Biofiltration Systems Inc. Announces Letter of Intent to Acquire a Wireless Network Provider and Issues Statement.Business Editors/Technology Writers SARASOTA, Fla.--(BUSINESS WIRE)--June 5, 2000 Biofiltration Systems Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BIFS BIFS Binary Format for Scenes BIFS Built-in Functions (Arithmetic) BIFS Biotechnology Information for Food Safety BIFS Backoff Inter-Frame Space ) announced today that its Technology group Beachaccess.net, 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 Biofiltration Systems, has signed a letter of intent to acquire Revcon Technologies Corp., a wireless Internet company out of Tennessee. Al Keyser commented on the progress of the technology group, stating, ".....The technology group is making fascinating developments in the wireless arena. We are pleased with the aggressive growth and sound business plan of Beachaccess.net. Their priority to stay at the forefront of new technology will assure them their ability to reach their strategic goals. With the completion of this acquisition it will open the door for our technology group to accelerate their wireless network and bring experienced wireless engineers on board." The acquisition is expected to be completed by 06/11/2000 pending final analyst of their numbers. Al Keyser further commented on the recent developments, stating, "BIFS has been and will continue to be committed to increasing shareholder value for our investors .In no way are we deviating from our original business model only enhancing the operation of the overall company." Jay Knabb commented, "We are pleased with the progress of our growth and plan to continue to expand our Internet operations ahead of schedule, and well within budget." "This Alliance is designed to give our company an additional avenue of revenue growth and to give our shareholders the opportunity to participate in a rapidly growing industry and share in the potential impressive profits that can be derived from these operations." 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. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained herein which are not historical are 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. that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, the Company's ability to market its products and services and future customer acceptance for these products and services and other risks detailed from time to time in company documents furnished fur·nish tr.v. fur·nished, fur·nish·ing, fur·nish·es 1. To equip with what is needed, especially to provide furniture for. 2. to investors. CONTACT: BioFiltration Systems, Inc., Sarasota, Al Keyser Toll Free: 888/246-3587 or 941/343-9300 Fax: 800/536-9379 or 941/343-0404 URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : www.biofiltrationsystems.com Email: bfs@gte.net |
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