|By Marketwired .||
|July 21, 2014 09:30 AM EDT||
PLAINVIEW, NY--(Marketwired - July 21, 2014) - Blast Applications (PINKSHEETS: BLAP) announced today that it has entered into an LOI with IFBC (Italian Food and Beverage Corporation), which is the Holding Company for JustWine, to merge their business interests. The parties have agreed to enter into a period of due diligence to take their presently successful working partnership to the next level.
JustWine, a seller of high quality European wines, has exploded onto the world market in the last few years and is now making the move into the U.S. Market. Mr. Lorenzo Buffi, founder of JustWine, stated: "Our work these last few months with Blast Applications has convinced us that BLAP is the company to bring us into the U.S. Market. Their expertise in marketing, especially the mobile application development industry is exactly the forward-looking dynamic that we want."
"The work with JustWine has been very rewarding," said Mr. Dino Luzzi, CEO of Blast Applications. "Mr. Buffi has transformed an online enterprise into a retail giant with revenues of over 5 million dollars in a few short years. His business plan works, and we have the marketing tools to bring his product into the entire US market. Not only targeting online sales and wholesale/retail distribution centers, we also plan to make the constantly growing list of vintage wines available to restaurateurs."
For the shareholders, a restructuring of the company shares is already in discussion with its team of lawyers and financial auditors, who are planning to move BLAP off of the OTC market.
"With revenues projected at $7 million, and the expansion into the US certainly adding considerably to that number, it only makes sense to restructure shares in a move to a higher board.
"We are scheduling meetings with Fund Managers who will assist us in the merger as well as in other opportunities for shareholders, such as a secondary offering."
Under the letter of intent, after the completion of the transaction, shareholders will be informed of the new structure."
About Blast Applications, Inc.
Blast Applications, Inc. is a marketer and developer of applications for Android, iPhone
Forward Looking Statements
This release contains "forward-looking statements" and information provided by Blast Applications, Inc., such as online, printed documents, publications or information available via Blast Applications, Inc's website. It may contain certain forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause Blast Applications Inc.'s results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," and similar words. These statements may also include plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. There can be no assurance that the negotiations being considered by the letter of intent will be completed.
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