247MGI Posts Revenue of $120,000 for June and July and Amends Terms of Financing

FT. LAUDERDALE, Fla --(www.USEquityNews.com)-- 07/28/2008 - 247MGI, Inc. (OTC: TOFS) ("247MGI") has singed an agreement with a third party to do Audio and Video presentations worth $120,000. The revenue was generated by 247MGI's Online Radio show Smallcap Rapp(TM) which began airing three times a week in the month of June.


247MGI is optimistic revenues will increase as Smallcap Rapp(TM) continues its new weekly Broadcasts schedule. Revenue for 24MGI will be assisted in the fourth quarter with the release of the Hybrid Player Application and LIVE Video Broadcasts.

247MGI has amended the terms of its funding commitment for $100,000 which can be raised to $200,000 based on performance by the Company to a straight loan versus a Convertible Debenture. The Company had agreed to a 15% discount to market for the entire Debenture on the date of initial funding, but after the recent drop in the price of the Company's Common stock it would be to costly to continue this type of financing.

Military Calling Cards

247MGI has placed a Paypal link on its website to raise money to send calling cards to our troops. Please donate whatever you can so our men and women of the military can do what we do everyday, call home!

The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Contact Information:
247MGI, Inc.
Matt Dwyer, Chairman and CEO, 954-323-2516
mdwyer@247mgi.com

U.S. Equity News
Tel: (626) 961-8039
Email: info@usequitynews.com

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