Boppers Holdings and e Smart Systems Announce Completion of Merger; e Smart Systems is now a Wholly Owned Subsidiary of Boppers Holdings.Business Editors LAS VEGAS--(BUSINESS WIRE)--Nov. 29, 2000 Boppers Holdings Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : BOPP) Wednesday announced that on Nov. 27, 2000 it closed the acquisition of e Smart Systems Inc. ("eSmart") through a merger transaction with a subsidiary of Boppers. Under the merger, eSmart has become 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 Boppers. To reflect its new business, Boppers plans to recommend in a special shareholders meeting that its shareholders agree to a change in the company's name to e-Smart Technologies Inc., as soon as practicable practicable adj. when something can be done or performed. . In connection with the merger, all of the officers and directors of Boppers have resigned and John D. Phelan has become the sole officer and director of the company. eSmart holds an exclusive technology license covering the territory of China, to manufacture and to supply a new generation of proprietary, Secure, Multi-Application Smart Cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. . In addition, this exclusive technology license allows eSmart to use the proprietary technology to create, operate, service and maintain, secure, end-to-end Smart Card Transaction Networks. In its licensed territory, eSmart is a one-stop source for end-to-end Secure Smart Card transaction systems and operations. eSmart believes that its licensed technology is the ultimate in Secure, Multi-Application Smart Card technology to be found in the world today. Among other benefits, eSmart's technology brings to its customers new and consumer-friendly payment and value-added solutions that speed and simplify the transaction process at the point-of-service in the retail, financial, hospitality, healthcare and transportation industries, among others, with a level of security, heretofore not found in the industry. eSmart's software and hardware solutions minimize transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). , simplify operations, virtually eliminate transaction fraud and improve profitability. eSmart has already commenced marketing operations in China and hopes to achieve rapid market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" during the coming months. This press release contains 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. . All forward-looking statements -- such as the statement regarding our belief of the licensed technology -- involve risks and uncertainties, including, but not limited to, risks and uncertainties pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to the development of our products and services and markets for such a product and services, the timing and level of customers' orders, competitive products and services and pricing. Actual results, performance and events may differ materially from those projected. |
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