larger networks and consumer good and retail companies. SBN intends to expand its business radically by launching a broadcast service of its SBN radio programs through satellites. The additional future satellite broadcast service is scheduled to get in operation during 2012 and 2014. Hence a mobile and border-free terrestrial reception of SBN radio programs shall become possible all over Europe and on the Mediterranean Sea with a population of over 700 Million people. By expanding its broadcast services into satellite technology, SBN expects to increase its customer base substantially which should result in strongly rising revenues from subscriber fees and advertisement. Recently internet radio business received large attention by the successful IPO of Pandora Media Inc., one of United States' leading internet radio providers. With an IPO price of USD 16 per share, Pandora reached a market capitalization of roughly USD 2.5 Billion. Pandora Media Inc. has approx. 160 Million shares outstanding. Revenues of Pandora reached USD 137 Million with a loss of USD 1.75 Million in the latest business year. At its IPO price, Pandora Media Inc. was valued at about 20 times last year's sales. Underseas hopes that by the huge appreciation and success of Pandora's IPO the general perception and understanding of internet radio business will improve supporting a favorable outlook for SBN internet radio and its projected expansion into satellite broadcasting. About Underseas Research & Recovery Ltd. Underseas Research & Recovery Ltd. is the holding company for the SBN Group consisting of Florida based AE American Enterprises, Inc. and internet radio provider SBN SPA Ltd., located in Malta. The shares of Underseas are listed on the Open Market segment of the Frankfurt and Berlin Stock Exchanges. Currently there are 30 Million shares issued and outstanding. SBN plans to expand its current internet based radio service into satellite broadcasting for Europe and the Mediterranean Sea until the year 2014. SBN strives to offer its projected mobile satellite radio programs to a population of over 700 Million people. Canadian business incubator Indenture Investments Limited which is also listed on the Frankfurt Stock Exchange under the Symbol 3IVN holds approx. 75% of the outstanding shares of Underseas. Contact: info@underseasresearchandrecovery.com Disclaimer; Forward-Looking Statements: Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as 'anticipate,' 'believe,' 'estimate,' 'expect,' 'forecast,' 'intend,' 'may,' 'plan,' 'project,' 'predict,' 'should' and 'will' and similar expressions as they relate to Underseas Research & Recovery Ltd. are intended to identify such forward-looking statements. Underseas Research & Recovery Ltd. undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Although we believe that the beliefs, plans, expectations and intentions contained in such statements are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. This or any other statement from the company or its representatives does not constitute an offer or a solicitation of an offer for the purchase or sale of any shares or other securities of I Underseas Research & Recovery Ltd. There are substantial risks associated with investing in development stage companies. Potential investors should seek advice from a qualified financial dealer prior to investing in Underseas Research & Recovery Ltd.Language: English Company: Underseas Research & Recovery Ltd. Mr. Lawrence 4936 Younger Street Suite 727 Toronto, ON. Canada M2N 6S3 Tel: ++1.416.410.3995 Fax: ++1.866.230.1349 E-Mail: info@underseasresearchandrecovery.com Internet: http://www.underseasresearchandrecovery.com ISIN: CA9043511034 WKN: A0RMS3 Exchanges: Open Market Frankfurt, Open Market BerlinEnd of Corporate News --------------------------------------------------------------------- 10.10.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 141719 10.10.2011
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