AudioMonster Online Inc. Update Regarding ADS Technologies Inc. Share Purchase Agreement.Business Editors VANCOUVER--(BUSINESS WIRE)--July 17, 2000 AudioMonster Online Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMMQ) announced today that, it has not made a payment under its June June: see month. 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. AudioMonster has invested approximately USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $600,000 as a non-refundable deposit in pursuit of acquiring ADST. AudioMonster has approached the vendor of ADST in an attempt to renegotiate re·ne·go·ti·ate tr.v. re·ne·go·ti·at·ed, re·ne·go·ti·at·ing, re·ne·go·ti·ates 1. To negotiate anew. 2. To revise the terms of (a contract) so as to limit or regain excess profits gained by the contractor. the terms of the agreement. Additionally, AudioMonster will continue on with both its online music label development and acquisition strategy in the audio market space. AudioMonster has several new acquisition prospects under investigation at this time but to date no definitive agreements have been concluded. The company will continue to update shareholders as developments occur. For more information contact: Greg Corcoran President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. AudioMonster Online Inc. Tel: (604) 691-1765 Fax: (604) 608-4722 Email: gcorcoran@audiomonster.net 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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