Cole Computer Announces a $110,000 Investment by Its Former CEO, the Signing of a Memorandum of Intent and Clarification On a Recent Article.Business Editors/High-Tech Writers OKLAHOMA CITY--(BUSINESS WIRE)--Sept. 25, 2002 Cole Computer Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :COLV) ("Company", "Cole" or "Cole Computer") an Oklahoma City-based personal computer "White Box" system builder  This article's grammar usage needs improvement. Please edit this article in accordance with Wikipedia's . , announced today a one hundred and ten thousand dollar ($110,000) investment by its former 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. , the signing of a Memorandum of Intent and clarification on a recent article. Cole Computer announced today its former chief executive officer, Homer O. (Brad) Cole III, has provided the Company with one hundred and ten thousand dollars ($110,000) for stock options he earned under Cole's qualified executive stock option plan. "This investment by Brad Cole certainly shows the faith Brad has in Cole's new leadership and in the Company's future growth," said Dr. S Dr. Doctor. dr. dram. . F. Hartley, Cole's chairman of the board. Cole also announced the signing of a Memorandum of Intent with DIT Incorporated that will begin discussions to establish a joint venture between Cole Computer and DIT. The Memorandum does not mandate a joint venture between the two companies, but establishes the ground work for the consideration of a business relationship. Cole DIT Inc. is the tentative company's new name, and if authorized, the new company will be equally owned by Cole and DIT Incorporated. John L. Ruth, president of Cole stated, "The joint venture is intended to take advantage of the strengths of both companies by expanding their markets and improving customer satisfaction." Approval by both company boards will be needed once a plan is presented, said Ruth. Dyon Tang, chief executive officer for Cole, said the investment by Brad Cole, the signing of the Memorandum of Intent and the hopeful establishment of Cole DIT Inc. will allow both companies to pool together their strengths to take advantage of the synergism synergism /syn·er·gism/ (sin´er-jizm) synergy. syn·er·gism n. Synergy. synergism between the companies, while they continue to concentrate on their markets. Tang also stated he would like to take the opportunity to clarify a comment made in The Oklahoman concerning a reverse merger. Tang was addressing how Cole Computer Corporation had been formed and the possible joint venture, when apparently his statement was taken out of context or he used incorrect terminology. "The only consideration currently involving DIT Incorporated and Cole Computer Corporation is one of a potential joint venture," said Tang. Cole Computer Corporation builds and sells retail and wholesale "Ready-to-Go" customized personal computers. Each system is built with quality components including repairs, upgrades and complete personal computers. The Company targets home, business, government and educational markets. Cole Computer's corporate strategy combines custom-designed personal computers built to specifications coupled with "small town" personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. service. Cole Computer Corporation is an authorized AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. reseller, Microsoft OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and Gold Member, and an Intel Premier Dealer. For more information on Cole's goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , visit Cole Computer e-commerce Web site at http://www.okcmasters.com or one of the 13 retail outlets operating under the trade names "Computer Masters" in Oklahoma and Arkansas and under "Your Computer Masters Stores" in Texas. Referenced ticker symbols Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors : COLV The statements made in this press release are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those expectations due to circumstances. Actual results may differ materially from those expectations due to changes in global politics, economics, business, competitors, competition markets and regulatory factors. |
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