AmeriStar Network, Inc. Announces Letter of Intent to Acquire Government Micro Resources, Inc.ST. GEORGE, Utah--(BUSINESS WIRE)--April 29, 1999-- GMR (Giant Magnetoresistance) See magnetoresistance. is a Virginia Based Provider of Information Technologies as Well as Manufacturers of Specialized Main Frame Computers AmeriStar Network, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AMWK - news), (http://www.ameristarnetwork.com ), Thursday announced that the deposit requirements to execute a letter of intent signed April 7th, 1999 between Government Micro Resources, Inc. (GMR) and CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. Technologies, Inc. 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 AmeriStar, as been met. AmeriStar will acquire all of the assets and 49% of the issued and outstanding shares of GMR. The initial deposit of $500,000 of capital has been deposited into an escrow account at Attkisson, Carter & Akers, Inc., an Atlanta Georgia brokerage firm, for the benefit of GMR. The total purchase price will be disclosed at a later date. GMR is a recognized leader in providing information technologies to the public and private sector. GMR was ranked 44th in revenue in supplying IT products and services to the federal government. In 1997, GMR was cited as the second largest 8(a) government contractor and 35th in NASA's top 100 federal contractors. GMR forecasts $143.1 million in total revenues for 1999 with a net income of 4.1 million. GMR contract revenue for 1998 was $114.4 million. GMR's 1999 revenue resources by category are 39.9 m (28%) from NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. -- 35.8 m (25%) civilian, 29.2 m (20%) D.O.D., 14.8 m (17%) other. Other targeted inter-phase acquisitions to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. after the first phase of interim financing. |
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