Care Concepts I Announces Termination of Letter of Intent.DEERFIELD BEACH Deerfield Beach, town (1990 pop. 46,325), Broward co., SE Fla., on the Atlantic coast; inc. 1925. The development of high-technology industry and commerce expanded the town and more than doubled its population between 1970 and 1990. , Fla. -- 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. ) (or the "Company") announced here today that, by mutual agreement, it has agreed with Aries Capital Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to terminate a non-binding letter of intent regarding the proposed acquisition of Best Candy and Tobacco Company by IBD. "We have agreed with the management of Aries that the shareholders of Best and IBD are better served by Best remaining an independent company. IBD remains committed to increasing shareholder value through acquisitions and organic growth," said Gary Spaniak, Jr., the company's president. In a separate release, the Company also announced today that it has completed the purchase from PET Capital Partners, LLC and its affiliates (the "Bell/Staton Group") of 39.3% of the equity of Penthouse Media Group, Inc., formerly known as General Media, Inc. The Company's investment is in the form of non-voting common stock, identical in all other respects to the voting common stock of Penthouse Media Group, and represents 39.3% of the currently outstanding common stock of Penthouse Media Group. About Care Concepts I, Inc. Care Concepts I, Inc. (AMEX:IBD) is a media and marketing holding company with interests in online auctions and radio programming and, through the transaction disclosed above, owns an equity interest in Penthouse Media Group, Inc., an established media, entertainment and licensing company. Other operating companies are Forster Sports, Inc., a sports-oriented, multi-media company that produces sports radio Sports radio (or sports talk radio) is a radio format devoted entirely to discussion and broadcasting of sporting events. A popular format with an almost exclusively male demographic in most areas, sports radio is characterized by an often-boisterous on-air style and talk shows; and iBidUSA.com, a popular website which showcases products and services in an auction format starting with an opening bid of about 30% percent of the retail value. This release contains statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future results of the Company that are "forward-looking statements" as defined in 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. Actual results may differ materially from those projected as a result of various risks and uncertainties. In particular, there can be no assurance that Care Concepts' investment in Penthouse Media Group will financially appreciate or will enhance its existing businesses. |
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