Bentley Acquires BartercardUSA and First National Information Network.Business Editors LOS ANGELES--(BUSINESS WIRE)--Feb. 19, 2003 Bentley Communications Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTLY) is pleased to announce today the acquisitions of BartercardUSA (www.bartercardusa.com) and First National Information Network (www.fnin.com.) Each will become 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 Bentley. "Both companies are cash flow positive and will continue aggressive growth as a result of going public, as well as increase shareholder value for us," said Gordon Lee Gordon Lee may refer to:
BartercardUSA holds the American licensing rights for Bartercard International, which is the world's largest trade and barter barter: see exchange. barter Direct exchange of goods or services without the use of money or any other intervening medium of exchange. Barter is conducted either according to established rates of exchange or by bargaining. company with franchises in 14 countries. Currently, the parent company is facilitating more than 1.2 billion dollars worth of trade each year and over 50 million dollars in earnings in 2002. BartercardUSA was launched in April 2002 and currently has 18 offices and more than 2,000 member businesses with projected growth to over 20,000 by '05. BartercardUSA makes a significant cash override on every transaction and Bentley will automate BartercardUSA by implementing an "online" payment system. "Bentley is in the process of equipping BartercardUSA with a payment system similar to Visa or MasterCard. For the first time in the trade and barter industry in the U.S., each trade/barter transaction will be settled at the point of sale," 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. Lee, now all barter credits and fees can be transferred immediately, rather than "waiting for the mail, so to speak." First National Information Network (FNIN) is a teleservices company founded in 1992 focused primarily on lead generation for American business. FNIN provides full comprehensive demographics on every lead. Over 100,000 survey calls per week are made to identify an average of 3,000 pre-qualified participants who meet strict standards. This service currently generates over 50K per week in gross revenues. "The revolutionary FNIN survey is the key to its success. The state-of-the-art predictive dialing system allows live representatives to speak to a person every 30 seconds," states Mark Savoy, 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 FNIN. "The current repeat order rate from clients such as Merrill Lynch Merrill Lynch & Co., Inc. (NYSE: MER TYO: 8675 ), through its subsidiaries and affiliates, provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. and many other major brokerage firms confirms that FNIN leads are the best `investor' leads found anywhere," he adds. FNIN did over $1.5 million in gross revenue in '02, and should eclipse $10 million by the close of '05. Bentley is also pleased to announce that the managing director of Catalyst House, Lynnea Bylund, will continue to handle the investor relations Investor relations The process by which the corporation communicates with its investors. for the company. Her extensive client list can be viewed at www.catalysthouse.com. About Bentley Communications Corp. Bentley Communications' focus has been on the implementation of e-commerce services such as Internet payments via ATM cards An ATM card (also known as a bank card, client card, or cash card) is an ISO 7810 card issued by a bank, credit union or building society. Its primary uses 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. Certain statements in the news release may constitute "forward-looking" statements within the meaning of section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risk, uncertainties, and other factors, which may cause the actual results, performance expressed or implied by such forward-looking statements to differ materially from the forward-looking statements. |
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