MercadoMagico(R) Announces Online Business Incentive Program

Rhea-AI Summary

MercadoMagico (OTC PINK:NMGC) announced a new Business Incentive Program effective from April 5, 2021 to September 1, 2021, waiving listing and commission fees for new sellers. This initiative aims to support businesses affected by the pandemic. Moreover, NeoMagic is focusing on its MiMagic application processors and exploring Mergers and Acquisition opportunities to enhance revenue and shareholder value. The company is also interested in returning to full-time financial reporting.

Positive

• Launch of Business Incentive Program waiving fees for new sellers could boost seller enrollment and sales.
• Focus on M&A opportunities and monetization of MiMagic products may enhance revenue prospects.

Negative

• None.

MILPITAS, CA / ACCESSWIRE / April 5, 2021 / MercadoMagico (OTC PINK:NMGC) today announced its online Business Incentive Program for manufacturers, importers and, distributors.

MercadoMagico.com will waive listing and commission fees for any businesses that enroll and set up their online store on MercadoMagico as sellers (vendors) beginning April 5, 2021, until September 1, 2021. New sellers who would like to sign-up for a merchant account can apply by filling out the MercadoMagico Vendor Account form here: online application.

"As businesses continue to be affected by the pandemic, MercadoMagico would like to reaffirm its support and commitment to the manufacturing and business communities," said David Tomasello, Chairman of NeoMagic Corporation.

NeoMagic Business Update

NeoMagic continues to maintain its core business with shipments of its MiMagic application processors product line. The Company's goals are to continue to focus on identifying new opportunities to monetize the existing MiMagic family products and engage in Mergers and Acquisition (M&A) opportunities in order to grow revenues, profits, shareholder base and facilitate its ability to return to full-time financial reporting.

For more information, please contact Investor Relations at IR@neomagic.com

About NeoMagic

NeoMagic Corporation, headquartered in Silicon Valley, a pioneer in SOC (System On A Chip) and embedded dynamic random-access-memory (DRAM) technology, the integration of complex logic, memory, and analog circuits into single-chip solutions, designed to offer the lowest power, smallest form-factor, and best multimedia features and performance.

For more information, visit www.NeoMagic.com.

NeoMagic owns and operates MercadoMagico.com

MercadoMagico is a registered trademark.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed from time to time in the Company's filings with the Securities and Exchange Commission, including our Form10-K's, 10-Q, and 8-K's for 2007 through the date of October 31, 2010 hereof have been made available to the Investor at www.sec.gov. Information for the period ending January 30, 2011 to the present is not available through the SEC due to the cessation of the Company's required filings under the 1934 Act. Actual results, including, without limitation, the Company's ability to successfully raise capital, may differ significantly from those set forth in the forward-looking statements. Forward-looking statements involve risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). For example, statements about our expectations in connection with financings are subject to a variety of uncertainties and are subject to change as a result of changes in circumstances that could make it difficult for us to consummate such financings on terms acceptable to the Company or at all. The Company undertakes no obligation to update any forward-looking statements, except as provided for by law.

NeoMagic is a registered trademark of NeoMagic Corporation, and MiMagic is trademarked. All other trademarks are the property of their respective owners. NeoMagic disclaims any proprietary interest in the marks and names of others.

SOURCE: NeoMagic Corp

View source version on accesswire.com:
https://www.accesswire.com/638491/MercadoMagicoR-Announces-Online-Business-Incentive-Program

FAQ

What is MercadoMagico's Business Incentive Program for NMGC?

MercadoMagico's Business Incentive Program waives listing and commission fees for new sellers from April 5, 2021, to September 1, 2021.

How does NMGC plan to grow its revenues?

NMGC aims to grow revenues by focusing on monetizing its MiMagic products and pursuing mergers and acquisitions.

What is the significance of the press release from April 5, 2021, for NMGC?

The press release highlights NMGC's strategy to support businesses through a fee waiver program and outlines its focus on revenue growth.

When does the Business Incentive Program for NMGC end?

The Business Incentive Program for NMGC ends on September 1, 2021.