CenterSpan Acquires Supertracks Inc. Intellectual Property Assets.Business Editors HILLSBORO, Ore.--(BUSINESS WIRE)--Aug. 24, 2001 CenterSpan Communications Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CSCC CSCC Calgary Sports Car Club (Alberta, Canada) CSCC Clemson Sports Car Club CSCC Columbus State Community College (Ohio) CSCC Classic Sports Car Club (UK) ), a leading developer of next generation peer-to-peer (P2P See peer-to-peer and point-to-point. ) Internet content distribution solutions, today announced the acquisition of certain intellectual property assets from Supertracks, Inc. These assets include source code and documentation for Supertracks' BridgePort Music System, a secure local cache streaming technology. In addition, Supertracks' digital music distribution technology and several associated patents-in-process were also acquired. Current plans for the BridgePort technology include integration with C-star, CenterSpan's mediated P2P content distribution platform. Supertracks received approximately 66,900 shares of CenterSpan common stock at a price of $11.21 per share, for a total acquisition price of $750,000. "Supertracks was an innovator in the distribution of content to secure local caches. Our acquisition of Supertracks' technology will help extend the distribution capabilities of the C-star platform," said Frank Hausmann, CenterSpan's Chairman and 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. . CenterSpan's CTO (Chief Technical Officer) The executive responsible for the technical direction of an organization. See CIO and salary survey. , Michael Hudson, and VP of Engineering, Alfred Lee Alfred ("Butch") Lee (born December 5 1956 in San Juan, Puerto Rico) is a retired Puerto Rican professional basketball player. He is the first Puerto Rican national to play in the National Basketball Association (NBA). , recently joined the company from Supertracks, and will be instrumental in using the Supertracks technology effectively to drive the accelerated development of C-star. About CenterSpan Communications Corp. CenterSpan Communications (NASDAQ:CSCC) develops and markets next-generation peer-to-peer Internet content distribution solutions. C-star, the company's mediated peer-to-peer platform, is one of the lowest cost channels enabling the secure distribution of digital content such as music, video, publications and images, as either downloadable or streamed files. The company's retail site, Scour scour, scours 1. the chemical and physical cleaning of fleece wool. 2. diarrhea. dietetic scour see dietary diarrhea. peat scour see secondary nutritional copper deficiency. .com, is the first branded retail destination built on the C-star platform and a premier source for high quality legitimate entertainment content. CenterSpan is headquartered in Hillsboro, Oregon Hillsboro is a city in and county seat of Washington County, Oregon, United States.GR6 The community began in 1842 and was named Hillsborough in 1850, before incorporation in 1876 as Hillsboro. and maintains offices for its Digital Media and Entertainment Group in Los Angeles. Visit www.centerspan.com for more information. This news release includes forward-looking statements. Investors are cautioned that forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. CenterSpan is a venture stage company. The company's peer-to-peer Internet content distribution channel is a new business in an emerging and rapidly evolving market. Specific statements regarding the timely launch of content distribution services such as C-star and Scour, new products, content acquisition, number of registered users, new business opportunities, new revenue model and potential earnings leverage are forward-looking statements. Investors are encouraged to review the company's filings with the Securities and Exchange Commission, including the company's 2000 Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , for a further description of the risks and uncertainties relating to forward-looking statements made by the company, as well as to other aspects of the company's business. |
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