TMm Inc. makes announcement
THOUSAND OAKS, Calif.--January 23, 1995--TMm Inc. announced
Friday, Jan. 20, 1995, that it had "satisfied the conditions of its Plan of
Reorganization necessary to achieve an effective date."
Peter G. Olson, president and chief executive officer of TMm stated today,
"TMm is ready to begin business on a normal basis without the supervision of
the U.S. Bankruptcy Court. Passing this final milestone on the journey out of
bankruptcy allows TMm to begin to focus our considerable energies and talent
on becoming a broad based multimedia company.
"We can now begin to consummate key agreements in telecommunications and
with other technology and service providers. This is an exciting time for
TMm's customers, shareholders and employees."
According to Todd J. Cleary, chief counsel of TMm, "TMm has demonstrated
remarkable resilience in overcoming its financial and legal obstacles.
Emerging from Chapter 11 gives TMm the rare opportunity of a fresh start
without starting from scratch. The company is battle-hardened and ready to
manifest tomorrow's technology today.
"It's not often you see a company fight so hard to survive. This company is
destined to prevail."
Robert Todd, vice president of operations and chief financial officer
stated, "This significant accomplishment was attained in a relatively short
period of time. The typical bankruptcy proceeding takes much longer for the
few companies that manage to emerge. TMm is now positioned to participate
fully in the technology, publishing and production aspects of the interactive
Note to Editors: TMm Inc. is publicly traded on the Electronic Bulletin
Board using a temporary symbol of TMMMQ and a normal symbol of TMMM. TMm
emerged in January 1995 as a broad based multimedia company positioned to
participate fully in the technology, publishing and production aspects of the
interactive multimedia market.
For more information, contact: TMm Inc. at 299 West Hillcrest Drive, Suite
200, Thousand Oaks, CA 91360. Telephone: 805/371-0500 or fax: 805/371-0505
CONTACT: Total Multimedia