Bentley Receives Cash Deposit for $1.2 Million Agreement.Business Editors ATLANTA--(BUSINESS WIRE)--Nov. 20, 2002 Bentley Communications Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : BTLY) announced today that it has received a good-faith cash deposit required by the Letter Of Intent announced November 12. Under the agreement described by that LOI LOI Letter of Indemnity (international trade and carriage business) LOI Letter Of Intent LOI Loss On Ignition LOI Letter of Inquiry LOI Lack Of Information LOI Lack of Interest LOI Letter of Invitation LOI List Of Items , a public company will pay Bentley $1.2 Million in cash and stock for the right to market Bentley's payment gateway services to the securities industry. "We are very pleased that our proposed partner has confirmed their intentions by making the required cash deposit on a timely basis," said Harry Hargens, 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 Bentley, "and we look forward to signing a definitive agreement with them. That is expected to occur within the previously announced time frame." About Bentley Communications Corporation: Bentley's focus is on the implementation of services such as Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the payments via an ATM/Debit card from home or office, and for online purchasing of securities, using Kryptosima's payENKRYPT(TM) system. As previously announced, Kryptosima is becoming 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. For additional information see www.Bentleycommunications.com and www.Kryptosima.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 US banking industry. Their experience has primarily involved credit card processing, ATM-card processing, and home banking. payENKRYPT(TM) is Kryptosima's patent-pending service for online payments. For further 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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