Aviation Industries and IMPI Enter Into Letter of Intent to be Acquired by ByeByeNow.com.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--June 4, 1999-- Aviation Industries Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:AVIA) and Integrated Marketing Professionals, Inc. (OTC BB:POKR) announced the signing of a Letter of Intent to be acquired jointly by ByeByeNow.Com, Inc., a recently formed South Florida company that intends to specialize in leisure travel tours and packages marketed on the Internet. Under terms of the agreement, shareholders of Aviation Industries Corporation (AVIA) will receive shares of ByeByeNow.Com totaling $9.2 million. Integrated Marketing Professionals, Inc. (IMPI impi Noun pl -pi or -pies a group of Zulu warriors [Nguni (language group of southern Africa) impi regiment, army] ) shareholders will receive shares of ByeByeNow.Com totaling $14.7 million. The exact number of shares to be received by the companies' shareholders will equal the price of shares in ByeByeNow.Com's initial public offering. The consummation of the acquisition is subject to the execution of a definitive acquisition agreement, which will require approval from shareholders of both companies. Aviation Industries was formed in May of 1998 as an investment concern. The company was in the process of merging with IMPI, a diversified travel and leisure company. IMPI owns Casino Airlink, a wholesale travel company that provides casino vacations from five cities in Florida The following is a list of incorporated cities in Florida. At the top is a list of the ten largest cities, followed by the complete list of incorporated cities arranged in alphabetical order. and Georgia to the Mississippi Gulf Coast The Mississippi Gulf Coast refers to the three Mississippi counties which lie on the Gulf of Mexico: Hancock County, Mississippi, Harrison County, Mississippi, and Jackson County, Mississippi. , and Reser Corporation, a company that handles tour reservations and inventory control for wholesale tour operators. IMPI has revenue of $17 million in 1998. William G. Forhan serves as chairman and chief executive officer for both companies. Aviation Industries recently completed the acquisitions of Cruising In Style, a Durham, N.C.-based travel agency with approximately $3 million in annual revenues; Norcross, Ga.-based Business Travel, Inc., a corporate travel agency with annual sales of approximately $25 million; Magnolia Tours and Transportation, a motor coach transportation company operating in the Mississippi Gulf Coast area; and Casino Marketing International, a casino player development company based in Boca Raton. ByeByeNow.Com is a newly formed company that intends to use Aviation Industries, IMPI and other pending acquisitions to create a profitable platform from which to launch an international travel and tour package operator marketed through the World Wide Web. Statements about the Company's future expectations, including future revenues and earnings, and all other statements in the press release other than historical facts are 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 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. The Company intends that such forward-looking statements be subject to the safe harbors 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. created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results could differ materially from expected results. |
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