AVE Inc. and CYCO.NET Inc. Sign Share Exchange Agreement.ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Aug. 3, 1999-- AVE Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: AVEN) Tuesday announced that it has signed a share exchange agreement with CYCO CYCO Cycle Code .NET Inc., a New Mexico corporation, effective on July 27, 1999, whereby AVE Inc. will acquire all of the issued and outstanding shares of common stock of CYCO.NET Inc. It is anticipated that the closing of the acquisition and share exchange will occur on Aug. 13, 1999. According to the agreement all officers of AVE Inc. and the board of directors will resign. The former chief executive officer of AVE Inc., R. Gene Klawetter will accept a position on the board of directors. Two additional directors have been appointed who are Francisco Urrea Jr. and Richard A. Urrea. On July 15, 1999 the board of directors authorized a reverse split whereby the company will issue one share of newly issued common stock in exchange for 2.47 shares of currently issued and outstanding common stock of AVE Inc. Written consent of a majority of shareholders approving the reverse split was given July 27, 1999. Fractional shares will be rounded up. The reverse split will be effective at the close of business Aug. 12, 1999. Also the corporation filed a certificate of amendment July 28, 1999 with the Nevada Secretary of State to change the name of the corporation to CYCO.NET Inc. Written consent of a majority of shareholders to approve the amendment to the articles of incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. to change the name to CYCO.NET Inc. was given July 27, 1999. CYCO.NET Inc. is a New Mexico-based corporation established in December 1998 to develop a network of cyber companies. These companies are to be centered around a site called the CYCO.NET (www.cyco.net). According to Richard A. Urrea, president and chief executive officer of CYCO.NET, "This site is a light hearted destination that will be the 'People Magazine' of the Internet. This format has proven itself by providing Time Warner with over a billion dollars of ad revenues annually. "That, combined with the CYCO.NET's e-commerce and various affiliations, such as AMAZON.COM (Nasdaq: AMZN AMZN Amazon.com (NASDAQ symbol) ), could amount to three times that figure. Not a portal like YAHOO.COM (1) (Computer Output Microfilm) Creating microfilm or microfiche from the computer. A COM machine receives print-image output from the computer either online or via tape or disk and creates a film image of each page. (Nasdaq: YHOO YHOO Yahoo! Inc. (NASDAQ symbol) ), the CYCO.NET will serve more as the launch pad to rocket the surfer into the deepest reaches of cyberspace. "We want to show our viewers the full potential of the Internet ... in other words Adv. 1. in other words - otherwise stated; "in other words, we are broke" put differently we want people to get cyked about the Internet." "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement Under 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: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements might not occur. Contact: Richard A. Urrea 600 Central Ave. SW 3rd Floor Albuquerque, NM 87102 505/244-0088 |
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