Basic Fusion Inc. Partners with Internet Properties Development Corp.; Partnership with IPDC's Portal Seniors.com, Establishes a Strong Presence in the Marketplace.Business Editors & High-Tech Writers VALENCIA, Calif.--(BUSINESS WIRE)--April 20, 2001 Basic Fusion Inc., a majority owned subsidiary of KwikWeb.com Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: KWEB) announced today the signing of a domain name registry A domain name registry, also called Network Information Centre (NIC), is part of the Domain Name System (DNS) of the Internet which converts domain names to IP addresses. services contract with Internet Properties Development Corp. for their Seniors.com portal. "We're very excited to sign a registry contract at such an early stage in the development of our company," said Josh Elliott, 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. "It is important for us to quickly establish our presence in this marketplace." Seniors.com is an online destination for Internet users over the age of 50, and currently offers an engaging host of activities, articles, tools for living, and community forums. Elliott noted, "Our registry agreement with Internet Properties allows us to demonstrate a live product to our future clientele while also assisting Seniors.com in cultivating a unique portal community for senior citizens." The Basic Fusion system will enable end users to register domain names under the seniors.com second level domain (SLD (Second Level Domain) See Internet domain name. ) registry such as "shop.seniors.com" or "travel.seniors.com." "We think the Basic Fusion registry solution adds tremendous value to the Seniors.com community while also opening up an entirely new revenue opportunity. Seniors.com domain names should have significant appeal to businesses looking to target this fast growing online demographic," said Internet Properties President Matt Hayes. Internet Properties Development Corp. 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. About Basic Fusion Inc. Basic Fusion is a majority owned subsidiary of KwikWeb.com Inc. Basic Fusion seeks to provide state-of-the-art registry solutions that will meet the growing demands of the domain name marketplace. Basic Fusion will focus on serving the international Top Level Domain (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. ) market by leveraging the experience and expertise of its officers, which participated 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. About KwikWeb.com Inc. KwikWeb.com is an Internet holding company engaged in the business of providing domain-name registry operations and services, operating consumer information portals on the Internet, and providing facilities management services for commercial real estate owners. KwikWeb.com operates through its wholly-owned subsidiaries, Internet Properties Development Corp. and Faciliforce Inc., and its majority-owned subsidiary, Basic Fusion Inc. KwikWeb.com also seeks to develop 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. emerging Internet-based businesses. It currently owns minority interests in .KIDS Domains Inc., Minority Business Alliance LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and KwikCommerce Inc. 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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