Basic Fusion Inc. Announces Chief Operations Officer; KwikWeb.com Inc. Adds Second Executive to Subsidiary, Basic Fusion Inc.Business Editors & High-Tech Writers ENCINITAS, Calif.--(BUSINESS WIRE)--March 5, 2001 KwikWeb.com Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :KWEB) has named James Woods chief operations officer of Basic Fusion Inc., an Internet Domain Name An organization's unique name on the Internet. The chosen name combined with a top level domain (TLD), such as .com or .org, also called a "domain extension," makes up the Internet domain name. For example, computerlanguage.com is the domain name for the publisher of this Encyclopedia. technical registry provider. Woods joins Josh Elliott, who was recently named president and 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. of Basic Fusion Inc., on the management team. "James is an invaluable addition to our team. His technical experience and ability to lead the development team is a significant asset for this company," Elliott said. Woods has extensive technical experience in various high tech fields. His areas of expertise range from Internet fraud detection to product management for a renowned domain name registrar An organization that manages Internet domain names. Any person or company that wants a presence on the Internet must register a unique name with one of the many registrars, such as Network Solutions (www.netsol.com) or Go Daddy (www.godaddy.com). . "I'm very excited by the opportunity to build a world class registry system. I feel that my past experience in transactional based systems within the domain space combined with the experience of Basic Fusion's staff will result in a truly innovative solution for our clientele," Woods stated. One of Woods' most recent achievements was designing and implementing internationalized domain names in Chinese, Korean, Japanese and European language sets, and supporting the release of new ccTLDs (country code Top Level Domains) to channel partners. Woods affirmed, "Basic Fusion is poised to create a very specialized niche for itself within its target market. By assisting ccTLDs in expanding and upgrading their systems, Basic Fusion is helping expand the overall TLD (Top Level Domain) The highest level domain category in the Internet domain naming system. There are two types: the generic top level domains (gTLDs) such as .com, .org, and .net, and the country codes, such as .ca, .uk and .jp. See gTLD and Internet domain name. namespace without the delays we've seen in the new gTLD landscape. This allows ccTLD operators a golden opportunity to raise the profile of their respective TLDs." About Basic Fusion Basic Fusion Inc. is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of KwikWeb.com Inc, and joins KwikWeb.com Inc. holdings in .KIDS Domains Inc. within the Top Level Domain portion of the company's portfolio. Basic Fusion Inc. will seek to leverage the experience and expertise, which KWEB has gained by participating in the recent ICANN (Internet Corporation for Assigned Names and Numbers, www.icann.org) A non-profit, international association founded in 1998 and incorporated in the U.S. It is the successor to IANA (Internet Assigned Numbers Authority), which manages Internet addresses, domain names and the huge number TLD allocation process, to take advantage of the rapidly growing TLD market. About KwikWeb.com Inc. KwikWeb.com Inc., a development stage company, is the parent company of Internet Properties Development Corp., Wireless Properties Development Corp. and 20% stakeholder in KwikCommerce Inc. Internet Properties Development Corp. was organized in June as a wholly owned subsidiary of KwikWeb.com Inc. Internet Properties Development Corp. seeks to develop, acquire and fund Internet companies that own technologies used in the Internet and companies who can benefit from the dramatic cost savings and market awareness that the World Wide Web offers. IPDC (Internet Protocol Device Control) A protocol for controlling media gateways developed by the Technical Advisory Committee, which was convened by Level 3 and others. owns stakes in .KIDS Domains Inc., Minority Business Alliance LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , and JoeDomains.com. IPDC also owns and operates several Internet sites including GasPrices.com and Incubate incubate /in·cu·bate/ (in´ku-bat) 1. to subject to or to undergo incubation. 2. material that has undergone incubation. in·cu·bate v. 1. .net. This release contains forward-looking statements, which are made pursuant to the safe-harbor provisions 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. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including (i) all of the risks and uncertainties associated with a start-up business; (ii) the company's present lack of capital and its ability to obtain capital as needed; (iii) intense competition for Internet products and services; (iv) the timely development and market acceptance of the company's products and technologies; and (v) the successful integration of acquisitions and lines of business. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. |
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