PLAINVIEW, N.Y.–(BUSINESS WIRE)–Blast Applications, Inc. (OTC: BLAP – News) announced it will spin off Big Pants Media, Inc. (“Big Pants”), its wholly owned subsidiary to existing shareholders of Blast Applications, Inc. (“Blast”).
Shareholders of Blast will receive one new share of Big Pants for every one hundred shares of Blast beneficially owned on or before the record date of October 20, 2009. The spin off transaction will relieve Blast of certain debts and obligations held on its balance sheet and allow Big Pants to continue on with its core business of web design, marketing and development as a separate entity.
Dino Luzzi, CEO of Blast stated, “I am extremely pleased that we can now concentrate all of our efforts and resources towards continuing forth with Blast’s core business of building functional social media applications for millions of users to enjoy. We will continue to build a core team of professionals to take our company to the next stage of growth in this exciting arena of virtual applications for smart phones and PDA devices like Apple’s iPhone®.”
About Blast Applications, Inc.
Blast Applications, Inc. is a premier creator and developer of applications for iPhone®, Facebook® and Twitter®, that makes spending time on these sites easier, more productive, more fun, and more intuitive. For more information, please visit www.blastapplications.com.
Forward Looking Statements
This release contains “forward-looking statements” and information provided by Blast Applications, Inc., such as online, printed documents, publications or information available via Blast Applications, Inc’s website. It may contain certain forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause Blast Applications Inc.’s results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words “planned,” “expects,” “believes,” “strategy,” “opportunity,” “anticipates,” and similar words. These statements may also include, plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing.







