MYCITY INC.
 
 

THE MOST INNOVATIVE ONLINE LOCAL BUSINESS GUIDE AND SOCIAL PORTAL!

Toronto, Ontario, April 18, 2008

“MyCity Inc." of Toronto Canada, announced Today its Acquisition of over 200 dot com Internet Domain Names under the "MyCity" Brand, and Undertakes Initial Corporate Structuring to serve our local Online Community.

Overview
MyCity Inc. of Toronto Ontario Canada, has completed the strategic takeover of over 200 internet domain names and associated intellectual properties of “The MyCity Network”, consisting of local business referral directories, a local social network, local classified board, local job board, and Community discussion forum.

The board of directors of MyCity Inc. brings corporate and management experience into the upper echelon of decision making. With this combination of experience, a new corporate philosophy, and taking the advertising goal of “narrow casting” - fusing it with “Organic” Search Engine Optimization (S.E.O.) Technology, the company plans to become a major player in the Canadian online advertising industry by 2010.

Restructuring
The initial structuring plan includes an effective new design, business model and infrastructure.
The Company appointed Bill Vass to the position of Chief Structuring and Integration Officer to help manage the initial integration efforts and to ensure that all the financial objectives and operational efficiency goals of the acquisitions and related structuring plans are met. In addition, Mr. Vass will be overseeing other activities including implementing process improvements and project development strategies. “We are taking decisive steps to build an integrated business with the financial strength, fiscal integrity, sales /marketing solutions, and a strengthened management team, with the size and scale to support the expansion of our new online directories within each local community,” said Mr. Vass. “ Currently, MyCity Inc. is taking action to provide a vision of how the company can reach and exceed profitability targets and at the same strategically schedule the release of the online projects for the G.T.A followed by Ontario and the rest of Canada, United States, Europe and Asia.
With each of the 200 MyCity sites fully populated with its limit of only 16 featured businesses in each of its 384 business categories, revenues can reach over $11,000,000.00 per City and the potential of the company bearing a value in the Billion dollar figure within the next 5 years is not an impossibility.

Strategic Alternatives
“Over the past year, the company took a pragmatic approach in evaluating options to strategically meet the Company’s goal of profitability, researching each possibility,” said Mr. Vass. "As part of this review, we evaluated in detail many aspects including consideration of future capital requirements." The Company also announced that its Board of Directors is analyzing the utilization of its cash resources, including acquiring third party investment to expedite the growth process. The Company expects to announce its plans once final deliberations are complete.”

Outlook
"The entire design platform of each MyCity"City" site has been re-engineered to incorporate a multitude of new technologies which enhance “ease of use” and “user functionality”. An enhanced version of the Virtual Mall is now released online for the GTA region of Ontario Canada, but a new revolutionary 3D rendered Virtual Mall is already in testing." Mr. Vass added. The Company asks that all visitors to the Beta sites remain patient as the project is in the debugging stage, a fully functional system is expected to be released by Mid Summer 2008.
"The outlook for the restructured company is very positive. We believe that each process and procedure implemented and executed will bring the company one step closer to becoming a major player in the online internet advertising arena and capture the local online audience."

 
The company is currently seeking alliances with individuals or companies that may play a role in enhancing the developing business model. For more information about the Company, its products or services, or to inquire about strategically merging with or joining MyCity Inc. with its online projects, Contact Bill Vass by email.
 
 

With the low cost of advertising and high online traffic levels, the first City (Toronto) is expected to be sold out by the end of the year.
Businesses wishing to take advantage of advertising should consider acting quickly as placements are limited and sold on a first come first serve basis!