Cole Computer Corporation Announces Exchange of Shares With Golden Alliance Assurance Corporation.Business Editors/High-Tech Writers OKLAHOMA CITY--(BUSINESS WIRE)--Feb. 13, 2001 Cole Computer Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :COLV), an Oklahoma City-based manufacturer of personal computers, announced today an exchange of shares with Golden Alliance Assurance Corporation ("GAAC GAAC Governmental Accounting and Auditing Update Conference GAAC German American Academic Council GAAC Google Analytics Authorized Consultant GAAC General Aviation Awareness Council (UK) GAAC German-American Academic Council Foundation "). In a transaction valued at $2,000,000 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. , GAAC acquired a minority stake in Cole Computer Corporation in exchange for a minority stake in GAAC. GAAC is a holding company that through its majority owned foreign subsidiaries provides life, health and casualty insurance, health care services and manages medical claims ("Third Party Administration") for the Latin American market. GAAC controls subsidiaries with assets of approximately $32,000,000 USD and shareholders equity of $10,000,000 USD. Sergio Arana, president of Golden Alliance Assurance Corporation, stated, "We view the exchange as a long-term investment in U.S. technology and an opportunity to introduce Cole Computers into the Latin American market." Brad Cole, founder 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. of Cole Computer Corporation, remarked, "This transaction will open doors for us in high-growth Latin American markets and we get a financially strong partner to assist us with our expansion inside and outside 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. ." Dr. S Dr. Doctor. dr. dram. .F. Hartley, chairman of the board of Cole Computer Corporation, stated, "This transaction should result in a significant improvement in our balance sheet and move the Company closer to achieving its stated goal of listing its securities for trading on the 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 Small Cap. Terms of the exchange were not disclosed. Cole Computer Corporation manufactures and sells wholesale and retail "Ready-to-Go" and customized personal computers. Each system is manufactured with quality components and given the Cole Computer personal touch. Additionally, the Company sells components to repair, upgrade or build complete personal computers. For more information on these 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 the Cole Computer e-commerce Web site at http://www.colecomputercorp.com or one of the company's 13 retail outlets operating under the trade name "Computer Masters" in Oklahoma, Arkansas and "Your Computer Masters Store" in Texas. Cole Computer's corporate strategy combines the custom-designed personal computer to your specifications, model coupled with the "small town" personalized service. Except for factual information contained herein, certain matters set forth in this press release are forward-looking statements that are subject to uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors. For additional information concerning Cole Computer Corporation, please contact Brad Cole at 405/491-7300 or 888/479-9093. You may also visit our Web site at http://www.colecomputercorp.com . Quote for referenced ticker symbols: COLV.OB. |
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