BSA Satellink Announces Acquisition of Clear Blue Interactive
Published September 30th, 2008
PALM HARBOR, Fla., - BSA Satellink Inc. (the “Company”) announced today that it has closed on the acquisition of Palm Harbor, FL based Clear Blue Interactive, Inc. (”CBI”). Prior to the acquisition, CBI operated a leading social network (http://www.Affluence.org) exclusively for affluent people. Membership requires a verified net-worth of at least $3 million; an annual household income of at least $300,000; or the successful invitation of at least five people who qualify for membership on their own. The Company paid the former shareholders of CBI 9,000,000 shares of common stock, $500,000 in a promissory note, and 1,800,000 warrants to purchase shares of common stock for $.88 per share over the next two years in exchange for all of the stock of CBI.
Additionally, the Company has appointed Scott P. Mitchell as President, Chief Executive Officer, Director, and Vice Chairman of the Company under a five year employment agreement.
Mr. Mitchell has played a key leadership role in innovative technology and Internet based businesses for over a decade. Prior to founding CBI, Mr. Mitchell was most recently the President, CEO, and Director of Think Partnership, Inc. d/b/a Kowabunga, an international leader in online advertising where he funded and completed more than a dozen acquisitions and integrated them into a comprehensive online advertising and marketing services company.
Mr. Mitchell began his career as a technology consultant for Arthur Andersen, LLP where he helped guide Fortune 100 companies through the Internet and technology boom of the 1990s. Mr. Mitchell went on from Arthur Andersen to Tunes.com, where he launched RollingStone.com, TheSource.com, and DownBeatJazz.com developing Tunes.com to become the Internet’s leading music destination network. After Tunes.com’s sale in 1999 to publicly traded EMusic.com for $180 million, Mr. Mitchell began working with Barry Diller’s Interactive Corporation and launched HSN.com, the online presence for Home Shopping Network. In less than two years, HSN.com grew from nothing into one of Interactive’s fastest growing and most profitable web properties.
Mr. Mitchell has a Bachelor of Science degree in Economics and Psychology from Illinois State University in Normal, IL as well as Master Degrees in Business Administration, Computer Science, and Management and Organizational Development from Benedictine University in Lisle, IL.
Mr. Mitchell has established a strategic plan, based on his vision, to aggregate the world’s largest organization of international affluent people and to develop and implement technologies, processes, principles, and services aimed at building the most comprehensive multimedia platform to communicate, network, and market to affluent people around the world. Members who have been verified receive the following free benefits:
– Access to Affluence.org — The only online social network that verifies members have at least a $3 million net worth or an annual income of at least $300,000 (http://www.affluence.org) — A subscription to Affluence magazine — The official magazine of the Affluence Organization — An Affluence Membership Card — providing members with unique perks and exclusive access to bars, clubs, airport lounges, hotels, and events — Concierge Service — 24/7 dedicated Affluence concierge service — Access to the most exclusive parties and events
The Company also intends to seek shareholder approval to change its name to “Affluence Corporation” and will simultaneously seek approval from the Securities and Exchange Commission to change its trading symbol to “AFLC.”
In addition to appointing Mr. Mitchell as Vice Chairman, the Company also added three new board members.
Charles Fink
Charles Fink has been an executive and producer of entertainment and new media since 1985, creating and launching new brands for Disney, AOL, and American Greetings.
Mr. Fink started his career in the Animation Division of Walt Disney Pictures, where he rose to the position of Vice-President, Creative Affairs. In his six years with Disney, he was responsible for the development of live-action and animated motion pictures, including “Beauty and The Beast”, “Aladdin”, and “The Lion King”, which was based on his original idea. In 1992, he left Disney Pictures to become Executive Vice-President, Chief Operating Officer and Director of Virtual World Entertainment, a software developer and location-based Entertainment Company owned by Tim Disney. That company was later sold to Microsoft.
In early 1996, Mr. Fink joined AOL as Senior Vice-President and Chief Creative Officer of its Greenhouse Networks, where he created and launched some of the Internet’s leading content brands, including Love@AOL (Love.com) and Electra (sold to Oxygen Media).
After leaving AOL in 1999, Mr. Fink founded eAgents.com, a daily email service which provided targeted news and entertainment to over five million Internet users each day. In September 2000, less than eight months after founding the company, with its initial product still in beta, eAgents was sold to American Greetings Interactive (AGI). Mr. Fink served as President of AGI until 2003, and Chairman until 2005. During his tenure, AG acquired its two largest competitors, BlueMountain.com and eGreetings.com, and transitioned from a free site to a fee based subscription service with nearly three million paying subscribers.
Mr. Fink earned his BA Degree from Sarah Lawrence College and Master of Fine Arts Degree from the Art Institute of Chicago. He is currently the founder and co-artistic director of the not-for-profit New Musical Development Fund and a member of the Board of Directors of the New York New Musical Festival.
John Linden
Mr. Linden continues to play a key role in shaping innovative Internet technologies as he has done for more than a decade. Mr. Linden is currently the Chief Technology Officer for OpenX, a leading open source Ad Serving technology for publishers. Most recently, Mr. Linden was the Chief Technology Officer for Kowabunga, an international leader in online advertising since 2006 when Kowabunga purchased Litmus Media, a company he co-founded.
Mr. Linden served as Litmus Media’s chief executive officer since early 2005 and until its sale in 2006, where he built click fraud protected advertising distribution technologies for the performance-based advertising, search marketing, and e-retailing industries as well as developing its ValidClick search distribution network and its coupon and product comparison distribution systems. Prior to Litmus Media, Mr. Linden was the executive vice president of marketing for Positive Networks, Inc. He has also served as chief technology officer for Adknowledge and Virtumundo, Inc. Mr. Linden founded and was the chief executive officer of Planet Alumni, Inc.
Marc Mitchell
Marc Mitchell is a successful salesman and entrepreneur. After working in medical sales for several public companies, Marc Mitchell started his own chain of physical therapy centers throughout the southwest Chicago land area. Mr. Mitchell has his Bachelor of Arts degree from Eastern Illinois University.
These new board members are welcomed by Doug Stukel, chairman of the board, as well as the Company’s current board members Lee Wiskowski and David Beamish.
Scott Mitchell, chief executive officer of the Company, said, “We are excited to execute against a strategic plan that we are highly confident will build significant value for our shareholders. Aggregating the largest organization of affluent people worldwide will provide us with a platform of already identified opportunities that we believe will have very scalable and profitable revenue streams associated with them. Reaching critical mass is our immediate priority which we intend to accomplish both organically and through very strategic and well priced acquisitions.”
About Affluence Corporation
Affluence Corporation is quickly aggregating the world’s largest organization of verified affluent people while also developing a comprehensive multimedia platform aimed at maximizing the level of engagement our affluent members have in our organization as well as the direct marketing, advertising, networking, and service value the organization provides.
Safe Harbor
This press release contains statements, which may constitute “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of BSA Satellink, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to raise sufficient financing, the ability to compete successfully and the ability to complete before planned acquisitions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. The company cannot guarantee future financial results, levels of activity, performance or achievements, and investors should not place undue reliance on the company’s forward-looking statements.
Web site: http://www.Affluence.org/
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