Bentley CEO and 2nd Major Shareholder Cancel 18.5 Million Shares of Stock.Business Editors LOS LOS Length of stay, see there ANGELES--(BUSINESS WIRE)--Aug. 21, 2002 Bentley Communications Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTLY) announced today that Gordon Lee Gordon Lee may refer to:
Please [ improve this article] or discuss the issue on the talk page. , a major Bentley shareholder, have jointly decided to immediately cancel and return to the company treasury a total of 18,500,000 restricted shares of Bentley stock. A written agreement finalizing this was signed late yesterday. Gordon Lee will return 5,500,000 restricted shares to the company's treasury. Guardian Financial Services will return 13,000,000 restricted shares to the company's treasury. Lee offered the following explanation for this dramatic action: "I have a deep belief in the tremendous potential of the new direction that Bentley has taken. After much consideration on the best way to proceed with acquisitions and funding for this new direction, I concluded that the best course of action was to cancel some of my shares and return them to the company treasury, for use in furthering the company's business plan. Guardian Financial, a major shareholder, shares my belief and has agreed to join me in this action by returning thirteen million shares to the company treasury. This action will help enable Bentley to proceed with needed acquisitions and funding, while minimizing shareholder dilution." 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. 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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