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05/23/14 - $0.0059
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umining resources inc (UMNG) Details

UMining Resources Inc., a development stage company, focuses on multimedia business. It intends to sell films, shows, music, documentaries, music videos, live and streaming concerts, etc. through Websites. The company was formerly known as Globex, Inc. and changed its name to UMining Resources Inc. in April 2007. UMining Resources Inc. was incorporated in 1999 and is headquartered in St. Petersburg, Florida.

Founded in 1999

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umining resources inc (UMNG) Key Developments

UMINING Resources Inc. Announces Partnership with FANEX Inc

UMINING Resources Inc. announced new partnership with content and rights owner FANEX Inc. UMNG has signed an agreement with the Canadian company FANEX, representing music, filmmakers and music companies in Cuba, Argentina and Brazil. The result of this agreement has been evident on the GITA website with an increase in multimedia content. The company expects the content to greatly increase every week as more contracts are being signed by FANEX. The agreement between UMNG and FANEX is a revenue sharing model. The agreement is valid for 5 years. No upfront money deposits for the content is required by FANEX. UMNG will pay for the content as the content is sold on the website. This will help UMNG with its cash flow and will allow for a significant increase of content moving forward. The company will be acquiring more rights of works in the Spanish language through its new agreement. FANEX is experienced in the Latin American Market and has developed a presence.

UMINING Resources Inc. and Get It Tunes Agora Inc. Announce New Joint Venture

UMINING Resources Inc. announced a new joint venture with Get It Tunes Agora Inc. UMining Resources Inc. plans a new direction and a name change. It will aspire to transform itself into 'the alternative' multi-media company by building alliances with international companies and "mine" the world's cultural archives. UMNG proposes to generate revenues by using the websites, proprietary catalogues and software of GITA, to offer 'world class' multimedia content directly to consumers. By offering live streaming of shows and concerts, UMining also plan to obtain revenues through sponsorships and advertising. UMining will use GITA's expertise to facilitate social media interaction between artists/groups and fans. The company will be acquiring rights of works in the Spanish language and is initially targeting the Hispanic market because the upscale Latinos have been the most market changing influence since the baby boomers. They like to 'consume' content in both languages but tend to switch for audiovisual content, with wide spread usage of the Internet and mobile phones.


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