Bentley Sub to Acquire Gibraltar Clearing.Business Editors LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. & DEL MAR Del Mar is the name of several places in the United States of America:
Bentley Communications (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BTLY) today announced that its 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. Kyrenia Acquisition Corp. has signed a Letter of Intent to Acquire 100% of Gibraltar Clearing, Inc. (a closely held corporation Noun 1. closely held corporation - stock is publicly traded but most is held by a few shareholders who have no plans to sell corp, corporation - a business firm whose articles of incorporation have been approved in some state ) in exchange for stock and other valuable consideration. Kyrenia's name will be changed to Gibraltar Clearing, Inc. and it will begin the process to become a fully reporting, publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . The management of Gibraltar will be both separate and independent of Bentley and will focus exclusively on the use of e-business solutions for the securities/brokerage industry. Under the planned Acquisition Agreement, Bentley will grant Gibraltar an exclusive license for the use of Bentley's e-commerce solutions featuring ATM@Home (a), in the securities/brokerage industry. "Gibraltar is pleased with the Agreement we are working towards with Bentley and Kyrenia. Once finalized, this Agreement will enable Gibraltar to further advance its business plan," said Lori Serafino, J.D. President/CEO of Gibraltar Clearing. "This is a logical step which will allow Gibraltar to expedite implementation of Instant Cash Payments made by an ATM/Debit card from home or office, to or from a brokerage account Brokerage Account An arrangement between an investor and a licensed brokerage firm that allows the investor to deposit funds with the firm and place investment orders through the brokerage, which then carries out the transactions on the investor's behalf. . This will make securities brokerage clients' funds immediately available for opening accounts, trading transactions, or any other capital-related brokerage transactions." "This is a much needed, long overdue solution for the small-to-mid size online brokerage and clearing houses. We are very excited about this new direction and will agree to license our technology to Gibraltar for this huge niche market A niche market also known as a target market is a focused, targetable portion (subset) of a market sector. By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. ," states Gordon Lee, President & 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. About Bentley Communications Corporation Bentley, through one of its wholly owned subsidiaries, is negotiating online gaming licenses in conjunction with several California based Indian gaming casinos and card rooms to operate legal Internet gaming sites inclusive of sports books, horseracing, poker, and bingo. Bentley adheres to all federal guidelines that prohibit gambling in the U.S. and Canada. In addition, Bentley has various e-commerce and transaction solutions for most Internet businesses. For additional information, see: www.bentleyintl.com (a) Bentley's ATM@Home system and debit cards have the capability to confirm both the age and address of the user. ATM@Home(TM) is a trademark of Bentley Communications Corp. For further information on Gibraltar Clearing, Inc. visit their website at www.gibraltarclearing.com About Equitilink: Equitilink assists public companies in improving their shareholder relations through professional, cost-effective public/investor relations strategies and specializes in working with small-cap and micro-cap companies. Equitilink helps its clients achieve fair market value by expanding public awareness and enhancing corporate image. Additional information is available on the Web at http://www.equitilinkpr.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. : Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities and Exchange Act of 1934 and are subject to the safe harbor created under those sections. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion