``Global Online India'' Changes Trading Symbol to: ``GOLX''.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 22, 2000 Global Online India, Inc., a publicly owned Delaware corporation, previously trading on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTCBB OTCBB See OTC Bulletin Board (OTCBB). as: ENEI ENEI Encuesta Nacional de Empleo e Ingresos (Guatemala) , is now trading under the new symbol: "GOLX". "The new trading symbol more perfectly reflects our name and global business", said Dr. Christopher W. Hartnett, chairman of Global Online, Inc. and Global Online India. "We want to build consumer and corporate awareness of `GOL' as the premier brand for global e-commerce around the world. Everyone has heard of "AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ". Now is the time for everyone to get to know and love "GOL GOL - General Operating Language. Subsystem of DOCUS. [Sammet 1969, p.678]. ," a truly global Internet service provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. and international meta-hub portal. GOL India serves a pivotal role in Global Online's (GOL's) strategy to develop the world's first true gateway to international life and world trade. It is important that Global Online India's symbol reflect its status in the GOL family of companies. We consider it to be one of our crown jewels of the emerging Internet geographies." On August 18, 2000, Global Online India paid a 200% dividend to all shareholders. Its ex-dividend stock price closed on August 21 at $8.56. There are now 50,004,275 shares of the company's Common Stock outstanding. "This dividend places us in a better position to build upon current strengths and to add shareholder value through the timely execution of our Indian business strategy." said Dr. Hartnett. Global Online India is the premier provider of e-commerce services and e-business solutions to the 1.0 million Internet users in India and to the approximate 20.0 million Indian expatriates around the world through its meta-hub "www.GOLindia.com". This international meta-hub currently provides an impressive range of business services such as: online forms for Indian taxation, customs, and import/export businesses; a loan finding service; Indian rail, air and movie tickets; online insurance and credit card applications; online medical and legal advice; and web stock trading and advanced technical analysis, among others. General services for end-users and small businesses include: news, chat, Bollywood, e-greetings, sports, stock information, auctions, classifieds, yellow and white pages, and jobs. "We are going to strongly challenge the positions of Satyam Infoway (Nasdaq:SIFY), Rediff (Nasdaq:REDF REDF Roberts Enterprise Development Fund (San Francisco Bay area, California) REDF Real Estate Development Fund ) and VSNL VSNL Videsh Sanchar Nigam Limited (India) (NYSE NYSE See: New York Stock Exchange :VSL)", said Avanish Pande, president of portal development at GOL India, "because we have an integrated international ISP, ASP and meta-hub approach. With many new B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business and B2C users coming online throughout India in the next three years, we intend to aggressively market our distinctive services in India and in ex-pat communities such as Malaysia, Singapore, the USA, Middle East and Canada." GOL India is also partnering with Uttar Pradesh Development Systems Corporation Limited (UPDESCO). This government-owned corporation serves the state of Uttar Pradesh, the largest of 29 states in India, with a population of approximately 170.0 million. GOL India will provide Internet access, web hosting and other Internet-related services to the state government of Uttar Pradesh. GOL India is affiliated with Global Online, Inc. (GOL), its major shareholder, and is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of USA Global Link. Global Online (GOL) an international meta-hub at "www.GlobalOnline.com", is the premiere global gateway to international life and world trade providing B2B and B2C e-commerce services through its 5,680 web sites in 18 languages and 29 currencies. This press release contains forward-looking statements that are subject to risks and uncertainties. Any statements that are not statements of historical fact (including without limitation statements to the effect that the Company or its management "believes," "expects," "anticipates," "plans" and similar expressions) should be considered forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, uncertainties related to demand for the company's services; costs of operation; changes in laws or regulations or in their interpretation; technological changes; economic conditions and other risks described from time to time in the Company's filings with the Securities and Exchange Commission. Global Online India is currently trading on the NASDAQ OTCBB under the symbol: "GOLX". |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion