Career Worth, Inc. Strikes Stock Exchange Agreement With Regency Development Corporation.Business Editors SALT LAKE CITY--(BUSINESS WIRE)--April 17, 2002 Career Worth, Inc. ("Career Worth") (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CRWO) announced Wednesday that it has acquired all of the outstanding Class A Convertible Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. of Regency Development Corporation ("Regency"), a Nevada corporation. With this stock exchange agreement, dated March 6, 2002, Career Worth acquired Three Million Five Hundred Thousand (3,500,000) shares of Class A Convertible Preferred Regency Stock while issuing to Regency Ten Million (10,000,000) Career Worth restricted common shares, thus making Regency 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 Career Worth. Regency Development Corporation is a privately held Nevada corporation whose main asset is a 40 acre plot of land located in Oasis, Nevada. Regency originally purchased this property for future development. It was subsequently re-zoned for casinos, hotel, and retail development. An MAI MAI Mail (File Name Extension) MAI Multilateral Agreement on Investment MAI Maius (Latin: May) MAI Ministerul Administratiei si Internelor (Romanian) appraisal on the property indicated a value of $4,895,000. There is a Secured Promissory Note promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. of Two Million Dollars ($2,000,000) on the property. Career Worth Inc. (OTCBB:CRWO) is a public company with multi-faceted industry sectors, including: a leading edge provider of professional services and Internet tools that assists companies in achieving their employment objectives; a full service, totally integrated, employment and human resources solution company that primarily focuses on the Internet as a delivery method for systems and information; a development and construction division specializing in strip mall development and home construction. AALL AALL American Association of Law Libraries AALL Association for Academic Language and Learning (Australia) Finished Construction, Inc., a wholly owned subsidiary of Career Worth, will be the vehicle to accomplish the construction division's objectives. Career Worth also is majority owner of Internet Eye Doctor, an eyewear provider that provides eyeglasses eyeglasses or spectacles, instrument or device for aiding and correcting defective sight. Eyeglasses usually consist of a pair of lenses mounted in a frame to hold them in position before the eyes. , accessories, and contacts via the Internet and television at discount prices. Currently operating in Utah, Internet Eye Doctor is in process of expanding to four additional states (California, New York, Nevada, and Kansas) and expects to compete aggressively with other known Internet eye wear providers, such as 1-800-Contacts (NasdaqNM:CTAC CTAC Chemical Transportation Advisory Committee CTAC Counter-Drug Technology Assessment Center CTAC Customer Technical Assistance Center (Sprint) CTAC Center for Army Tactics CTAC Carlsbad Field Office Technical Assistance Contractor ). Forward looking statements: This news release contains certain "forward looking" statements within the meaning of 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, which provides a new "safe harbor" for these types of statements. To the extent statements in this news release involve, without limitation, product development and introduction plans, the company's expectations for growth, estimates of future revenues, expenses, profits, cash flow, balance sheet items, sell-through or backlog, forecasts of demand or market trends for the company's product categories and for the industries in which the company operates, or any other guidance on future periods, these statements are forward-looking statements. Career Worth does not assume any obligation to update forward-looking statements. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion