Care Concepts I, Inc. Completes Acquisition of Controlling Interest in Foster Sports, Inc.Business Editors POMPANO BEACH Pompano Beach (pŏm`pənō), city (1990 pop. 72,411), Broward co., SE Fla., on the Atlantic coast and the Intracoastal Waterway; inc. 1908. It is a resort city with ocean beaches, excellent fishing, and a harness-racing track. , Fla.--(BUSINESS WIRE)--April 14, 2004 Care Concepts I, Inc. (AMEX AMEX See: American Stock Exchange :IBD IBD abbr. inflammatory bowel disease Inflammatory bowel disease (IBD) Disease in which the lining of the intestine becomes inflamed. Mentioned in: Amebiasis IBD 1. ) announced today that it has completed its acquisition of controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Foster Sports, Inc., a South Florida-based sports media Sports Media, Inc. (SMI) is a Sports Media and Marketing company that produces radio and television programming as well as representing professional athletes. 2002 Cowboys Live - Hosted by Dallas Cowboys Joey Galloway company that holds all programming rights to radio station WFLL 1400 AM The Fan. Care issued 480,000 shares of its stock in exchange for 80% interest in Foster Sports, a company that has had profitable operations for the prior two fiscal years. Care's growth strategy is premised on revenue-building for its subsidiary iBid America, Inc., and on future business combinations with other media and marketing companies. Care Concepts I, Inc. 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. Steve Markley said, "We are in the process of integrating the two businesses, employing Foster Sports' radio format to promote our iBid consumer and charity auctions, and building one strong sales force to cross sell advertising and marketing for both entities. We will continue to aggressively seek business combinations that will leverage our capabilities with compatible companies in which we might acquire an interest." Carl Foster, a 25-year sports reporting veteran and well-known radio personality, will remain president of Foster Sports. Foster Sports produces sports radio talk shows, one of which features Carl, 'The Foss' Foster, as well as additional programming during the NFL NFL abbr. National Football League NFL (US) n abbr (= National Football League) → Fußball-Nationalliga and college football season. Foster Sports' talk radio format airs current news from the world of sports, commentaries and interactions from the show's three popular hosts, feature-driven segments and frequent guest appearances by well known sports and sports-business personalities. Foster Sports also circulates a web-based newsletter to approximately 1.5 million sports fans on a weekly basis. About Care Concepts I: Care Concepts I, Inc. through its subsidiary iBid America, Inc. showcases local and national business on its Internet website http://www.ibidusa.com. Products and services are featured in an auction format starting with an opening bid of about 30% percent of the retail value. Many of the auctions benefit local and national charitable organizations. All visitors to the website, whether registered to bid or not, can download and print discount offer coupons from local and national businesses. The Company's executive offices are located in Pompano Beach, Florida Pompano Beach is a city in Broward County, Florida, along the coast of the Atlantic Ocean just to the north of Fort Lauderdale. The Nearby Hillsboro Inlet forms part of the Atlantic Intracoastal Waterway. As of 2006, the U.S. . Forward-Looking Statements: Statements about the Company's future expectations, including future revenues and earnings and all other statements in this press release, other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. The Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comment made within this press release; the Company will appropriately inform the public. |
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