Bentley Announces New President.Business Editors LOS ANGELES--(BUSINESS WIRE)--Oct. 1, 2002 Bentley Communications Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTLY) announced today that Harry Hargens will join Bentley effective immediately as President and a member of the Board of Directors. Mr. Hargens brings a wealth of payment industry knowledge to Bentley, with 20+ years' management experience at equipment and service providers to the payments industry including Omron, Verifone, TransNet (now part of Paymentech), HONOR (now part of STAR), and Global Payments. On August 22, 2002, Bentley signed a definitive agreement to acquire Kryptosima LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , provider of the patent-pending platform used to provide secure payment transactions for the brokerage industry and other Internet merchants. Bentley plans to use this platform to provide services to the entire e-commerce market. The acquisition agreement provides for Hargens, President of Kryptosima, to also become President of Bentley. Due to current market conditions and various tax considerations, the parties have agreed to renegotiate re·ne·go·ti·ate tr.v. re·ne·go·ti·at·ed, re·ne·go·ti·at·ing, re·ne·go·ti·ates 1. To negotiate anew. 2. To revise the terms of (a contract) so as to limit or regain excess profits gained by the contractor. the terms of the agreement. Accordingly, the agreement did not close today as previously announced. However, Mr. Hargens will assume the role of President and a member of the Board of Directors of Bentley as of today, October 1, 2002. "I am pleased to accept the position of President of Bentley Communications. We are working diligently to resolve the issues that require the companies to renegotiate the acquisition agreement," stated Hargens. "Bentley is moving forward with the PayEnkrypt gateway and is excited to bring Mr. Hargens onboard Refers to a chip or other hardware component that is directly attached to the printed circuit board (motherboard). Contrast with offboard. See inboard. as President. Mr. Hargens' knowledge and experience in the payments industry will greatly benefit Bentley," says Gordon Lee Gordon Lee may refer to:
Further, Bentley will change its name to better reflect its new business direction and will apply for listing on the new bulletin board exchange (BBX BBX Business Basic Extended BBX Business Barter Exchange BBX Blue Bell, Pennsylvania (Airport Code) BBX Blockbuster Express (UK video store) ) later this year. 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 online brokerage community. This mission includes the issuance of co-branded debit cards debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. tied to Bentley's unique ATM@Home(TM) system. For additional information, see: www.Bentleycommunications.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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