Art Cards Completes Reverse Acquisition of uMember.com.Business Editors DENVER--(BUSINESS WIRE)--March 16, 2000 Art Cards, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ATCD ATCD Air Training Communications Division ) announced today that shareholders have approved all resolutions and matters relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's previously announced reverse acquisition of uMember.com, and that the transaction has been finalized See finalization. . A shareholder's meeting was held on March 16, 2000, for the purposes of, among other things, authorizing a name change from Art Cards, Inc. to uMember.com, Inc., and authorizing a 2050:1 reverse split of Art Cards common stock. Effective with the start of trading on Friday morning, March 17, 2000, Art Cards shares will trade under the symbol "UMEM UMEM Universal Memory Module " on the Over- The-Counter Bulletin Board. Current Art Cards shareholders will receive instructions in the coming weeks, including letters of transmittal, from the Company's transfer agent with complete instructions regarding the exchange of pre-split Art Cards shares for post-split uMember.com shares. The Company further announced that approximately seventeen million uMember.com shares have been issued to existing uMember.com shareholders, bringing the total uMember.com shares outstanding on a post-split and post-consolidated basis to approximately twenty million. About uMember.com uMember.com is an E-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. company that enhances membership organizations with the power of online shopping, auctions, consumer and community services. The Company helps organizations build "E-Relationships" with their members through engaging and interactive online communities featuring chat rooms, bulletin boards, news, classified ads, entertainment and personal interest channels. uMember.com is located on the World Wide Web at www.umember.com. This news release contains 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 Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in future operating results due to a number of economic, competitive and other factors, including, among other things, the size and timing of customer contracts, new or increased competition, changes in market demand, and seasonality of purchases of the Company's products and services. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors that could materially affect the Company and its operations are included on certain forms the Company files with the Securities and Exchange Commission. |
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