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 Kbridge Energy (OTC BB:BMMCF)

Monday, May 10, 2010
Reverse Merger Activity

Blue Marble Media Corp. (OTCBB:BMMCF) is pleased to announce, further to its press release dated March 8, 2010, it has completed the transaction pursuant to the definitive qualifying transaction agreement. Mr. Jin Kyung Yang, President and CEO of the Company has now successfully completed the acquisition of Blue Cree Co. Ltd. ("BCC"). As consideration for the issued and outstanding shares of BCC the Company has issued 20,000,000 shares of the Company’s common stock pro rata to the shareholders of BCC in return for 88,795 shares of BCC, representing 100% of the share capital of BCC. The total issued and outstanding shares of the Company will now be 34,372,727.

BCC is a Korean corporation that was founded in 2002 and has ramped up sales increasingly since its inception. Sales revenue for 2009 were USD $10,800,000 and management is confident that the expansion into the US capital markets will exponentially grow the sales revenue while enhancing the integrated marketing system of TV commercial, creative advertising, film production, BTL marketing, entertainment, online promotion, and overseas production. BCC will now have the ability to expand its creative marketing field into North America and to enhance its current Korean business operations with additional capital along with creating strategic alliances with major entertainment and production partners in the North American market.


Financials
 

YEAR ENDED

 

December 31

 

 

2009

   
   

 

 


Revenue

$

 10,802,543

 

 

Cost of revenue

 

 9,767,778

 

 

   


 


Gross margin

 

1,034,765

 

 

   


 


Administrative Expenses

 


 


Wages and benefits

 

 438,663

 

 

Director fees

 

 200,000

 

 

Consulting

 

 36,343

 

 

Amortization

 

 10,326

 

 

Transfer agent fees

 

 89,674

 

 

Rent and maintenance

 

 247,110

 

 

Interest on debt

 

 50,590

 

 

Professional fees

 

 84,290

 

 

Travel, entertainment and promotion

 

 105,969

 

 

Vehicles and transportation

 

 21,079

 

 

Bad debts

 

 2,383

 

 

Office and general

 

 58,462

 

 

Heat, light, communication and power

 

 20,553

 

 

Miscellaneous

 

 10,999

 

 

   

 1,376,441

 

 

   

 

 

 

Loss from operations

 

 (341,676)

 

 

Other Items:

 

 

 

 

Interest earned

 

 13,742

 

 

Recovery of bad debts

 

 4,168

 

 

Miscellaneous income

 

 61,831

 

 

Loss on disposal of fixed assets

 

 (15,021)

 

 

Foreign exchange gain

 

 599

 

 

Income tax expense

 

 (44,516)

 

 

   

 

 

 

Net loss for the year

 

 (320,873)

 

 

Deficit, beginning of the year

 

 (2,367,967)

 

 

   

 

 

 

Deficit, end of the year

$

 (2,688,840)

 

 

   

 

 

 

Loss from operations per share, pro forma

$

 (0.01)

 

 

Net loss per share, pro forma

$

 (0.01)

 

 

   

 

 

 

Number of shares, pro forma

 

 34,472,727

 

 


Prepared by Management