Announcement from MarketCentral.net Corp.NEW YORK--(BUSINESS WIRE)--March 3, 1999--MarketCentral.net Corp. (NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:MKTS MKTS Military Knowledge and Testing Standard ) Wednesday announced that its merger and reorganization with All American Consultant Aircraft Inc. has been completed. MarketCentral.net will now trade on the NASD OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the new symbol MKTS. The CUSIP Number CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. is 57059T 10 6. Pursuant to the terms of the merger, the former shareholders of the private merged entity will receive 2,025,000 shares of MKTS. In addition, an aggregate of 400,000 options will be dispersed to board members and business associates at a price of $5.00 per share. The new board members will include Roy Spectorman, president/director; Gerald Yakimishyn, secretary/director; and Jerry Kaplan, director. Under the terms of a separate agreement, Meridian Mercantile Inc. will provide equity funding Equity funding An investment consisting of a life insurance policy and a mutual fund. The insurance policy is paid by the collateral value of fund shares, giving the investor the advantages of insurance protection with the growth potential of a mutual fund. for MarketCentral.net for the period prior to achieving secondary financing. Meridian Mercantile will explore different financing alternatives for the company. Meridian will also be responsible for the investor relations effort and technical support during the development phase of MarketCentral.net. MarketCentral.net provides financial products and services on the World Wide Web located at http://www.marketcentral.net. The site provides comprehensive investment tools for the individual investor including investment newsletters, timely financial news and information, mutual fund information, World Markets, a proprietary investment guide, MarketCentral.net's own newsletter, an online investment bookstore, chat rooms, contests and a full service shopping mall. The mall includes such brand names as Avon, Brookstone, Music Boulevard, Reel.com, Fashionmall.com, FAO FAO, n See Food and Agriculture Organization. Schwarz, eToys and Swiss Army Depot. The site is designed to appeal to an upscale audience of investors and consumers looking for financial information, investment products and related services. MarketCentral intends on using funds derived from future financings to continue to improve its Web site. MarketCentral intends to aggressively promote the site through a variety of online and traditional media sources in order to increase traffic to the site. Certain statements contained in this news release are "forward-looking statements" 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 as statements relating to financial results and plans for future business development activities, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to: economic conditions, competition and other uncertainties detailed from time to time in the company's Securities and Exchange Commission filings. |
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