ComTech Agrees to Acquire Privately Held Gold Cross Medical, IndependenceWorld.com and DryNight.com.Business Editors HOUSTON--(BUSINESS WIRE)--April 19, 2000 ComTech Consolidation Group Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CCGI CCGI Coventree Consulting Group International ) today announced that the company has signed a letter of intent to acquire all of the assets of New Jersey-based IndependenceWorld.com, DryNight.com and Gold Cross Medical Supply Inc(GCM GCM General Circulation Model GCM Global Climate Model GCM General Court-Martial GCM Galois/Counter Mode (cryptography) GCM Geriatric Care Managers GCM Global Circulation Model GCM Good Conduct Medal ). Subject to completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and the terms and conditions of a definitive agreement to be negotiated, ComTech expects to complete this acquisition in the near future. www.IndependenceWorld.com (IWC IWC International Whaling Commission IWC Industrial Welfare Commission IWC Iowa Wesleyan College IWC International Watch Company (Swiss watch manufacturer) IWC Ice Water Content IWC In Which Case IWC Indianapolis Water Company ) is positioning itself to become a leader in the growing consumer and B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business based online home health care Industry. IWC's online superstore offers an extensive line of home medical equipment(HME HME Home Medical Equipment HME Home Media Engine (TiVo) HME Heat and Moisture Exchange HME Hierarchical Mixtures-of-Experts HME Happy Meal Ethernet (UNIX driver) HME Honeymoon Experience ), durable medical equipment Durable medical equipment is a term of art used to describe certain Medicare benefits, that is, whether Medicare may pay for the item. The item is defined by Title XVIII the Social Security Act: DME - Distributed Management Environment )and surgical supplies to consumers and businesses. www.DryNight.com, was launched this spring to meet the overwhelming demand for incontinence related products and provides customers with a discreet method of product delivery. The site has been received very well within this highly fragmented market. Gold Cross Medical Supply Inc. is the retail facility, which specializes in DME and HME products. GCM customer service representatives will support both Web sites'. DryNight.com and IndependenceWorld.com ship products globally from their New Jersey based retail facility of Gold Cross Medical Supply Inc. "We're very excited about this acquisition," said Walter Davis, chairman of ComTech. "Our mission is to build a company, that will leverage the technology of today, and still generate profits in the short term. We plan to take these sites to a much higher level by virtue of our alliance with Interlucent as well as our experienced health professionals." Davis continued, "Dr. Beasley and GCM founder Cynthia Lindstrom will play a vital role in the future development of the sites." GCM founder, Cynthia Lindstrom commented, "IndependenceWorld.com and DryNight.com are at a critical phase of their development and this partnership with ComTech will provide the sites with the resources required to successfully and rapidly implement our expansion strategy." About ComTech Consolidation Group Inc. ComTech Consolidation Group Inc. is a Houston, based holding company whose primary focus is to acquire and develop Internet and technology related companies. ComTech trades on the Over the Counter Bulletin Board under the ticker symbol CCGI and is a fully reporting company. The company currently owns two technology related companies: Enhanced Internet Service Providers and Networks Online, both located in Houston, and has health care operations in Louisiana. The company's Web site is www.ccg.net, www.nol.net and ComTech SEC filings can be found at www.freeedgar.com. Statements regarding financial matters in this press release other than historical facts are "forward looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the 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. The company intends that such statements about the company's future expectations including future revenues and earnings, and all other forward looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. |
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