Backchannelmedia

Backchannelmedia

WILKES-BARRE, Pa., Aug. 24 /PRNewswire-FirstCall/ -- George Foreman Enterprises, Inc., formerly known as MM Companies, Inc., today announced that NASDAQ has, at the company's request, changed the company's trading symbol on the NASDAQ Over-the-Counter Bulletin Board from MMCO.OB to GFME.OB. The change in trading symbol reflects the company's recent name change and was effective at the open of market trading today.

The Company announced on August 17, 2005 that it had entered into a series of definitive agreements with former world heavyweight boxing champion George Foreman allowing the company exclusive future use of his name, likeness, and personal services through the assignment of his intellectual property. The announcement indicated that the company will exclusively handle all future business developments related to new uses of George Foreman's intellectual property and prospective licensing agreements.

The Company also previously announced that, along with its acquisition of George Foreman's intellectual property, the Company made significant additions and changes to its corporate structure: the Board of Directors was expanded to six people, with new board members George Foreman, George Foreman, Jr. and Efrem Gerszberg joining existing board members Co-Chairman and Chief Executive Officer Seymour Holtzman and Jesse Choper, and it is expected that an additional board member will be added in the near future; George Foreman, through an exchangeable equity interest in the company's new majority-owned subsidiary George Foreman Ventures LLC, has become the company's largest stockholder on an as-converted basis; and George Foreman has become Co- Chairman of the company, while Mr. Gerszberg continues to be the President of the company with responsibility for day-to-day operations, and George Foreman, Jr. and George Foreman III have become Senior Executive Vice President and Executive Vice President, respectively, in the new organization.

Forward-Looking Statements and Risk Factor

The discussion of forward-looking information requires management of the company to make certain estimates and assumptions regarding the company's strategic direction and the effect of such plans on the company's financial results. The company's actual results and the implementation of its plans and operations may differ materially from forward-looking statements made by the company. The company encourages readers of forward-looking information concerning the company to refer to its prior filings with the Securities and Exchange Commission that set forth certain risks and uncertainties that may have an impact on future results and direction of the company.

The company's business will depend on the exploitation and protection of its intellectual property.

The company's success will depend primarily upon its ability to exploit and protect the intellectual property rights that George Foreman and George Foreman Productions, Inc. have assigned to the company's majority-owned subsidiary George Foreman Ventures LLC. Foreman has entered into numerous licensing, endorsement and other agreements over the last decade, and there can be no assurances that a third party will not assert a claim to some or all of the intellectual property rights that the company believes have been assigned to George Foreman Ventures. In addition, the United States Patent and Trademark Office may cite preexisting trademark applications and registrations by third parties against, and prior trademark owners may oppose, future trademark applications by the company or George Foreman Ventures incorporating the George Foreman name. Further, even if the company or George Foreman Ventures were able to obtain acceptance of its trademark applications by the U.S. PTO, a significant number of similar marks registered by, and licensed to, third parties could diminish the value and protectability of the intellectual property held by the company or George Foreman Ventures.

Participation in litigation or regulatory proceedings in the U.S. or other countries, which could result in substantial cost to and diversion of energies by the company and George Foreman Ventures, may be necessary to enforce the trademarks and other rights assigned to George Foreman Ventures, to defend the company, George Foreman Ventures or third parties against potential infringement claims asserted by others or to determine the ownership, scope or validity of the proprietary rights of the company, George Foreman Ventures and others. The parties to such litigation may be larger or better capitalized than the company and better able to support the cost of litigation. An adverse outcome in any such proceedings could subject the company and/or George Foreman Ventures to significant liabilities to third parties, require them to seek licenses from third parties and/or require them to cease using certain or all intellectual property, any of which could have a material adverse effect on the company's business, operating results and financial condition.

CONTACT:

Andrew Bard

(212)445-8368

Source: George Foreman Enterprises, Inc.

CONTACT: Andrew Bard, +1-212-445-8368 for George Foreman Enterprises, Inc.