Company First to Successfully Register as International Commodity Exchange in Russia; OXIR Investments Announces Registration of International Commodity Exchange.Business Editors LAS VEGAS--(BUSINESS WIRE)--April 12, 2001 OXIR Investments, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :OXIR) announced today that it has become the first company to successfully register as a commodity exchange with the Moscow Registration Chamber in Russia. The commodity exchange, named GLEXON (Global Exchange Online) will utilize the Company's new high technology advances to conduct import-export activities and inter-corporate international transactions. "The main goal of GLEXON is to achieve a unification of a system of worldwide inter-corporate relationships involving simultaneous national trading operations through our newly developed business model," said Vassili I. Oxenuk, Chairman 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 the Company. Mr. Oxenuk further stated "We expect that our business model will replace the current common use of intermediaries who facilitate commodity exchanges throughout the world. Our Internet Commodity Exchange will provide an international market which businesses may offer direct contracts on an infinite variety of 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. which are fully guaranteed by a performance bond to be issued by a major financial institution." While there are some specialized Internet-based commodity exchanges that currently exist, the Company believes it is the only exchange that proposes to provide direct spot, future and forward contracts. In addition to development of GLEXON, OXIR, through its wholly owned and majority owned subsidiary companies, is engaged in the business of (i) operating a web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. center and an Internet services providing center in Moscow, Russia; (ii) offering a variety of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , asset management and financial consulting to non-US clients; and (iii) real estate development projects, including the construction of high-rise apartment complexes in Moscow. Forward-looking Statement 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. : 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 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements. Certain information included in this new release (as well as information included in oral statements or other written statements made or to be made by OXIR Investments, Inc.) contain statements that are forward-looking, such statements related to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of OXIR Investments, Inc. For a description of additional risks and uncertainties, please refer to OXIR Investments, Inc. filings with the Securities and Exchange Commission, including Forms 10K and 10Q. |
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