AmeriStar Inc. Announces Affiliate Merger.Business Editors ST. GEORGE, Utah--(BUSINESS WIRE)--Jan. 27, 2000 AmeriStar Network Inc. (Symbol: AMWK)(http://www.ameristarnetwork.com), Thursday announced that an affiliate company, Ameristar Corp., has merged into JETCO JETCO Joint Economic and Trade Committee JETCO Joint Electronic Teller Services Limited JETCO Jamaica Export Trading Company JETCO James E Thomas Company (Memphis, TN) Inc. The name selected for the merged companies will be InTec Inc. PageOne Business Productions, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . Pacific Palisades Palisades, cliffs along the west bank of the Hudson River, NE N.J. and SE N.Y., extending from N of Jersey City, N.J., to the vicinity of Piermont, N.Y., with a general altitude of from 350 ft to 550 ft (107–168 m). , Calif. (www.invbank.com), financial consultant to JETCO Inc. will be retained by the company as a business consultant. InTec Inc. will focus on the opportunity of providing government and multi-national corporations with the most advanced Information Technology products and services, and intends to match that with investments in entrepreneurial companies in the early stages of developing and commercializing cutting edge technologies. The significant difference InTec will bring to these companies is an active participation by senior management in the development of the marketing, financing and operating strategies and a distribution capacity in the Information Technology sector unique to InTec Inc. This business model is not, with rare exceptions, currently utilized by business incubators Business incubators are organizations that support the entrepreneurial process, helping to increase survival rates for innovative startup companies. Entrepreneurs with feasible projects are selected and admitted into the incubators, where they are offered a specialized menu of and venture capitalists Venture Capitalist An investor who provides capital to either start-up ventures or support small companies who wish to expand but do not have access to public funding. Notes: Venture capitalists usually expect higher returns for the additional risks taken. . Senior executives of InTec Inc. have identified a number of companies that are at the forefront of developed sophisticated technologies in the fields of computer hardware and software, telephony Meaning "sound over distance," it refers to electronically transmitting the human voice. In the beginning, telephony dealt only with analog signals in the circuit-switched networks of the telephone companies. and medical technologies, many of which utilize the Internet for communication with the marketplace. InTec Inc. has received a funding commitment through an assignment from AmeriStar Network Inc. of a commitment by a private investor to invest $65 million in InTec Inc. for the contemplated acquisitions, investment capital and operating capital Noun 1. operating capital - capital available for the operations of a firm (e.g. manufacturing or transportation) as distinct from financial transactions and long-term improvements capital, working capital - assets available for use in the production of further assets . AmeriStar Network Inc. will receive 12 million shares of the merged companies. The formation of the affiliate company AmeriStar Corp. was approved by the board of directors of AmeriStar Network Inc. when it was realized that it could not meet the funding commitment conditions. The merger and assignment of the funding commitment was negotiated by PageOne and JETCO's President, George A. Todt. Todt stated, &uot;This business combination is another example of matching capital with Internet-powered entrepreneurs, but with seasoned executives and a clear distribution strategy usually missing from early stage companies.&uot; InTec Inc. will operate as an affiliate of AmeriStar Network Inc. and will be managed by a team of senior executives with extensive experience in early stage company development and growth. This press release may contain 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. . Forward-looking statements are subject to risks and uncertainties, including the risk factors listed in the company's reports filed with the Securities and Exchange Commission that could cause actual results to differ materially from those projected. |
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