ClassicVision Announces Receipt of Offers for Subsidiaries.SAN DIEGO--(BUSINESS WIRE)--Nov. 23, 1999-- The Board of Directors of ClassicVision Entertainment Inc. (Pink Sheets:CLVE) announces that it has received an offer for the Company's interest in Advanced Video Fluoroscopy fluoroscopy /flu·o·ros·co·py/ (fldbobr-ros´kah-pe) examination by means of the fluoroscope. fluo·ros·co·py n. Examination by means of a fluoroscope. Also called radioscopy. & Nuclear Imaging Inc. ("AVF AVF Arteriovenous Fistula AVF All Volunteer Force AVF American Vineyard Foundation AVF Azimuthally Varying Field AVF Ada Validation Facility AVF Augmented Voltage Foot (EKG lead) AVF Average Value Factor ") from Pierre Quilliam Design Inc. and the resignation of Robert Larsen from its Board of Directors. "The offer is for Pierre Quilliam Design Inc. to purchase ClassicVision's total interest in AVF for US $400,000 payable in six months from December 1, 1999 and to take over all liabilities arising from the Company's purchase agreement with AVF," said John T. Bauska, President and Director, ClassicVision Entertainment Inc. "The Board of Directors, in line with its previous decision of focusing on the development of the Company's unique Financial Website, Tradercents.com, and having carried out considerable due diligent dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d review in the area of medical receivables Receivables An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed , medical management in particular in the State of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and those of AVF, has indicated to Pierre Quilliam Design Inc. that the offer will be considered subject to contract. It is now awaiting such a definitive contract to be submitted by Pierre Quilliam Design Inc." Advanced Video Fluoroscopy & Nuclear Imaging Inc. signed a contract with ClassicVision on July 26, 1999 for the sale of AVF to ClassicVision for $1.2 million and 11 million restricted stocks. To date, only $400,000 has been paid to concerned parties in AVF. The Board of Directors further stated that it has also received an offer for its 49% interest in Rocket Inc. from Pierre Quilliam Design Inc. for all the Company's liabilities with Rocket Inc. The Board is now reviewing this offer and will make further announcements once it has completed its evaluation. ClassicVision has communicated these offers to Galliano International Ltd (Pink Sheets:GLNO) and has been assured by Galliano that their proposed Tender Bid of 1:1 (one share of Galliano for one share of ClassicVision) would not be affected regardless of ClassicVision's decision on AVF and Rocket Inc. About ClassicVision Entertainment Inc. ClassicVision Entertainment Inc., based in California, owns a unique Financial Website, Tradercents.com, which offers investors various forums to voice their opinions on stocks, bonds and commodities both in the American and Canadian markets. It is the Company's intention to develop and expand this Financial Website and extend it to Third World and Developing Countries. The Company also has a small entertainment division, which generates limited to no revenues, as well as two other acquisitions: AVF and Rocket Inc., which have both been under close evaluation by Management. ClassicVision Entertainment Inc. is quoted on the NQB NQB National Quotation Bureau, Inc (now Pink Sheets) Pink Sheet as "CLVE". CAUTIONARY STATEMENT: This news release may include "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. " within the meaning of Section 21E of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities Exchange Act as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and/ or the U.S. 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. All Statements, other than statements of historical fact included in this release, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements that involve various risks and uncertainties. All forward-looking statements in the release are expressly qualified by this notice. |
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