AudioMonster Online Inc. Clarification Regarding ADS Technologies Inc. Share Purchase Agreement.Business Wire VANCOUVER, B.C.--(BUSINESS WIRE)--Aug. 11, 2000 AudioMonster Online Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMMQ) clarifies that its June 20, 2000 agreement to acquire 100% of ADS Technologies Inc. (ADST ADST Association for Diplomatic Studies and Training (Arlington, Virginia) ADST Advanced Distributed Simulation Technology ADST Alexandria University Desalination Studies and Technology Center (Egypt) ), a USA manufacturer of audio hardware products, has been terminated. AudioMonster's failure to make a payment on July 15, 2000 has resulted in ADST finding another purchaser before AudioMonster could secure alternative financing to the original source the company had procured. AudioMonster was in discussions with other financing groups to finance the acquisition of ADST. Should ADST fail to complete its sale, AudioMonster intends to further pursue the acquisition. AudioMonster will be seeking a legal opinion regarding recovery of some or all of its deposits paid to date to the vendor of ADST if AudioMonster cannot proceed with entering a new share purchase agreement with the vendor. AudioMonster will continue with its acquisition strategy in the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the and audio market spaces. AudioMonster is in negotiations for a new acquisition at this time. No agreement has yet been concluded with the potential target. The company will continue to update shareholders as developments occur. AudioMonster's online music label expects to promote four of its own CD releases in the fall. These CD releases are available for ordering from the company's 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. enabled web site at www.audiomonster.com and will be available in Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. brick and mortar See bricks and mortar. record stores in the fall. These releases include the brand new band Garnet Sweatshirt featuring Randy The name Randy generally derives from the names Randall or Randolph (meaning wolf with a shield). Randy is used as a given name primarily in the US and Canada. Men known as Randy
Unlike other online music ventures AudioMonster licenses, produces, distributes, and promotes music from quality artists. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Jupiter Communications the offline portion of the music industry will still account for 75% of music sales by 2005. The online portion is expected to grow to 25% of total music sales by 2005. To date over 90% of AudioMonster's CD sales has come from offline distribution. AudioMonster believes it is important to have an offline distribution strategy to ultimately succeed in the online music market. The private securities act of 1995 provides a "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. " for forward looking statements. This release may contain "forward looking statements" and other oral or written statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward looking statements". Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "should", or "might" occur. |
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