4net Software Agrees to Acquire a Growing Profitable Software Company.Business Editors/High Tech Writers RIDGEFIELD Ridgefield. 1 Residential town (1990 pop. 20,919), Fairfield co., SE Conn.; inc. 1709. Industries include nurseries, pharmaceuticals, and electronic research. The battle of Ridgefield (Apr. , Conn.--(BUSINESS WIRE)--July 10, 2001 Goal: Expand 4net Software product and service lines and achieve profitability 4net Software, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: FNSI FNSI Federazione Nazionale Stampa Italiana FNSI Finding of No Significant Impact FNSI First Nations Statistical Institute (Canada) ) signed a letter of intent to acquire a privately held, software company based in the Southwest USA. For the fiscal year ended October October: see month. 31, 2000 the software company booked revenues of approximately $2.7 million (Un-audited) and had earnings before income taxes in excess of $500,000 (Un-audited). 4net Software plans to complete the acquisition within the next 90 days. 4net Software expects to finance the cost of the acquisition through debt and equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. . The acquisition will increase 4net Software's product line, expand our distribution channels and should provide synergistic synergistic /syn·er·gis·tic/ (sin?er-jis´tik) 1. acting together. 2. enhancing the effect of another force or agent. syn·er·gis·tic adj. 1. opportunities between the products and services provided by the software company and 4net Software. With the completion of the acquisition, management expects 4net Software to report a profit for the next fiscal year, which ends September 30, 2002. "4net Software's objective is to create value for its shareholders through internal growth and acquisition of niche software companies with revenues and earnings." explains Steven N. Bronson, President of 4net Software, Inc. "The software company has met our acquisition criteria which include, among other things, a sound business model, proprietary technology, proven earnings, and a potential for growth in their existing market." About 4net Software, Inc. 4net Software, Inc. (OTC BB: FNSI), (http://www.4netsoftware.com/) is engaged in acquiring, managing, and operating niche software and Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the solution companies. 4net Software's objective is to offer businesses a platform of software related products and services. In addition to providing management and financial support, 4net Software also actively develops business strategies, operations, and management teams for its acquired companies. Currently, 4net Software Inc. provides content management software and develops business-critical Web sites. The company's flagship product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , 4netManager(TM), seamlessly bridges the gap between content creation and content delivery by giving non-technical users the ability to update and maintain their own Web site content. The functionality of 4netManager(TM) minimizes the cost of Web site maintenance and improves the process of sustaining a dynamic online presence. Certain of the statements contained herein are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those included in the forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Factors that could contribute to the uncertainty of forward-looking statements include, but are not limited to, competition for acquisitions, successful integration of acquired companies, and general economic factors such as the ability to obtain financing. 4net Software, Inc. undertakes no obligation to update publicly any forward-looking statements. For Investor information regarding 4net Software please contact: Traci Faughnan 203-894-9755 tf@ecatf.com. |
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