Bentley Acquires Kryptosima.Business Editors LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--Aug. 22, 2002 Bentley Communications Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTLY) announced today that it has signed the Definitive Agreement to Acquire Kryptosima LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . "This acquisition will be a key step in the pursuit of the new business strategy that we adopted late this spring," stated Gordon Lee Gordon Lee may refer to:
"We are very pleased to be proceeding with this transaction," stated Harry Hargens, President of Kryptosima. "The market opportunity for our services is very exciting, and the synergies in combining Kryptosima and Bentley should increase shareholder value for the overall organization." Several positive changes for the company are related to this event. First, Guardian Financial and Gordon Lee personally returned a total of 18,500,000 shares to the company treasury yesterday, to help facilitate this transaction while minimizing shareholder dilution Dilution A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities. Notes: Adding to the number of shares outstanding reduces the value of holdings of existing shareholders. . Second, Bentley is acquiring a world-class management team. Effective on October 1, 2002, Mr. Hargens will become President and CEO of Bentley. Mr. Hargens and the other members of Kryptosima's management team all bring to Bentley over 20 years of management experience in the payments processing arena. Third, Bentley's name will be changed to better reflect the company's new business direction in line with this acquisition. The new name and CUSIP number CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. will be announced as soon as possible. About Bentley Communications Corporation: Bentley's focus is on the implementation of services such as Internet payments via an ATM/Debit card from home or office, for online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. of securities. With Bentley's system in place, the brokerage client's funds will be immediately available for trading, or any other capital-related brokerage transactions as we apply the ATM@Home(TM) system to the online brokerage community. Bentley is negotiating online brokerage and clearing firm agreements in order to further its mission that targets transaction based revenue from the fast growing on-line brokerage community. For additional information, see www.Bentleycommunications.com About Kryptosima: Kryptosima was founded in January 2000 to develop new Internet See Web 2.0 and Internet2. payment methods. Kryptosima's founders all have 18 to 30 years' experience developing and marketing services, software, and/or hardware for the U.S. banking industry. Their experience has primarily involved credit card processing, ATM-card processing, and home banking. payENKRYPT(TM) is one of Kryptosima's patent-pending services for online payments. For additional information, see www.Kryptosima.com 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 this 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, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. |
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