Centra Capital Announces Completion of Merger With INTO 2000, Inc; Nine Month Financials Show Strong Earnings.JASPER, Ga.--(BUSINESS WIRE)--April 16, 1999-- Centra announced the completion of the merger of INTO 2000, Inc. with Centra Technology Corporation, 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 Central Capital 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 - CENC CENC Community Environmental Health Concerns CENC Convergent Engine Nozzle Control ) following the final transfer of an undisclosed amount of cash and stock. Centra also released interim nine-months financial results of its newest operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. through January, 1999 showing revenues for INTO 2000, Inc. of $3,383,707 with a net profit before taxes of $601,755. Centra Capital Chairman Tony Joyce said, "We are delighted that this important acquisition is now closed and that the earnings continue to be strong." INTO 2000, Inc. has been in the business of distributing the INTO2000 software system and related products to IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) AS/400 computer users throughout the Americas since 1996. INTO 2000, Inc. also owns a 30% stake in ValiDate/400, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a company that distributes Year-2000 tools worldwide. Thanks to the Company, the INTO2000 tool set is now installed at more than 600 companies representing over 1,100 installations worldwide. In addition, INTO 2000, Inc. products are used and sold by more than 200 service provider organizations to meet the Year-2000 needs of their clients. To date, more than two billion lines of RPG (Report Program Generator) One of the first program generators designed for business reports, introduced in 1964 by IBM. In 1970, RPG II added enhancements that made it a mainstay programming language for business applications on IBM's System/3x midrange computers. code have been processed through INTO2000. The tool set is ITAA-certified, has won every major industry award for customer acceptance and was named by Gartner Group to be the leading AS/400 Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 tool set available. Complete information about INTO 2000, Inc. may be found on the Internet at www.into2000.com. Information about ValiDate/400 may be found at www.validate400.com. Centra Capital Corp. is an active investment holding company specializing in computer software and Internet businesses that acquires products and service companies and provides capital for their growth. Statements in this document, other than statements of historical information, are forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested due to certain risk and uncertainty. The forward-looking statements contained herein represent the Company's judgement as of the date of this release and the Company cautions readers not to place undue reliance on such statements. This release is for information purposes only and is not an offer for sale nor a solicitation for an offer to buy securities. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion