Care Concepts I, iBidAmerica Agree to Merge.Business Editors LITTLETON, Colo. & 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)--Nov. 15, 2002 Care Concepts I, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CCON CCON Call Control ), its principal shareholders, and iBidAmerica, Inc., have entered into a merger agreement in which privately-held IBID ibid abbr (= ibidem) → ib(id). will become a wholly-owned subsidiary of Care, the companies announced today. At closing, IBID will become a wholly-owned subsidiary of Care and all the shares of IBID's common stock will convert into an aggregate of 12,080,827 shares of Care common stock. In addition, the outstanding preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. of IBID shall be converted and, on the same terms and conditions, into an equivalent number of preferred stock of Care. At the closing, the officers and directors of Care will resign and will be replaced by IBID's officers and directors. The merger is conditioned on certain terms of closing being met, and there can be no assurances that the merger will be completed. It is anticipated that closing will occur by November 30. IBID, a Florida corporation, is an International Advertising and Marketing Sales Promotion Company. The company's marketing program showcases local and national businesses 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. IBID is active in South and Central Florida
Central Florida is the central region of the United States state of Florida, on the East Coast. , while currently implementing its expansion into other metropolitan markets. Its 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. . NOTE: This press release for Care Concepts I, Inc. and iBidAmerica, Inc. may contain 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. as defined in Section 27A of the Securities Act of 1934, regarding events, conditions and financial trends that may affect the Companies' operating results and financial position. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual events or results may differ from expectations, which are subject to various risks and uncertainties as listed in Care Concepts I SEC filings. The forward-looking statements made herein are based on information presently available to the management of the Companies. The Companies assume no obligation to publicly update or revise these forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized. |
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