WorldSage Home

WORLDSAGE, INC. (FORMERLY “GLOBALMEDIA.COM”) ANNOUNCES EFFECTIVENESS OF REINCORPORATION INTO DELAWARE AND MERGER WITH WORLDSAGE, INC., AND STOCK SYMBOL CHANGE TO “WRSG.PK”

CUPERTINO, CA, April 15, 2008 — WorldSage, Inc. (“WorldSage” or the “Company”), a Delaware non-publicly reporting company whose shares are publicly quoted for sale on the Pink Sheets (formerly “GlobalMedia.com”), today announced that effective April 11, 2008, it consummated its reincorporation from Nevada to Delaware, followed immediately thereafter by the consummation of the merger of WorldSage, Inc., a privately-held Delaware corporation (“WorldSage Private”), with and into WorldSage (the “Merger”).  Pursuant to the Merger, (i) the business of WorldSage Private was assumed and will be continued by WorldSage as the surviving corporation, (ii) each of the 22,939,390 issued and outstanding shares of Common Stock of WorldSage Private were converted into the right to receive one (1) share of Common Stock of WorldSage, (iii) each of the 1,061,536 issued and outstanding shares of Series A Convertible Preferred Stock of WorldSage Private were converted into the right to receive one (1) share of Series A Convertible Preferred Stock of WorldSage, and (iv) each issued and outstanding option and warrant exercisable for 45,000 and 102,821 shares of Common Stock of WorldSage Private, respectively, were assumed and converted into an option or warrant, as applicable, exercisable for Common Stock of WorldSage, in a transaction intended to qualify for U.S. federal income tax purposes as a tax-free transaction within the meaning of Section 368(a) of the Internal Revenue Code.  The exercise prices and other terms of the outstanding options and warrants remained unchanged.  Following effectiveness of the Merger, WorldSage’s outstanding shares total 23,290,833 shares of Common Stock and 1,061,536 shares of Series A Convertible Preferred Stock, for an aggregate total of 24,352,369 shares of capital stock issued and outstanding, and issued and outstanding options and warrants to purchase 45,000 and 102,821 shares of Common Stock, respectively.  In addition, effective April 11, 2008, the following persons were appointed as the officers and directors of WorldSage:  (i) John Grillos, Chief Executive Officer, President, and director; (ii) Laird Q. Cagan, Chairman of the Board of Directors; (iii) Gail Babitt, Chief Financial Officer; (iv) Dr. Barbara Kurshan, Executive Vice President; and (v) Michael McTeigue, Secretary. 

WorldSage also announced today that effective April 15, 2008, its trading symbol has been changed to “WRSG.PK” from its previous trading symbol “WSGI.PK.” 

Read the full April 15, 2008 press release.

See stock price for WorldSage, Inc. on Yahoo Finance.

Investor Relations Contact:
Mr. John Liviakis
Liviakis Financial Communications, Inc.
655 Redwood Hwy, Suite 395
Mill Valley, CA 94941
415-389-4670
www.liviakis.com
john@liviakis.com

© 2006, WorldSage, Inc., CA USA. WorldSage is the property of WorldSage, Inc. Copyrights, trademarks, and service marks are property of their respective holders. All other rights reserved.