FT. LAUDERDALE, Fla., Nov. 2, 2011 /PRNewswire/ — 247MGI, Inc. (OTC:TOFS: PK) (“247MGI”) soon to be known as Baron Capital Enterprises, Inc., (www.baroncapitalenterprise.com) is pleased to announce it has found a brokerage firm that meets the immediate needs of the Company and is placing a deposit on the firm.

The first of two firms to be purchased is located in Florida and will allow the Company to meet the initial goals and begin operating the firm prior to the end of the year. This firm will give the Company the opportunity to turn its investments into cash without relying on anyone else. The brokerage firm will also help drive business to the transfer agency. Now when companies are contacted for financing help the Company can also state it does all of its trading in-house through its own brokerage firm. The Company will also be ordering the software needed to open the transfer agency and begin operations. The software should be installed next week followed by the software company’s personnel traveling to Florida for training and the setup of Baron Capital Transfer & Registrar’s first client.

The Company has filed with the State of Florida to amend the name change from November 1 to the 18th as stated to allow more time to process all the paperwork.

The Company has also increased its Authorized shares by 1 billion to 2.4 billion shares. This may seem counter productive to the recent reductions in the Authorized shares, but the Company is simply leveraging its Common stock to move forward until it is able to begin selling off its investments. Once the Company is able to begin selling its investments, it will cease raising capital through the issuance of its own stock and immediately reduce the number of Authorized shares to equal the amount of its Outstanding shares.

During the conference call last week the Company promised no Reverse Splits and that it plans on reducing the Authorized to 1.2 Billion by the end of 2011. This goal still remains. Currently, the Company would need to retire 174 million shares to meet this goal. Although we increased the Authorized shares we do not intend on issuing all those shares, but just enough to move the Company forward until we have the ability to sell off our investments in a few weeks. Through a combination of the Company buying back shares along with individual investors buying back shares, the reduction to 1.2 billion can be accomplished.

The goals set by the Company can only be achieved if all the pieces are in place. In order to accomplish this, the Company requires funds to achieve these goals. Until RightSmile releases information to the public, the Company cannot sell its investments and cannot remain to sit idle. We do anticipate being able to begin liquidating our investments shortly and although the Authorized shares have been increased by 1 billion, the Company doesn’t plan on issuing the full amount, only enough to meet the immediate needs.

The Company had a unique opportunity to leap frog its business plan by at least 30 to 45 days in taking these actions and feels the long term benefits far out weigh any short term disappointment shareholders may have by the necessary short term increase.

Matt Dwyer, CEO stated “We are extremely disappointed with the sell off in the Company yesterday before anyone had a clue as to what we are trying to accomplish. It appears a mob mentality forced the price of the Company down through panic, fear and false statements. We have a solid business plan that will take 2 years to complete and we will use all means to accomplish this goal. The use of our stock to accelerate this plan is not only the right thing to do, but it would be wrong not to. We promised no Reverse Splits and further reductions in the Authorized shares. We did not state we would not use our stock as currency if we needed to, we stated no more shares would be used to convert debt. I hope people have a clear understanding of why we did what we did and continue to be loyal shareholders of the Company.”

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:

Matt Dwyer, President
matt@bcapent.com
954-623-3209

SOURCE 247MGI, Inc.